Cryptocurrency exchange and wallet provider Blockchain.com has won regulatory approval in the UK nearly four years after seemingly giving up.
Blockchain.com was added to the Financial Conduct Authority’s (FCA) register of licensed crypto companies on Tuesday under its trading name “BC Operations.”
The London-based company chose to withdraw its application for an FCA license in March 2022 after failing to win approval ahead of a looming deadline. Blockchain.com pivoted to its registered company in Lithuania.
Registration in the UK allows Blockchain.com to carry out certain crypto-related activities in the UK on the basis that it complies with anti-money laundering and terrorist financing regulations.
“Blockchain.com now operates under the same strict standards as traditional finance and banking in the UK,” the company said in a post on X on Tuesday.
However, the FCA’s licensing scheme for crypto companies will stop without full authorization for financial services – this is set to be introduced under a new licensing framework that will come into force from October next year.
Read more: Ripple wins UK regulatory approval from the Financial Conduct Authority
