Crypto Exchange Coinbase Secures Spot on UK FCA Register
Coinbase has officially become the largest crypto exchange operating in the U.K. after securing a spot on the Financial Conduct Authority (FCA) crypto register. This registration allows Coinbase to offer both crypto and cash services to clients in the U.K., marking its first opportunity to provide crypto services in this market. Keith Grose, Coinbase's U.K. CEO, noted that this milestone opens channels for new products and services. Gaining this registration is notably challenging, as only 14% of applicants have successfully navigated the process. Previously, Coinbase operated in the U.K. through its CB Payments Ltd. subsidiary, which provided e-money services without direct access to cryptocurrency trading. With the new VASP registration, Coinbase's U.K. division will now also be able to facilitate crypto services, which includes the ability to engage directly with the FCA about its future plans and communications concerning crypto-related topics such as staking and stablecoins.
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