- The day before, the country also issued approval for Interactive Brokers
- Experts expect an influx of new crypto firms
It is notable that the FCA has not approved a single application from crypto companies in the past 6 months. The last license they issued in December 2022 for the firm Hidden Road. The local regulator is notable for its strict approach to vetting applicants and rather strict rules for regulating the crypto industry in general.
In a press release, Bitstamp notes the importance of British registration:
“This achievement was a recognition of Bitstamp for our continued and unwavering commitment to the highest level of work. It also confirms that our platform offers compliant and secure access to cryptocurrencies in the UK in accordance with strict requirements set by the FCA.”
World brands now licensed in the UK include Revolut, Gemini, Kraken and eToro. But soon their number may increase. Thus, the a16z Foundation announced the opening of an office in London. They will hold Crypto Startup School 2024 training courses there. Coinbase and other top companies have also expressed interest in the UK.
But firms must be prepared to comply with the country’s new stricter crypto-advertising rules. They will not be allowed to offer bonuses for registering and inviting a friend.