Blockchain.com has achieved a major regulatory milestone, securing its UK FCA registration. The announcement signals the approval by the primary financial regulatory entity of the United Kingdom, granting Blockchain.com permission to conduct activities in the region as a Registered Crypto Asset Business.
What UK FCA Registration Means for Blockchain.com
In a period of market consolidation and heightened regulatory inspections, securing the UK FCA registration sets a major competitive advantage. Blockchain.com can now provide the same wide range of regulated products and services to UK-based customers as it does for customers in the EU under its Markets in Crypto-Assets (MiCA) license.
Additionally, Blockchain.com must comply with Anti-Money Laundering (AML) and consumer protection regulations as if it were a traditional financial institution in the UK, as required by the UK.
Why This Marks A Substantial Victory for Blockchain.com
With the occurrence of regulatory pressures and market consolidation, the achievement of the UK FCA Registration is an immense strategic win for Blockchain.com, as it acts as a gateway for many users to engage with the platform in a regulated and compliant manner in a major financial centre. Therefore, for users in the UK, registering with the FCA gives greater confidence when using the platform.
Also, for Blockchain.com, to future-proof its business and to bolster its ability to partner with other regulated entities, registering with the FCA will allow it to be in a strong position moving into the full crypto legislation that will be implemented in the UK.
