The digital asset exchange Crypto.com validates UK registration for the crypto asset activities. The crypto asset activities include the exchange of one crypto for another or fiat. UK’s introduction to the crypto exchange platform will add another dimension to the crypto market. Cointelegraph reports that the Financial Conduct Authority (FCA) issued registration confirmation to Crypto.com on Tuesday. The reports suggest that ‘FORIS DAX UK LIMITED’ has been approved to carry out certain crypto asset activities. FCA’s official website indicates that the crypto exchange platforms should fully comply with their money laundering, terrorist financing, and funds transfer regulations.
Crypto asset activities include several fields.
The crypto asset exchange platforms exchange one crypto for another or money. These platforms have an automated machine to carry out the process efficiently. Newsbtc reports that the FCA has issued a list of 248 UK businesses involved in the crypto exchange activities that are not registered for anti-money laundering purposes. FCA had announced January 9, 2021, as the registration deadline for the pre-existing UK businesses. The registration process is incomplete, and many applicants haven’t received confirmation from the FCA. FCA has the power to penalize non-complaint enterprises too.
Crypto.com has reached a new level
Crypto.com has achieved significant milestones in the near past; it is a Singapore-based crypto exchange platform with over 50 million users worldwide. Newsbtc reports that Crypto.com obtained Virtual Asset Provider and Electronic Financial Transaction Act registration in South Korea on August 11; it also acquired the payment service provider ‘PnLink Co., Ltd.’ and virtual asset service provider ‘OK-BIT Co., Ltd..’ Crypto.com’s CEO Kris Marszalek took to Twitter to express his joy over the digital platform’s recent significant milestones. Crypto.com has earned the market’s trust and has emerged as one of the most secure and efficient digital asset exchange platforms globally.