Crypterium is a UK based cryptocurrency service provider which is the latest crypto company to be registered with the UK Financial Conduct Authority (FCA).
Crypterium officially announced on Monday that it has recently been registered by the FCA to offer cryptocurrency services to residents and local businesses, and has become one of the few companies that has gone through the registration process.
According to the FCA’s official website, Crypterium has been registered to carry out “certain cryptocurrency transactions” under the country’s anti-money laundering regulations (AML) since October 11.
She said the registration officially gave Crypterium permission to continue offering its cryptocurrency wallets, including cryptocurrency trading and payment services, to “almost everyone” in the UK. Registration is especially important in the middle of the Brexit process, which allows Crypterium to offer British companies the same functions as in other supported countries.
According to the announcement, the cryptocurrency wallet app Crypterium is available in over 170 countries and has attracted over 400,000 customers since its launch.
“Becoming an FCA-registered company is a fantastic opportunity. In the future, stakeholders will see Crypterium in a new light, a company that puts user safety and accessibility first. Not only do we offer a wide range of services, but we can now show that we have done so in full compliance with some of the most stringent evaluation criteria. ”
The company noted that FCA registration is complex and takes “18 months to evaluate policies and processes prior to approval.” The company did not immediately respond to Cointelegraph’s request for comment.
About this: Competition encourages investment from young cryptocurrency traders, reports UK Watchdog.
Following FCA registration, Crypterium joins several companies currently registered by the British government, including two associated with Winklevoss’ twin crypto exchange, Gemini crypto exchange, CoinJar Australian exchange, crypto-friendly banks Ziglu, Archax and Diginex Digivault among others. … … Earlier this year, the FCA warned against 111 unregistered crypto companies. Previously, 51 companies withdrew their license applications from the FCA in accordance with strict local anti-money laundering regulations.