2024

Read

<p class="is-style-lead">Banxa’s U.K. affiliate became the inaugural company in 2024 to be listed on the Financial Conduct Authority’s (FCA) crypto register.</p> 
<p>This <a href="https://register.fca.org.uk/s/firm?id=0014G00003BZWsGQAX" data-type="link" data-id="https://register.fca.org.uk/s/firm?id=0014G00003BZWsGQAX" target="_blank" rel="noopener">registration</a> enables BNXA UK VASP to offer crypto services within the region. Brinda Paul, the company’s general manager and former director of compliance at Banxa, leads the firm’s efforts to align with U.K. regulations.</p> 
<p>Banxa offers fiat-processing services to cryptocurrency exchanges, including <a href="https://crypto.news/tag/binance/" data-type="link" data-id="https://crypto.news/tag/binance/">Binance</a> and <a href="https://crypto.news/tag/okx/" data-type="link" data-id="https://crypto.news/tag/okx/">OKX</a>, which have yet to receive crypto approval from the FCA.</p> 
<p>The firm plays a significant part in supporting these exchanges by managing identity verification and transaction processes, helping to ensure they adhere to regulatory requirements.</p> 
<p> You might also like: <a href="https://crypto.news/uk-publishes-fca-regulations-for-digital-securities-sandbox/"> UK publishes FCA regulations for digital securities sandbox </a> </p> 
<p>The FCA’s registration requirement is part of broader regulations to ensure companies promoting financial products to U.K. customers are either registered or have their promotions approved by an authorized firm.</p> 
<p>The move has led some unregistered entities, including Binance, to alter <a href="https://crypto.news/binance-faces-challenges-in-re-entering-uk-amid-partner-concerns/" data-type="link" data-id="https://crypto.news/binance-faces-challenges-in-re-entering-uk-amid-partner-concerns/">operations</a> in the U.K., such as halting the acceptance of new clients and facing challenges in advertisement approvals.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="EP. 13 Uniting Traditional Finance and Cryptocurrency Feat. Holger Arians | 5 Min Crypto" width="1020" height="574" src="https://www.youtube.com/embed/J_4yGdiABCs?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
<p> Read more: <a href="https://crypto.news/okx-introduces-new-uk-rules-under-fca-requirements/"> OKX introduces new UK rules under FCA requirements </a> </p>

Banxa joins UK crypto register to support Binance, OKX

crypto.news

Other articles published on Feb 13, 2024

Bitcoin Surges Past $50,000, Analysts Weigh In

Safeguarding Wealth in Real-World Asset Tokenization: Navigating Beyond the Hype

Chainlink’s Role in Streamlining Global Trade Challenges – Part 2

Bitcoin Grapples with Inflation and Interest Rate Speculations as Prices Fluctuate

Focus on Litecoin ahead of Bitcoin halving, Solana traders switch to KangaMoon

Bearish Analyst il Capo Shared His Altcoin Rally Predictions, Announced Four Altcoins He Recently...

Join our free newsletter for daily crypto updates!