The coinpass management team has always believed in adhering to regulating parts of the cryptocurrency ecosystem that interface with the traditional world of finance. Transacting between banking and crypto on a single digital layer has been coinpass’s vision since its inception. Our registration with the UK Financial Conduct Authority is now in place, and our vision is another step closer to reality.

Jeff Hancock, CEO, and Co-Founder of coinpass, commented: "We're exceptionally pleased to be among one of the first UK-based cryptocurrency Trading Exchanges for retail investors and businesses to be fully registered with the Financial Conduct Authority as a crypto-asset firm. We understand and fully support that to evolve the cryptocurrency market to be more inclusive and attractive to a larger number of users, we would require regulatory guidelines for exchanges and gateways. The UK is a financial hub for investment and fintech, and it has the potential, under the FCA's guidance, to be a world leader in cryptocurrency regulation. With this registration, I am exceptionally bullish on the future of crypto in the United Kingdom and proud of our achievement.”

Previously, UK investors and traders in the cryptocurrency market were exposed to potential money laundering, loss of funds, and poor customer service by using offshore unregistered exchanges to invest in cryptocurrencies such as Bitcoin and Ethereum. Many UK banks have opposed cryptocurrency transactions from client accounts due to the jurisdiction of certain exchanges or the source of funds when trying to liquidate crypto assets holdings. The introduction of mandatory registration by UK crypto asset firms in adhering to Anti-Money Laundering guidelines, regulations, and policies for offering crypto asset will ensure strength and improvement in the cryptocurrency ecosystem for UK investors.

Coinpass Limited (coinpass.com) is a UK Cryptocurrency Exchange registered with the UK Financial Conduct Authority as a crypto asset firm. coinpass serves both retail and business customers wanting to buy, sell, trade, and hold cryptocurrencies such as Bitcoin and Ethereum in the United Kingdom.

‍www.coinpass.com

Media / PR Contact: pr@coinpass.com