Bitstamp adds UK to its regulatory arsenal as FCA grants registration

Bitstamp, a prominent cryptocurrency exchange, has secured registration with the Financial Conduct Authority (FCA) in the UK, solidifying its compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

The company’s UK division can now offer various services, including custody of digital assets, facilitating fiat purchases of cryptocurrencies, and supporting cryptocurrency trading, according to a statement released by Bitstamp.

This registration further bolsters the FCA’s list of registered crypto firms adhering to AML/CTF regulations, which now stands at 42. It also boosts Bitstamp’s overall licenses and registrations globally to 52.

Bitstamp has been actively expanding its services across the European market, and this recent registration in the UK adds to its achievements. In late 2022, the company obtained a virtual asset service provider (VASP) registration in Spain, following a similar approval in Italy just four months prior.

While Bitstamp already operates in Luxembourg and the Netherlands, the approval in Spain grants it the ability to expand its suite of services, which includes electronic custody solutions.

The FCA’s inclusion of Bitstamp marks the first time in the past six months that the British watchdog has welcomed new companies to comply with AML/CFT regulations. This development aligns with the UK’s ongoing efforts to streamline its regulatory framework for digital assets. In February, the country’s Treasury published a consultation paper outlining the risks associated with the sector and the potential opportunities it presents.