Key Takeaways:

• BlackRock has successfully registered with the FCA’s challenging crypto asset register.
• Of 368 applications submitted, only 51 firms were authorized to operate in the UK.

BlackRock has obtained approval to join the Financial Conduct Authority’s crypto register, as confirmed by the regulators’ website. The company will act as an arranger for iShares Digital Assets AG, responsible for issuing Exchange Traded Products (ETPs) linked to cryptocurrencies.

Since its establishment in 2020, the FCA’s crypto register aims to ensure compliance with anti-money laundering regulations. Though it is a remarkable achievement, registration does not mean BlackRock can directly onboard new customers or independently conduct specific crypto transactions without regulatory consent.

Additionally, firms like Coinbase have similarly secured spots on the register, paving the way for a new cryptocurrency operational landscape in the UK.