Bitstamp secures registration as a cryptoasset service provider by FCA in the UK
Bitstamp, the world’s longest-running cryptocurrency exchange, has been registered to fully operate in the UK by the Financial Conduct Authority (FCA). This brings the number of global licenses and registrations of the Bitstamp group to 52, making Bitstamp one of the most secure and compliant actors on the global market.
Bitstamp is the first crypto exchange to be registered by the FCA since the UK Treasury set out a consultation on 1 February 2023 to strengthen regulation of cryptoasset activities, which marked the next stage of the UK’s approach to regulation.
This status demonstrates that Bitstamp is operating to the same financial standards and customer protections that traditional finance institutions must adhere to with anti-money laundering (AML) and counter-terrorist financing (CTF) protections.
Through this registration, Bitstamp has been recognised as consistently operating to the highest standard in the UK, providing compliant and secure access to crypto in the region as required by the FCA.
The world’s longest running crypto exchange is now registered to offer the following services to UK retail and institutional customers:
- custody cryptoassets
- the purchase or sale of cryptoassets in legal tender
- the trading of cryptoassets against other cryptoassets
This latest successful registration is a continuation of Bitstamp’s growing Virtual Asset Service Provider (VASP) regulatory footprint in Europe, having obtained VASP licenses in three of the largest markets in the region in the last year: Italy, Spain, and France.
Jean-Baptiste Graftieaux, Global CEO of Bitstamp, said: “We are proud to be one of a very small number of crypto exchanges being recognised by the FCA as providing the gold standard in crypto compliance to customers in the UK. With mainstream adoption continuing to be our goal, Bitstamp is establishing itself as a driving force in advocating that increased regulation is key to this journey.
“Since 2011 we have been in a strong regulatory and trusted position and have built our business around offering safety and security to all our customers. This latest registration in the UK supports our mission to be the most compliant, secure, and transparent crypto exchange for both individuals and businesses.”
In April 2023, the company ranked first among more than 130 centralised cryptocurrency exchange platforms in CCData’s (formerly CryptoCompare) latest Exchange Benchmark Report. Bitstamp was the only platform to receive the highest rating, an AA, in this report, and in the previous four.
Companies In This Post
- BNY Mellon Announces Expanded Mental Health Benefits and Increased Minimum Wage for U.S. Employees Read more
- Users link over $500M in self-directed assets on Magnifi, the AI-powered financial co-pilot for individual investors Read more
- What happened at the FF Awards 2023?! Read more
- Adyen Enters into a Long-Term Payments Partnership with S Group Across 1,900+ Locations in Finland and Estonia Read more
- Wahed launches in the UAE becoming the country’s first dedicated Islamic digital investment platform Read more