Bitpanda, a Vienna-based crypto platform, has received approval from the UK's Financial Conduct Authority to enter the country's market, offering more than 500 cryptocurrencies.
Bitpanda Entering the UK Market
The crypto platform Bitpanda has received permission from the UK Financial Conduct Authority (FCA) to offer more than 500 cryptocurrencies on the country's market. This allows the company to provide services for buying, selling, staking, and trading cryptocurrencies, offering wide opportunities for investors and crypto enthusiasts.
Compliance with UK Regulations
Bitpanda's management states that they will adhere to UK norms but do not plan to introduce UK-specific cryptocurrencies. Meanwhile, USDT services will not be available to clients in the UK and the European Union. This decision follows approval in the European Union market (MiCA) in January 2025.
Reframing Laws for Digital Assets in the UK
In recent quarters, the UK has introduced several new regulations for digital assets. According to the FCA, awareness of cryptocurrency in the country in 2024 increased from 91% to 93%, which was due to recommendations and knowledge from close people. The number of crypto users has also increased: there are 650 million in the world, including 10 million residents of the UK.
Bitpanda's entry into the UK market indicates growing interest and activity in the digital market. Despite some restrictions, UK regulations are aimed at ensuring security and transparency in digital asset operations.
