Bitstamp, Interactive Brokers Just Gained UK Crypto Register Approvals

Accoridng to new reports, it seems that Bitstamp and Interactive Brokers have just gained UK crypto register approvals. Take a look at the latest reports about the matter.

The online publication The Block noted recently that Bitstamp, one of the oldest crypto exchanges, has received regulatory approval from the Financial Conduct Authority (FCA) to operate in the UK.

The approval has been reportedly granted on June 13, and this makes Bitstamp UK Limited the latest addition to the FCA’s crypto register. It is also important to mote the fact that this comes just a day after broker/dealer trading company Interactive Brokers (UK) secured approval.

“Notably, the FCA had not approved any crypto asset firms since Hidden Road’s registration in December, making these recent approvals the first in six months, joining companies such as TP ICAP, Revolut, Gemini, Kraken and eToro,” the same online pubcalition mentioned above notes.

According to the latest reports, it seems that the US-based venture capital firm Andreessen Horowitz (a16z) says that it is expanding to the United Kingdom (UK) because crypto regulations are clearer there.

In a new announcement, Chris Dixon, who is the founder of Andreessen’s $7.6 billion a16z crypto fund, stated the fact that crypto could only succeed where governments are establishing clear rules for digital assets.

It’s been also reported by the online publication the Daily Hodl the fact that the announcement comes just days after the U.S. Securities and Exchange Commission (SEC) sued the world’s top two crypto exchanges, Binance and Coinbase, for allegedly breaking their rules.

Dixon stated the following:

“Over the last year, it has become clear that blockchains and the software movement around them – usually called crypto or Web3 – can only succeed with a clear regulatory regime that provides an open pathway for startups while also protecting consumers from fraud and manipulation.”