CoinJar, a headquartered Australian cryptocurrency exchange, announced today that its UK office, CoinJar UK Limited, has been officially registered by the Financial Conduct Authority (FCA) as a Cryptoasset Exchange Provider and Custodian Wallet Provider.
In January 2020, new regulatory powers were introduced that allow the FCA to oversee how UK crypto asset firms deal with the risk of money laundering and terrorist financing.
Now these companies must be registered and comply with Money Laundering, Terrorist Financing, and Money Transfers (Payer Information) 2017 (MLRs) Regulations.
CoinJar is headquartered in Canary Wharf, London and has actively structured its UK team to meet its compliance obligations, including hiring a dedicated UK Money Laundering Reporting Officer (MLRO) along with other compliance staff.
“We are very happy about this official recognition by the FCA and as one of the first to receive it. As a company that embraces regulation and innovation alike, the creation of a clear regulatory framework gives the FCA CoinJar long-term operational security in the UK that will benefit our investors and corporate partners. “
– Asher Tan, CEO of CoinJar
CoinJar was originally founded in Australia and will launch a number of new products in the UK this year, including a white label service for businesses that offers state-of-the-art digital currency processing in the backend and the consumer-centric CoinJar Card Mastercard that enables allow users to spend their crypto-like cash online and in-store.
Since its inception in London, Coinjar has signed a sponsorship deal with Brentford Football Club, which is playing in the Premier League for the first time this year. This is on top of their partnership with the Melbourne Demons, the contenders for the Aussie Rules premiere titles who happen to be enjoying their best season in years.