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 has 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 and counter-terrorist financing regulations.

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.

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 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.

This article was written by Jared Kirui at www.financemagnates.com.CryptoCurrencyRead More

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