It has been reported that 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.
However, according to data on the FCA’s official website, Crypterium has been registered to operate “certain crypto asset activities” in compliance with the country’s Anti-Money Laundering (AML) regulations since October 11.
The report said that the registration officially authorized Crypterium to continue providing its crypto wallet services, including crypto trading and payment services to “practically everybody” in the UK.
Likewise, the registration is particularly important amid the upcoming Brexit measures, allowing Crypterium to provide the same level of functionality to UK businesses as in other supported countries. According to the announcement, Crypterium’s crypto wallet application is available in more than 170 countries and has amassed over 400,000 clients since its launch.
Steven Parker, the CEO of Crypterium, said:
“Becoming 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.”
The firm noted that the FCA registration is extensive, taking “18 months of policies and processes assessment before approval is granted.” By obtaining the FCA registration, Crypterium joins a handful of companies that the UK authority has registered so far, including two firms affiliated with the Winklevoss twins’ crypto exchange, Gemini, Australian exchange CoinJar, crypto-friendly bank Ziglu, Archax, Diginex’s Digivault, and others.
Thus, 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.