Ripple Scores Big Regulatory Win From UK FCA: Details

Here’s the latest regulatory news surrounding Ripple.

Ripple Markets UK Ltd, the company’s local subsidiary, has registered with the country’s Financial Conduct Authority (FCA), in recognition of its compliance with anti-money laundering regulations.

Consequently, the Brad Garlinghouse-led company will now be able to conduct certain crypto-related activities in the United Kingdom.

Ripple Markets UK Ltd appearance being on the FCA’s register automatically means that the entity complies with local anti-money laundering and terrorist financing rules. However, the actual approval is not a full authorization for financial services, according to the website’s fine print.

With this development, Ripple continues to expand its footprint in several global regions, including Europe. Just a month ago, CryptoPotato reported that the company had secured its first banking partnership on the Old Continent with Switzerland-based AMINA Bank AG.

Both parties plan to support near-real-time cross-border payments for the bank’s customers using Ripple Payments.