UK approves regulation for cryptocurrency platform Crypto.com

Deepak Gupta August 18, 2022
Updated 2022/08/18 at 3:18 PM

The cryptocurrency world is still a bit obscure and unknown to many people. As such, and like the alerts that we are also leaving, it is essential that people inform themselves about this market, so that they have sufficient and necessary knowledge and avoid unpleasant situations.

To help this clarification, some regions are also analyzing a way to legislate this technology. And the latest information indicates that the UK has passed regulation for the cryptocurrency platform Crypto.com.

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Crypto.com gets UK regulatory approval

According to information provided by the Reutersthe cryptocurrency platform Crypto.com, based in Singapore, managed to get a certain regulation passed in the United Kingdom. In a statement revealed on Wednesday (17), the company of digital currencies reported that it registered in the financial services regulator of that nation.

Therefore, when you are now part of the registry by signing Financial Conduct Authority (FCA) the Crypto.com platform is then approved to offer services and products from the cryptocurrency world to all customers located in the UK. This practice will, of course, have to comply with the rules regarding the fight against money laundering and "terrorist" financing.

In the words of Crypto.com CEO Kris Marszalek, the UK is a "strategically important market for us"The executive supports his statement based on an increase in the adoption of cryptocurrencies in the region and also the efforts adopted to make Britain in a digital currency asset center.

So far, cryptocurrencies not being regulated in the UK, consumers and users could get any compensation if they lost their digital assets.

The Crypto.com platform currently has 50 million customers worldwide, and also registered in South Korea about a week ago, and in Italy in July.

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