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FTX Subsidiary Seeks Regulatory Approval to Enter UK Market

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golden shining bitcoins with flag of great britain on a computer electronic circuit board. bitcoin mining concept.

FTX division, FTX Europe, is engaging the UK’s Financial Conduct Authority in an expansion plan into the country.

Source: Coindesk

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The subsidiary’s head, Patrick Gruhn, confirms that the discussions have begun with the regulator to have operations in the country.

The United Kingdom has been considered the center of cryptocurrency exchange, where its watchdog is expected to roll out more policies touching on the industry.

FCA maintains that all cryptocurrency service providers in the county must obtain complete registration by March 31. The entity has only approved 33 firms registered to be under its supervision.

FTX Europe is based in Switzerland with additional offices in Cyprus. The firm recently became the first cryptocurrency exchange for having an operating license in Dubai.

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