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Crypto.com has been authorised as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA), following its registration as a crypto asset business last year.
The EMI authorisation allows Crypto.com to offer a suite of UK-localised e-money products.
“The UK has and continues to be a hugely important market for our business and the greater industry,” said Kris Marszalek, CEO of Crypto.com, in a statement.
“We look forward to continuing to collaborate with a global regulatory leader in the FCA in our collective pursuit of responsible innovation for crypto.”
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Unlike its competitors such as Binance and Coinbase, Crypto.com found itself in regulators' good books, earning licenses including:
- Major Payment Institution (MPI) licence for Digital Payment Token (DPT) from the Monetary Authority of Singapore (MAS)
- Derivatives Clearing Organization (DCO) and a Designated Contracts Market (DCM) status from the US Commodity Futures Trading Commission (CFTC)
- Registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France
- MVP Preparatory Licence approval from the Dubai Virtual Assets Regulatory Authority (VARA)
- Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea
- Registration approval as a Digital Currency Exchange Provider and Independent Remittance Dealer in Australia by AUSTRAC
- Registration in Spain as a Virtual Asset Service Provider (VASP) from the Bank of Spain;
- Registration in Italy from the Organismo Agenti e Mediatori (OAM)
- Registration in Greece from the Hellenic Capital Market Commission
- Registration in Cyprus from the Securities and Exchange Commission
- Regulatory approval from the Cayman Islands Monetary Authority
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