Blockchain.com has obtained regulatory registration in the UK, nearly four years after it withdrew an earlier application to the Financial Conduct Authority (FCA). The move brings the London-based crypto firm back under UK oversight as the country prepares tighter rules for digital assets.
FCA Registration Granted
The FCA added Blockchain.com to its register of licensed crypto companies under the trading name “BC Operations.” The registration allows the company to carry out certain crypto-related activities in the UK, as long as it complies with money laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and counter-terrorist financing regulations.
“Securing this registration today puts us under active oversight immediately. Instead of waiting for legislation, Blockchain.com is now operating under the same rigorous standards as traditional finance and banks in the UK,” the crypto firm mentioned.
Related: Crypto Firms Must Apply for FCA Authorisation Starting September This Year
Blockchain.com operates as a cryptocurrency exchange and wallet provider. The firm is headquartered in London, making the UK approval a key step for its local operations.
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Blockchain.com previously sought FCA licensing but chose to withdraw its application in March 2022. At that time, the company had not received approval before an impending regulatory deadline. After the withdrawal, Blockchain.com pivoted to its registered business in Lithuania to continue its activities under a different regulatory base.
Compliance and Scope of Approval
Under its current registration, Blockchain.com must follow UK rules related to anti-money laundering and counter-terrorist financing. In a post on X, the company said it now operates under the same rigorous standards as traditional finance and banks in the UK.
The FCA plans to introduce a broader crypto licensing framework from October next year. That future regime is expected to go beyond financial crime checks and move towards fuller regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of crypto services.
Blockchain.com’s current registration places it within the existing UK system ahead of those changes, providing a clearer regulatory footing as new rules come into force.
Earlier, the FCA set out new requirements for companies looking to engage in regulated crypto asset activities, with applications expected to open in September.
Firms will need to obtain authorization under the Financial Services and Markets Act before the new regulatory framework takes effect in October 2027. To prepare for the transition, the FCA launched a public consultation to evaluate how existing handbook rules should apply to crypto firms.
