CoinJar, a Cryptocurrency exchange in Australia headquarters, Today announced that its UK office CoinJar UK Limited has Officially registered by the Financial Conduct Authority (FCA) As an encrypted asset exchange provider and a custodial wallet provider.
In January 2020, new regulatory powers were introduced, allowing the FCA to supervise how UK crypto assets companies manage money laundering and counter-terrorism financing risks.
Now, these companies must register and comply with the 2017 Money Laundering, Terrorist Financing and Fund Transfer (Payer Information) Regulations (MLR).
Headquartered in Canary Wharf, London, CoinJar is actively building its UK team to fulfill its compliance obligations, including hiring a dedicated UK Money Laundering Reporting Officer (MLRO) and other compliance personnel.
“We are very pleased to be officially recognized by the FCA and become one of the first companies to be recognized. As a company that embraces regulation and innovation on an equal footing, FCA has established a clear regulatory framework to give CoinJar’s long-term operational certainty in the UK, allowing us Investors and company partners benefit.”
– Asher Tan, CEO of CoinJar
CoinJar was initially established in Australia and will launch a series of new products in the UK this year, including white label services that provide enterprises with the most advanced back-end digital currency processing, and the consumer-centric CoinJar card MasterCard. Allow users to spend their cryptocurrency-like cash online and in-store.
Since its establishment in London, Coinjar has signed a sponsorship agreement with Brentford Football Club, which is the first time to participate in the Premier League this year. This is in addition to their collaboration with the Australian Rules Football Premier League competitor, the Melbourne Devils, who happen to be enjoying their best season in years.