Robinhood wins UK crypto registration before new regulatory regime kicks off
Robinhood's U.K. subsidiary has officially been added to the Financial Conduct Authority’s registry of cryptoasset firms. This registration confirms the company meets U.K. anti-money laundering standards ahead of a broader, more comprehensive regulatory framework set to take effect next year.
Why it matters
Securing this registration positions Robinhood to navigate the U.K.'s upcoming, stricter crypto regulatory regime more effectively than competitors who have yet to achieve compliance.
Robinhood’s U.K. arm was added to the Financial Conduct Authority’s (FCA) list of registered cryptoasset companies as of July 31.
The company’s existing FCA registration means it meets the regulator’s requirements where it comes to anti-money laundering (AML). A regime for crypto firms has been in effect since 2020 and now numbers over 50 approved companies, including Ripple, Kraken and traditional finance (TradFi) giants like BlackRock and BNY.
Winning the regulator’s permission to offer crypto services has added significance ahead of the inception of the more comprehensive framework for crypto regulation in the U.K . The authorization process opens at the end of September and closes at the end of February next year, ahead of the full regime coming into force in October.
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