Coinbase obtains green light from FCA and provides direct encryption services in the UK.

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According to the latest information on the list of regulators' registered encryption asset companies, the UK Financial Affairs Bureau (FCA), a subsidiary of Coinbase, a subsidiary in the UK, a subsidiary of Coinbase, Greenlit CB Payments LTD. ( CBPL) is provided directly in Japan.

With newly awarded FCA registration, Coinbase can provide services directly to British customers without intermediaries. Companies that provide encrypted services in the UK must register for the FCA based on the relocation of money laundering, terrorism, and fund regulations 2017.

CBPL, which has obtained the permission of electronic money institutions since 2018, was previously facing a scrutiny of regulations. In 2020, the unit concluded spontaneous requirements with the FCA and dealt with the weaknesses of financial crime management.

FinTech Futures reported that the company later provided a service to about 13,000 high -risk customers, violating these restrictions and imposed a fine of 3.5 million pounds from the FCA last July.

The coin bass celebrated a new milestone on Monday blog posting. The company states that the registration of the virtual asset service provider (VASP) is positioned as the largest registered digital asset player in the UK market, and the company is the largest international market.

“This is an important registration to solidify powerful positions in the UK and unlock ambitious extensions,” coin base. “Our mission is to put the following 1 billion people on the cipher, giving priority to the security of customer assets and maintaining the highest level of compliance.

With this approval, Coinbase can provide both encryption services and FIAT services in the UK. The company has shown that while maintaining regulations, we will continue to cooperate with policymakers to promote innovation.

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