Crypto Firm Crypterium Secures FCA Registration

Cryptocurrency firm Crypterium has secured Financial Conduct Authority (FCA) registration to operate in the U.K., the firm announced Monday.

• Crypterium, which offers a cryptocurrency wallet app and has over 400,000 clients in 170 countries, said it is “one of only a small handful of companies to have passed the [FCA] registration process” from the almost 200 that have applied.

• “This registration ensures that as Brexit measures kick in, Crypterium can continue to provide its crypto wallet services, including its crypto Visa cards and exchange functions, to practically everybody in the U.K.,” Crypterium said in a press release.

• Recently a number of firms such as the crypto payments infrastructure startup Ramp have also reported securing registration with the FCA.

• It was reported in June that 64 crypto firms had abandoned their plans for FCA registration amid mounting regulatory scrutiny. The deadline for registration is March 31 of next year.

• The Tallinn, Estonia-based company was registered as Commercial Rapid Payment Technologies on Oct. 11, the FCA register shows.

• The FCA, the U.K.’s anti-money laundering and counter-terrorist financing supervisor, became responsible for crypto asset firms in January. Businesses under its supervision need to demonstrate they comply with those regulations in order to be allowed to operate.

Read more: Crypto Startup Ramp Secures FCA Registration