Revolut has finally won full authorisation to provide crypto currency services in the UK.
Months ago the Financial Conduct Authority granted a dozen firms, including the London FinTech, temporary permission to operate despite their applications falling short on anti-money laundering controls.
The other companies have since won full approval or withdrawn their applications – and now Revolut is the final one to receive full authorisation to provide services facilitating the trading of crypto assets.
鈥淎s with firms that were on the temporary register, firms that are on the full register are required to comply with the money laundering regulations,鈥� an FCA spokesperson said in a statement.
鈥淩evolut has agreed to a number of directions designed to ensure it has the systems and controls to meet the requirements of the money laundering regulations.鈥�
Revolut, which has 20 million customers worldwide and offers exposure to around 80 crypto assets, is the 38th company to receive full authorisation in the UK.
The digital bank was granted regulatory approval for crypto trading in Cyprus – and therefore the rest of the European Union – in August.
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For round-ups of recent cryptocurrency news developments, click here.
For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price change, see below.