TechFlow reported on February 3 that according to CoinDesk, Coinbase has officially obtained a cryptocurrency registration license from the UK Financial Conduct Authority (FCA), becoming the largest licensed cryptocurrency exchange in the UK. Keith Grose, CEO of Coinbase UK, said the license will help the platform expand into new channels and launch innovative products and services. It is understood that only 14% of applicants successfully obtain an FCA license, and Coinbase took six months to complete the approval process.
Previously, Coinbase had been providing e-money services in the UK since 2018 through its subsidiary CB Payments Ltd., but was not permitted to directly offer cryptocurrency services. The new license will allow Coinbase to provide both fiat and cryptocurrency services, and to directly communicate with the FCA regarding staking, stablecoins, and other activities, without requiring third-party regulatory intermediaries.
