LONDON--(BUSINESS WIRE)--Crypto Facilities, the first cryptocurrency firm to receive a UK MTF licence, is pleased to announce it has been granted registration under the amended Money Laundering Regulations 2017 (MLRs) from the UK’s Financial Conduct Authority (FCA), giving Crypto Facilities the ability to expand the range of products and services available to UK clients as a registered cryptoasset business.
The FCA formally approved Crypto Facilities’ MLR application on the 3rd November 2021, confirming that Crypto Facilities is in full compliance with the MLRs in relation to its cryptoasset activities, and that it maintains the exact same AML/CFT standards as FCA-regulated banks, brokers, investment firms and payment service providers in the UK.
“Institutional and professional investors have strict compliance requirements and expect the firms they work with meet the same criteria,” said Gary Worrall, CEO at Crypto Facilities. “The MLR registration effectively ticks all the right boxes for both current and prospective clients to continue trading crypto derivatives on the Crypto Facilities platform. It paves the way for us to enhance and expand our offering, ensuring clients have access to the various exposures that best fit their investment needs.”
Since its founding in 2014, Crypto Facilities has contributed to the cutting edge of Europe’s crypto regulatory discussion. Acquired in 2019 by Kraken, it was the first cryptoasset company to receive a Multilateral Trading Facility (MTF) license from the FCA in 2020. Becoming a regulated venue enabled institutional and professional investors in Europe to access regulated crypto derivatives for the first time.
“Whilst the inflow of institutional funds into the cryptocurrency market has been remarkable over the past year, compliance and regulatory certainty remain a significant hurdle for many looking to gain exposure to digital assets,” Mr. Worrall added. “The MLR registration affirms Crypto Facilities’ commitment to regulatory compliance, providing assurances that we provide a safe and secure trading environment for crypto derivatives.”
To find out more about Crypto Facilities, please visit our website, or reach out to press@kraken.com.
About Crypto Facilities
Crypto Facilities Ltd. is a professional trading platform for derivatives on cryptoassets. Based in London, professional investors can trade an array of cryptocurrency derivatives, both long and short, around the clock, with up to 50x leverage. Crypto Facilities is authorised and regulated by the UK Financial Conduct Authority (FRN 757895).
About Kraken
Based in San Francisco, Kraken is the world’s largest global digital asset exchange based on euro volume and liquidity. Kraken’s global clientbase trades over 90 digital assets and 7 different fiat currencies, including GBP, EUR, USD, CAD, JPY, CHF and AUD.
Founded in 2011, Kraken was the first U.S. crypto firm to receive a state-chartered banking license, as well as one of the first exchanges to offer spot trading with margin, regulated derivatives and index services. Kraken is trusted by well over 8 million traders, institutions and authorities around the world and offers professional, round the clock online support.
Kraken is backed by investors including Tribe Capital, Hummingbird Ventures, Blockchain Capital and Digital Currency Group, among others. For more information about Kraken, please visit www.kraken.com.
