Ripple Achieves Significant Regulatory Approval from UK's FCA
Ripple has made strides in regulatory compliance as its UK subsidiary secures recognition from the Financial Conduct Authority.
Ripple Markets UK Ltd, the local branch of the company, has achieved registration with the UK’s Financial Conduct Authority (FCA), confirming its compliance with money laundering regulations. This allows Ripple to perform specific cryptocurrency-related functions within the UK. The registration signifies compliance with local anti-money laundering and counter-terrorist financing legislations, though it does not constitute full financial services authorization as indicated on the FCA’s site.
This milestone enables Ripple to extend its operations globally, including recent developments in Europe. A month prior, CryptoPotato reported that the company established a banking partnership in Europe with AMINA Bank AG in Switzerland, aiming to facilitate near-instant cross-border payments for the bank’s customers using Ripple Payments.
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