Blockchain.com Achieves Regulatory Milestone
Blockchain.com, a well-known cryptocurrency exchange founded in the UK in 2011, has recently achieved a significant milestone by obtaining registration from the Financial Conduct Authority (FCA). This regulatory approval allows the platform to offer various crypto services, including brokerage, custody, and institutional solutions, becoming active under one of the strictest regulatory frameworks globally.
Impact on Customers and Market
This development is pivotal for customers, promising enhanced security and oversight of their digital assets. With over 90 million wallets created and more than $1.2 trillion processed in cryptocurrency transactions, Blockchain.com has made a considerable impact on the global market, transitioning operations from York to London over the years. CEO Peter Smith remarked in a press release,
“We’ve been part of the UK’s tech landscape for over a decade.”
Strategic Positioning and Future Plans
The registration comes on the heels of Blockchain.com securing its MiCA license last year, allowing operations across all 30 countries in the European Economic Area. These acquisitions position the company strategically to operate in major regulated markets as the UK aims to implement a comprehensive cryptocurrency regulatory framework set to debut in 2027.
Looking ahead, Blockchain.com intends to seek full authorization in the UK when applications become available later this year. Furthermore, the exchange is reportedly exploring the possibility of going public in the United States via a special purpose acquisition company (SPAC). This method, which involves registering shares with the Securities and Exchange Commission to gather funds and then merging with a target company, has become a popular route for firms, including crypto entities like Circle, Bullish, and eToro.
