Cryptocurrency exchange and wallet provider Blockchain.com has won regulatory approval in the UK almost four years after apparently giving up.
Blockchain.com was added to the Financial Conduct Authority (FCA) register of authorized crypto companies on Tuesday under its trading name “BC Operations”.
The London-based company opted to withdraw its FCA license application in March 2022, having failed to obtain approval before a looming deadline. Blockchain.com turned to its company registered in Lithuania.
UK registration allows Blockchain.com to carry out certain crypto-related activities in the UK, provided it complies with money laundering and terrorist financing rules.
“Blockchain.com now operates to the same rigorous standards as traditional finance and banking in the UK,” the company said in an article on X on Tuesday.
The FCA’s licensing regime for crypto companies does not, however, extend to full authorization of financial services – this is expected to be introduced under a new licensing framework taking effect from October next year.
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