Crypto.com Authorized as E-Money Institution in UK

Digital asset exchange Crypto.com announced on Monday (December 4, 2023) that it has been granted authorization as an Electronic Money Institution (EMI) from the UK's Financial Conduct Authority (FCA). The company secured a registration as a cryptoasset business with the FCA in August 2022.

This development comes after that Crypto.com's Dubai​ entity, CRO DAX Middle East FZE, has received a Virtual Assets Service Provider (VASP) Licence for specified virtual asset service activities by Dubai's Virtual Assets Regulatory Authority (VARA).

The latest authorisation allows Crypto.com to deliver a suite of UK-localized e-money products as part of the robust FCA regime.

"The UK has and continues to be a hugely important market for our business and the greater industry," said Kris Marszalek, CEO of Crypto.com. "We look forward to continuing to collaborate with a global regulatory leader in the FCA in our collective pursuit of responsible innovation for crypto."