Crypto.com says it’s compliant with the UK Financial Conduct Authority’s (FCA) new rules that went into effect on October 8th.
UK customers continue to have uninterrupted access to Crypto.com’s products and services.
Crypto.com says it’s “deeply committed to developing their platform and presence in the UK market.” The firm also supports any measures “that enhance consumer safety and security and will continue to work with regulators in the UK and abroad to help build consumer confidence in the crypto industry.”
The UK’s Financial Conduct Authority (FCA) has now added digital currency exchanges Huobi and KuCoin to its list of unapproved/unregistered firms, while cautioning clients that the service providers are offering various crypto services in the UK without obtaining regulatory approval.
Notably, these exchanges are amongst many other crypto-focused companies that were recently mentioned in the FCA’s warning list shared this past Sunday, as the regulatory authority further expands its oversight of the crypto space.
According to the updated guideliens which became effective on October 8th, 2023, all crypto firms that are marketing to UK consumers need to get registered with the FCA while also satisfying applicable standards regarding risk disclosures and related marketing practices.
Last month, Crypto.com announced the kickoff of its inaugural APAC Hackathon. The Hackathon, which is “supported by academic partners Singapore Management University and Melbourne Business School, invites participants across APAC to submit ideas that apply Web3 and A.I.-powered solutions to address the most critical areas of need in support of the 2030 Agenda for Sustainable Development.”
Prash Pandit, Senior Vice President, Product and Innovation at Crypto.com, said:
“Helping to foster innovation and the talent pipeline are key components to our commitment at Crypto.com of effectively and responsibly advancing Web3. We are tremendously excited to launch our APAC Hackathon programme, and to do so in partnership with such esteemed institutions of higher learning in Singapore Management University and Melbourne Business School. We look forward to reviewing submissions from across the APAC region and helping advance conceptual ideas to an exciting reality.”
The Hackathon aims to “promote responsible innovation in the space of Web3 and AI to solve these critical global sustainability issues, with guidance and insights from the academic experts in Singapore Management University and Melbourne Business School.”
Through this strategic initiative and partnership, Crypto.com commits “to further strengthen the thought leadership and talent pipeline in Singapore, and further elevate Singapore status as the global hub for responsible innovation in Web3 and AI.”