Crypto.com Enters UK E-Money Arena With FCA Approval

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.”

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