Robinhood Wins UK Crypto Registration Ahead of FCA Regime

Robinhood has secured registration for its UK crypto operation ahead of the country's new regulatory regime. The Financial Conduct Authority (FCA) granted Robinhood U.K. Ltd, a business based in London, registration as a cryptoasset firm.

The registration is significant because it confirms Robinhood's compliance with the UK's anti-money laundering requirements and allows the company to offer cryptocurrency services under current rules.

Robinhood can now provide certain cryptoasset services such as acting as a cryptoasset exchange provider or custodian wallet provider. This will complement its existing offering of U.S.-listed stocks, options, futures, margin, and Stocks and Shares ISAs in the UK.

The registration is also a positive development for Robinhood's international crypto operations and future growth. The company recently reported a decline in crypto revenue to $100 million in its second-quarter earnings results.