Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Crypteriumâs cryptocurrency wallet application is available in more than 170 countries, the company says.
British cryptocurrency services provider Crypterium is the latest crypto firm to secure registration from the United Kingdomâs Financial Conduct Authority (FCA).
Crypterium officially announced on Monday that it has recently been registered by the FCA to provide cryptocurrency services to local citizens and companies, becoming one of few companies to have passed the registration process.
According to data on the FCAâs official website, Crypterium has been registered to operate âcertain crypto asset activitiesâ in compliance with the countryâs Anti-Money Laundering (AML) regulations since Oct. 11.
The registration officially authorized Crypterium to continue providing its crypto wallet services, including crypto trading and payment services to âpractically everybodyâ in the U.K., the announcement notes. The registration is particularly important amid the upcoming Brexit measures, allowing Crypterium to provide the same level of functionality to U.K. businesses as in other supported countries.
According to the announcement, Crypteriumâs crypto wallet application is available in more than 170 countries and has amassed over 400,000 clients since its launch.
âBecoming an FCA-registered firm is a fantastic opportunity. From now on, interested parties will view Crypterium in a new light, a company that puts user security and accessibility first. Not only do we provide an excellent set of services, but now we can show that these are done with full compliance of some of the toughest assessment criteria,â Crypterium CEO Steven Parker said.
The firm noted that the FCA registration is extensive, taking â18 months of policies and processes assessment before approval is granted.â The firm did not immediately respond to Cointelegraphâs request for comment.
Related: Competition drives young tradersâ crypto investments, says UK watchdog
By obtaining the FCA registration, Crypterium joins a handful of companies that the U.K. authority has registered so far, including two firms affiliated with the Winklevoss twinsâ crypto exchange, Gemini, Australian exchange CoinJar, crypto-friendly bank Ziglu, Archax, Diginexâs Digivault and others. Earlier this year, the FCA warned against 111 unregistered crypto companies. Previously, 51 companies reportedly withdrew their licensing applications with the FCA amid strict local AML regulations.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.