Crypto.com has received the green light as an Electronic Money Institution (EMI) from the United Kingdom’s Financial Conduct Authority (FCA).
This affirmation builds on Crypto.com’s earlier recognition as a cryptoasset business by the FCA back in August 2022.
The EMI license empowers Crypto.com to introduce a range of UK-centric e-money offerings within the FCA’s framework.
Kris Marszalek, CEO of Crypto.com, stated:
“The UK has and continues to be a hugely important market for our business and the greater industry. We look forward to continuing to collaborate with a global regulatory leader in the FCA in our collective pursuit of responsible innovation for crypto.”
This announcement follows a series of regulatory milestones for Crypto.com.
The company received its Major Payment Institution (MPI) licence for Digital Payment Token (DPT) from the Monetary Authority of Singapore, furthering its global regulatory approval.
Similar endorsements include the approval 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, and pending operational approval from the Dubai Virtual Assets Regulatory Authority (VARA).
Crypto.com’s other registrations and approvals in South Korea, Australia, Spain, Italy, Greece, Cyprus, the Cayman Islands, and a pre-registration commitment with the Ontario Securities Commission and Canada Securities Administrators, among other jurisdictions.