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The UK’s Financial Conduct Authority (FCA) recently approved Bitstamp and Interactive Brokers to join its registry of crypto asset service providers, marking the first additions in six months. These approvals emphasize the FCA’s focus on enforcing anti-money laundering and counter-terrorist financing legislation, ensuring a safer environment for cryptocurrency consumers and investors.

The UK’s Financial Conduct Authority (FCA) has updated its crypto register, adding Bitstamp and Interactive Brokers, signaling greater regulatory oversight in the expanding crypto market. This development poses both opportunities and challenges, balancing innovation with adherence to anti-money laundering rules. The outcome of the ongoing finance bill debate will determine the future path of cryptocurrency regulation in the UK.

Binu Paul, former head of digital assets at the FCA, leaves the organization after nine months, and Victoria McLoughlin steps in as interim Head of Market Interventions for digital assets. This leadership change occurs amid the FCA’s intense focus on regulating the emerging crypto industry and enforcing stricter advertising rules for crypto services. McLoughlin’s experience at the FCA signals a continued stable approach to cryptoasset regulation.

The CFTC has granted Cboe Global Markets approval to expand its range of crypto-related products as a derivatives clearing organization. This allows Cboe to offer clearing services for digital asset futures on a margin basis while implementing risk-reduction measures, signaling an evolving relationship between traditional finance and digital assets.

“Social media giant, X, has established cryptocurrency payments for its global audience, following recent approval from regulatory authorities. This brings good tidings for X’s network of 400 million users who can potentially interactively share via cryptocurrencies, transforming the social media platform into an ‘everything app’.”