Bitpanda Gets FCA Approval to Offer Crypto Services in the UK

A cryptocurrency firm of Austrian origin, Bitpanda, has gotten approval from the UK’s Financial Conduct Authority (FCA). This approval will allow the company to offer its crypto services in the UK.

To this end, Bitpanda can now give investors access to hundreds of cryptocurrencies and other services.

More Crypto Options for UK Users

Thanks to the FCA approval, Bitpanda can offer over 500 cryptocurrencies to UK investors. The company also provides other services such as staking, savings plans, and crypto indexes. According to Lukas Enzersdorfer-Konrad, the deputy CEO of the company has said that this is the widest range of crypto assets available in the UK.

However, in 2023, Bitpanda stopped accepting new customers in the UK because of changes in crypto marketing rules. However, existing customers were still able to use their accounts during this time. Now, with the FCA’s go-ahead, Bitpanda is ready to welcome new users by providing full access to its services.

Bitpanda’s EU Similar Services

Bitpanda’s operations in the UK are very similar to its services in Europe. Earlier, the company obtained a license under the European Union’s Markets in Crypto-Assets (MiCA) framework. This license allows Bitpanda to operate in all 27 EU countries under the same rules.

In both the UK and Europe, Bitpanda offers a large selection of cryptocurrencies but does not plan to list UK-specific coins. The company and other exchanges like Coinbase and Kraken will not offer Tether’s USDT to their clients in these regions due to regulation requirements, as similar changes are needed to comply with these rules.

To this end, this approval shows signs that the firm is ready to build on its legacy in the UK while ensuring all regulations are followed. This serves as an exciting step for both Bitpanda and UK investors looking for digital asset options.

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