Robinhood Clears Hurdle for UK Crypto Services

Robinhood's UK unit has secured registration with the Financial Conduct Authority (FCA), allowing it to offer crypto services in the country. The registration indicates that Robinhood complies with the FCA's anti-money laundering requirements under its current crypto framework.

This makes Robinhood one of over 50 approved companies, including Coinbase and Kraken, that have met the FCA's standards for operating in the UK.

The approval comes ahead of the UK's upcoming crypto licensing regime, which will introduce new regulations for crypto firms. Applications for the new framework are set to open later this year, with the rules coming into force in October next year.