Popular cryptocurrency exchange, Bitstamp has secured a regulatory approval from the United Kingdom. The exchange announced the development in its Tuesday blog post. This development thus means Bitstamp is now recognized as a registered crypto asset service by the Financial Conduct Authority of the United Kingdom.
Bitstamp, with this regulatory approval, is now among the few exchanges recognized by the UK’s Financial Conduct Authority (FCA). The exchange aims to operate in the country in line with government regulations. Meanwhile, this latest feat brings the exchange’s total licenses to 52. With that, Bitstamp has cemented its position as one of the well-recognized crypto exchanges in the world.
Barely a few months ago, the exchange secured a similar license in France. According to its announcement at that time, the license makes it eligible to offer virtual assets products, and services to users in France. Similarly, this approval further signifies its commitment to adhering to the international stipulation of Anti-money Laundering,(AML), and Counter-Terrorism Financing protections.
Bitstamp added that its regulatory success in the United Kingdom affirms its relentless commitment to providing top-notch services to users. It, however, promised to avail U.K. users with secure access to crypto products while adhering strictly to those regulations.
Bitstamp prioritizes advanced users experience for U.K. citizens
Worthy of note that Bitstamp seeks to leverage the regulatory license to offer varieties of services to both institutional and retail customers. These services include custody of crypto assets, purchase or sale of crypto assets, and trading of crypto assets, among many others.
Meanwhile, this development comes a few months after BitStamp emerged as the first among 130 centralized crypto exchanges in CCData’s benchmark report. According to findings, the exchange is the only exchange that earned the highest rating in the latest reports of CCData. Bitstamp describes the recognition by CCData as a testimony of its persistent dedication to expanding its presence across Europe.
It is worth mentioning that Bitstamp’s main vision is to become the most compliant, secure, and transparent crypto exchange for individual and institutional clients. More so, it aims to sustain its regulatory compliance mechanism to cement a good relationship with regulators across the globe.