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FCA Approves Blockchain.com in the UK: A New Era for Crypto Services

Crypto exchange Blockchain.com has officially secured registration with the UK's Financial Conduct Authority (FCA), marking a significant development in the regulatory landscape for cryptocurrencies in the region.

This registration enables Blockchain.com to provide a range of services, including brokerage and custody, adhering to one of the strictest regulatory frameworks globally.

Founded in 2011, Blockchain.com has a robust history, having processed over $1.2 trillion in crypto transactions and managed 90 million wallets worldwide.

This new approval follows a previous MiCA license obtained last year, allowing Blockchain.com to operate across all 30 countries in the European Economic Area.

The UK is in the process of enhancing its crypto regulatory framework, set to be fully implemented by 2027, and Blockchain.com plans to apply for full authorization later this year.

Interestingly, this approval comes nearly four years after Blockchain.com halted its initial licensing attempt in 2022, pivoting to Lithuania at that time.

Now operating under the FCA's rigorous standards for crypto activities, Blockchain.com has aligned itself with traditional financial regulations, enhancing trust among customers.

In addition to its UK registration, there are rumors that the company may pursue a public listing in the U.S. through a SPAC.

If successful, this would position Blockchain.com alongside other recent public offerings in the crypto space, such as those by Circle and eToro.

Overall, this registration not only reinforces Blockchain.com's commitment to compliance but also reflects the evolving regulatory landscape for cryptocurrencies in the UK.