The Coinbase has acquired registration with the UK Financial Conduct Authority, which has become the latest Crypto Exchange to operate in the country.
The US-based Cryptocurrency Exchange Coinbase is back into the United Kingdom as it has acquired registration with the Financial Conduct Authority, making it the latest exchange to get approval in the country.
Registration allows the UK Unit of Coinbase, CB Payments Limited to offer crypto services directly. Is a firm Now listed On the register of FCA under reference number 900635.
The coinbase already had the presence in the UK via CB Payments Limited, however, it was not allowed to sell directly to Crypto. Instead, it acted as an entrance for customers to trade crypto through other coinbase institutions. With approval, CB Payments Limited can now provide both Fiat and Crypto services under its structure.
For the coinbase, the approval was confronted in July 2024 despite the regulatory investigation, when the FCA examined its business on high -risk customers onboarding, which violated the earlier sanctions. At that time, the British regulator found that Coinbase Payments Limited broke the rules of their sanctions. The Coinbase agreed to pay a fine of more than £ 3.5 million. The exchange claims that since then compliance measures have been tightened.
Coinbase first launched back to the UK in 2015, bringing its crypto wallet and exchange services to the British customers. At that time, CEO Brian Armstrong It has been told Britain’s interest in Crypto as “away from the chart”.
New registration means that the coinbase can now communicate directly with FCA instead of relying on third party approval. It also puts the exchange in position to engage in regulatory discussions, including upcoming rules on stacking and stabechoin.
