Robinhood Gets Early Approval for UK Crypto Services

Robinhood, a popular stock and crypto trading platform, has secured registration with the UK's Financial Conduct Authority (FCA) to offer cryptocurrency services in the country. This move comes ahead of the new FCA rules that are set to take effect in October 2027.

The approval was granted on July 31, when Robinhood's UK subsidiary was added to the FCA's register of cryptoasset firms. This registration confirms that Robinhood meets the regulator's anti-money laundering requirements, allowing it to operate crypto services before the new regulatory framework takes effect.

Robinhood had previously announced plans to launch crypto services in the UK following its second-quarter earnings release on July 29. The company has been expanding its business beyond traditional crypto trading, with total net revenue rising 32% year over year to $1.31 billion in the second quarter.