Crypto.com has been granted a licence to operate in the UK by regulator the Financial Conduct Authority.
The cryptocurrency exchange has been given the green light to provide ‘certain cryptoasset activities’, according to an entry in the FCA’s Financial Services Register.
It also gives the firm Money Laundering Regulation Status.
The register references Singapore-based Crypto.com, which has 50 million customers, by its UK trading name FORIS DAX UK LIMITED.
Crypto.com and the FCA are yet to reveal details of the licence.
According to FCA, ‘cryptoasset activity’ includes exchanging cryptoassets and money in both directions; exchanging cryptoassets for other cryptoassets; and automating a machine to do this.
The licence is therefore likely to allow users to legally buy cryptocurrency using fiat currency such as pounds sterling; sell crypto for fiat currency; or exchange crypto for a so-called stablecoin.
In recent days Crypto.com has revealed details of regulatory approval in both Canada and the Cayman Islands.