Singapore-based cryptocurrency exchange Crypto.com has obtained an Electronic Money Institution licence from the UK’s Financial Conduct Authority. This approval, building upon Crypto.com's earlier registration as a cryptoasset business with the FCA in August 2022, aims to underscore the company's commitment to regulatory compliance, security, and privacy.

With the EMI authorization, Crypto.com is set to introduce a range of UK-specific e-money products, adhering to the robust regulatory framework of the FCA. According to Crypto.com, the move is a step forward in the company's plans to uphold high standards of consumer protection. In the official press release, representatives from Crypto.com emphasised the significance of the UK market and revealed their plans to collaborate with regulators while advancing their crypto innovation plans.

This announcement adds to Crypto.com's ongoing regulatory achievements, including securing a Major Payment Institution (MPI) license for Digital Payment Token (DPT) and an MPI for e-money issuance, account issuance, cross-border, and domestic money transfer services from the Monetary Authority of Singapore. Other approvals and registrations span various jurisdictions, such as the US, France, Singapore, Dubai, South Korea, Australia, Spain, Italy, Greece, Cyprus, and the Cayman Islands, showcasing the company's commitment to meeting regulatory standards around the world. What else has Crypto.com been up to? Founded in 2016, Crypto.com is a cryptocurrency exchange that focuses on regulatory compliance, security, and privacy.

With a vision of 'Cryptocurrency in Every Wallet,' the platform is working to support cryptocurrency adoption while supporting innovation. In September 2023, Crypto.com introduced Earn Plus as a new Crypto Earn programme that allows users to utilise a simplified reward structure, higher allocation limits, and greater reward rates. In essence, Crypto.com users gained the ability to allocate up to USD 1 million per token.

This is in addition to the existing Crypto Earn allocation limits, providing users with greater flexibility to allocate their assets and consequently earn more rewarding returns. Earn Plus offers a single rate and allocations are not subject to the existing tiering structure. This allows users to make use of the same rate on their entire allocation, according to their CRO lockup and deposit term.

This approach aims to simplify the calculation of total rewards, allowing for a more straightforward and transparent experience. Following this announcement, the company revealed its plans to introduce more tokens in the future. .