Coinbase Achieves Major Milestone with FCA Registration in the UK – BitRss

Coinbase has completed its registration with the Financial Conduct Authority (FCA) in the United Kingdom, establishing itself as the largest cryptocurrency exchange in the region. Following a rigorous six-month preparation process, the company is now authorized to provide direct cryptocurrency services, broadening the range of offerings for customers. The fact that only 14% of applications were approved by the FCA highlights the challenges faced during this process. Coinbase officials emphasized the significant resources dedicated to compliance with regulatory requirements.

Regulatory Approval Process

Coinbase’s plans to expand its operations in the UK have been shaped by the FCA’s stringent oversight. Completing the registration process initiated in the first half of 2023 has enabled the company to become a trusted player in the cryptocurrency market. The FCA registration mandates compliance with criteria such as the protection of customer funds and transparent operations. During this period, Coinbase expanded its teams for local regulatory compliance and upgraded its technological in…