Coinbase, a platform for the exchange of crypto currency, will receive a license from FCA to use digital currencies in the UK and 23 countries in the European Union. This makes Coinbase the first licensed crypto exchange in the UK.
According to the FCA, Coinbase will be allowed to trade with the member states of the European Union and the UK.
This allows Coinbase to provide electronic money and provide payment services in the UK in the European Union. At the same time, the exchange must follow the strict rules established by the FCA and the Payment Services Directive.
The Credit Exchange also stated that their commitment to ensuring the security of customer funds will not be compromised and they will ensure that transactions with virtual currency have protection and operational standards in accordance with regulated financial institutions. Also, the exchange will store customer funds in the bank, and not in its funds.
In addition to these news, Coinbase will also support a faster payment scheme in the UK, which will offer all users the same experience as with the SEPA payment method, and will be tracked by all UK banks.
Author: Andrey, analyst Freedman Club Crypto News
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