Bitstamp added to FCA’s registered crypto firms list.

The UK branch of Bitstamp, a cryptocurrency exchange, has been added to the list of registered firms under the UK’s Financial Conduct Authority (FCA). According to the FCA’s list of registered cryptoasset firms as of June 13, Bitstamp U.K. Limited and Interactive Brokers Limited became the first companies to join other registered entities in the UK in roughly six months. The FCA lists 42 registered crypto firms in compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements, among others.

Bitstamp is now registered as a cryptoasset business with the UK’s Financial Conduct Authority (FCA). We are proud to be recognized by the FCA as providing the gold standard in crypto compliance to customers in the UK. Thank you for your continued support! More info:…

— Bitstamp (@Bitstamp) June 13, 2023

In the UK, firms that are allowed to “carry out crypto asset activities” must either be registered with the FCA or have been granted temporary status to operate. The FCA previously ordered Binance Markets Limited to stop its UK operations and issued “shut down or face further action” orders for local crypto ATM operators. Ripple, a blockchain-based payment platform, announced in a May shareholder conference call that it had taken a minority stake in Bitstamp in the first quarter of 2023.

Lawmakers in the UK have been proposing a comprehensive crypto asset regulatory framework aimed at giving crypto a more prominent role in the nation’s financial services sector as well as promoting an approach to encourage innovation in the space. At the time of publication, the government appeared to be gathering responses to the consultation paper on the framework and considering the next steps moving forward.

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