Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-09-28 07:50:32

Revolut Receives FCA Registration To Provide Crypto Services In The U.K.

Revolut, a European fintech startup, has officially received approval from the Financial Conduct Authority (FCA) of the United Kingdom to offer cryptocurrency services in the country after a protracted application process. The U.K. financial watchdog’s crypto asset business registration received $33 billion worth of the digital banking service on September 26. Revolut formerly provided cryptocurrency buying, selling, and trading services in the U.K. under the FCA’s Temporary Registration Regime (TRR), established to let businesses continue operating while their applications were being considered. FCA Permitted Companies to Continue on TRR The FCA permitted a limited number of companies to continue to be on the TRR when it was strictly essential after the permission deadline had passed at the end of March this year. Along with CEX.I0, Copper Technologies, GlobalBlock, and Moneybrain, Revolut was one of the five companies listed on TRR at the beginning of April. The four other businesses have not since received approval. FCA’s representative told news organizations that Revolut has been fully registered as a crypto asset business and withdrawn from the interim register. He further stated, “Revolut has agreed to a number of directions designed to ensure it has the systems and controls to meet the requirements of the money laundering regulations.” U.K.’s Anti-Money Laundering Funding Body At the beginning of 2020, the FCA was desi...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.