Cryptocurrency exchange and wallet provider Blockchain.com has finally received approval from UK regulators after seemingly giving up for nearly four years.
On Tuesday, Blockchain.com was added to the Financial Conduct Authority’s (FCA) register of licensed cryptocurrency firms, trading under the name “BC Operations.”
The London-based company chose to withdraw its FCA license application in March 2022 as it had not received approval by the upcoming deadline. Blockchain.com pivots to register operations in Lithuania.
Registering in the UK allows Blockchain.com to conduct certain cryptocurrency-related activities in the UK while complying with money laundering and counter-terrorism financing rules.
“Blockchain.com currently operates to the same rigorous standards as traditional UK finance and banking,” the company said in a post on X on Tuesday.
However, the FCA’s cryptocurrency firm licensing regime falls short of the full financial services mandate – which will be introduced under the new licensing framework that comes into effect in October next year.
Read more: Ripple receives UK Financial Conduct Authority regulatory approval
