Robinhood has secured registration from the UK Financial Conduct Authority (FCA) to offer cryptocurrency services, according to CoinDesk.

The FCA added the company’s UK arm to its cryptoasset register, confirming that it meets the regulator’s AML requirements.

Effective from 31 July, the registration places Robinhood among more than 50 registered cryptoasset firms operating under the UK’s existing cryptoasset framework.

Introduced in 2020, the FCA’s current regime covers companies including crypto firms such as Ripple and Kraken, as well as traditional financial institutions like BlackRock and BNY.

The move comes ahead of the UK’s planned expansion of its crypto regulatory framework.

The FCA will open applications for firms seeking authorisation under the new regime at the end of September and close the application window in February next year.

Firms must obtain full authorisation from the FCA under the upcoming framework, even if they already meet the AML requirements under the existing regime.

These firms can use their existing FCA registration to prepare for the transition.

The UK will bring the new crypto regulatory regime into force in October 2027.

Featured image credit: Edited by Fintech News Switzerland, based on image by Frolopiaton Palm via Magnific