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Coinbase Becomes Electronic Money Institution Under U.K.’s FCA Regulations & Adds Support For Faster Payments

Disclaimer: This is not financial advice. I am not a financial advisor. What follows is my personal, subjective, biased opinion.

The News

Zeeshan Feroz, CEO of Coinbase UK, announced the firm is now in possession of a so-called e-money license. Additionally, the cryptocurrency exchange is the first to join the UK’s Faster Payments Service, enabling faster transfers of fiat currency into and out of Coinbase to and from local bank accounts.

Major strides in Europe: Coinbase is the First Crypto Exchange to Obtain a UK Bank Account

As EU customers were Coinbase’s largest growth region in 2017, the company is excited to be compliant with regulations, in order to make the product safer, easier, and faster to use, Feroz said.

The Facts

The FCA is the UK’s Financial Conduct Authority, and as such part of the government’s financial regulatory body, though it acts independently.

Being compliant with its Electronic Money Institution (EMI) license and the EU’s…