Revolut receives full FCA registration for UK crypto business

The UK’s Financial Conduct Authority (FCA) has approved the crypto operations of Revolut Ltd., a key step for the British fintech’s ambitions to expand in the space, according to Bloomberg.

Revolut has been able to continue to offer crypto buying and selling services to UK consumers under a temporary waiver since March, when the FCA deadline for registration closed for existing businesses.

The long wait for authorisation is believed to have stemmed from AML compliance issues, which have since been resolved, says Finextra.

The FCA’s green light will provide some succour for Revolut, which is still awaiting the watchdog’s approval for a UK banking licence. Revolut submitted the licence application in January last year.