Robinhood Wins UK Crypto Approval Ahead of Regulatory Overhaul

Robinhood has been approved to offer crypto services in the UK, joining a handful of companies licensed by the Financial Conduct Authority (FCA). The platform's inclusion in the country's registry of approved crypto assets firms was recorded on July 31. This confirms that Robinhood meets the FCA's money-laundering requirements, or MLRs, necessary for crypto providers to operate in the UK.

The listing adds Robinhood to a list of over 50 companies that have met the FCA's MLR standards. Other notable additions include PayPal, BlackRock, and Bitstamp. The Bank of New York Mellon was also recently added to the list on June 22.

This approval comes two years after Robinhood launched its UK entity under a waitlist in 2023, with trading commencing later that year. The platform's entry into the UK market coincides with the FCA's preparations for a new crypto regime, which will expand regulations to include capital and stablecoin standards.