Robinhood Gets UK Crypto License Amid HOOD Stock Gains

Robinhood has secured approval from the UK's Financial Conduct Authority (FCA) to offer crypto services in the country. The FCA added Robinhood's UK unit to its list of firms authorized to provide crypto-asset services.

The regulatory update comes with a boost for HOOD stock, which was trading at $87.23, up 0.77% in premarket trading on Monday, August 3. This approval enables Robinhood's U.K. business to operate legally and meet U.K. anti-money laundering (AML) requirements.

The FCA registration system has approved over 50 companies since its introduction in 2020, including big digital asset companies like Ripple and Kraken, as well as traditional financial institutions like BlackRock and BNY.