One of Europe's largest startups, Revolut, has announced it had received a temporary registration by the Financial Conduct Authority (FCA). The company said in an official announcement that the watchdog has granted it a temporary registration, which is valid until 9 July 2021.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
"This means we can continue to offer our crypto services to use as usual," the company emphasized.
iHodl previously reported that the FCA decided to extend the deadline in which crypto companies that have applied for registration with the regulator can operate. The watchdog extended the deadline due to the impossibility of studying all applications received in time. As a result of this extension, crypto companies whose applications for registration still must be reviewed and approved by the regulator can operate until July 9, 2021.
Nonetheless, the FCA warns investors about cryptocurrency-related investments. The UK's watchdog claims it is "aware" that some firms are offering crypto investments with high returns promises. Such schemes generally involve taking high risks with investors' money, the FCA points out.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.