UK FCA Granted Registration To Crypto Startup Crypterium

The UK FCA granted registration to the cryptocurrency startup Crypterium and now its wallet app is available in more than 170 countries as the company noted, so we are reading more about in our latest crypto news today.

The British crypto services provider Crypterium is the latest company to secure registration from the UK FCA. Crypterium officially announced that it has recently been registered by the FCA to provide crypto services to local citizens and businesses as it became one of the few companies to pass the registration process. According to the data on the FCA official website, Crypterium was registered to operate “certain crypto asset activities” while being compliant with the country’s AML regulations.

The registration was authorized Crypterium to continue providing the crypto wallet services including crypto trading and payment services to everyone in the United Kingdom as the announcement noted. The registration is important amid the upcoming Brexit measures which allowed Crypterium to provide the same level of functionality to the UK Businesses as in other supporter countries. As per the announcement, the crypto wallet application is available in more than 170 countries surpassed over 400,000 clients since the launch. Crypterium CEO Steven Parker 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 company noted that the FCA registration is quite long and took about 18 months of policies and processes assessment before the approval is granted. By obtaining the FCA registration, Crypterium joins a handful of companies that the UK authority registered so far including two companies affiliated with the crypto exchange Gemini, CoinJar, crypto-friendly bank Ziglu, Diginex’s Digivautl, and Archax. Earlier this year the FCA warned against 111 unregistered crypto companies whereas 51 companies withdrew their licensing apps with the FCA amid the strict local AML regulations.

As recently reported, The FCA launched TikTok and YouTube campaign warnings about crypto towards the younger investors which is the latest in the long line of crypto-related warnings published by the regulator. The UK FCA launched Tiktok and YouTube video campaigns that warn the younger investors about crypto.