According to the FCA`s August 16 Financial Services Registry, [FORISDAXUK LIMITED" has registered to carry out [certain encrypted asset activities" while also obtaining money laundering regulatory status.
FORISDAXUKLIMITED is listed as a Crypto.com UK registered trading name.
At the time of writing, there are few details on registration, and the Crypto.com and FCA posts have not yet been published, however, the FCA website advises that businesses operating in the UK with crypto assets must register to comply with money laundering, terrorism financing and Capital Transfer Standards.
According to the FCA Crypto Assets, crypto asset activities include obtaining funds with encrypted assets or using funds to obtain encrypted assets, or automating machines and exchanging encrypted assets for encrypted assets.
On the other hand, the FCA has also compiled a list of 248 UK businesses that do not appear to have worked with the FCA to register crypto asset activities for anti-money laundering purposes.
Existing companies in the UK must register with the FCA before January 9, 2021 to continue to develop the market. Companies that have applied but are still applying will receive temporary registration.
The FCA has enforcement powers that allow it to carry out investigations and financial penalties against non-compliant firms.
Crypto.com, a Singapore-based cryptocurrency exchange with more than 50 million customers worldwide, has been chasing regulatory milestones at a breakneck pace lately.
Ahead of the U.K. registration, the pre-registration application for crypto trading platforms sought regulatory approval in Canada on Monday and was allowed to become a virtual asset service provider in the Cayman Islands on Aug. 11.
On August 8, after the exchange acquired the payment service provider "PnLink Co., Ltd." and the virtual asset service provider "OK-BIT Co., Ltd.", it also obtained the Korean virtual asset service provider and electronic financial investment law registration. .
With these additional regulatory milestones in place, Crypto.com appears to be trying to be seen as a safe and secure exchange in the data asset market, and CEO Kris Marszalek has been vocal about their progress.
https://t.co/pFc4Pz9nFR On the premise of strong regulatory compliance, continue to build and provide a safe and reliable platform for the Canadian encryption community
