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The UK arm of cryptocurrency exchange Bitstamp has joined the list of registered firms of the country’s Financial Conduct Authority.
According to the list of FCA-registered crypto asset firms as of June 13, Bitstamp UK Limited and Interactive Brokers Limited became the first companies to join other UK-registered entities in about 6 months – FCA added Hidden Road Partners and MoonPay in December 2022. The FCA has listed 42 registered crypto firms in compliance with anti-money laundering (AML) and counter terrorist financing (CFT) requirements, among others.
We are proud to be recognized by the FCA as providing the gold standard in cryptocurrency compliance to customers in the UK.
Bitstamp is now registered as a cryptoasset business with the UK’s Financial Conduct Authority (FCA).
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— Bitstamp (@Bitstamp) June 13, 2023
In the UK, firms that are allowed to “carry on activities with crypto-currency assets” must either be registered with the FCA or be granted temporary status to operate. The Financial Supervisory Authority previously ordered Binance Markets Limited to cease operations in the UK and also issued “shutdown or further action” orders for local crypto ATM operators.
Cointelegraph has reached out to Bitstamp but has not received a response as of press time. Blockchain-based payment platform Ripple announced at its May shareholder conference that it had acquired a minority stake in Bitstamp in the first quarter of 2023.
Related: UK FCA to take action against unregistered, illegal cryptocurrency ATMs
Legislators in the UK are proposing a comprehensive regulatory framework for crypto assets aimed at giving crypto a more prominent role in the national financial services sector and promoting an approach that encourages innovation in this area. At the time of publication, the government appears to be gathering responses to the structure consultation paper and contemplating next steps to move forward.