Which Crypto Exchanges are FCA-Registered in the UK?

So which crypto exchanges are FCA-registered in the UK?

Cryptocurrencies like Bitcoin and Ethereum are going mainstream. But trading on a reputable platform is a really important part of using crypto.

What FCA registered means

While many people search for "FCA-approved" crypto exchanges, this term is incorrect. The FCA does not ‘approve’ or authorise cryptoasset businesses in the UK; Crypto exchanges can only be REGISTERED with the Financial Conduct Authority (FCA) under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (The MLRs). A cryptoasset business MUST be registered prior to being able to offer cryptoasset business activity in scope of the MLRs in the UK.

Cryptocurrency remains unregulated in the UK at present. It’s crucial to recognise that once your funds enter the crypto environment, no safeguards exist, in contrast to traditional investments. You shouldn’t anticipate protection if issues arise. Consequently, if you engage in cryptocurrency investments, you’re unlikely to have access to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) for support if problems occur.

The following exchanges are registered with the FCA; However, as mentioned above, It does not mean that the FCA approves or endorses their activities.

The FCA has also established rules on the marketing of crypto assets. These rules are designed to ensure that investors understand the risks involved in crypto investments. The below exchanges try to meet these rules as part of its registration.

FCA registration

So what does FCA registration mean? It means that the exchange has registered with the FCA for anti-money laundering purposes, and can offer in-scope cryptoasset business activities to UK customers.

FCA-registered crypto exchanges

Here are some exchanges that are FCA-registered in the UK. A registered cryptoasset businesses must meet money laundering regulations, and businesses marketing to UK customers must also meet the FCA's financial promotion rules to ensure their marketing materials are fair, clear, and not misleading.

CoinJar

CoinJar is a user-friendly exchange with numerous reviews and competitive fees.

It's a fantastic option if you're just starting out, or for seasoned traders there is an exchange here.

PayPal

While primarily a payment platform, PayPal now lets you buy, sell, and hold crypto. They are registered with the FCA.

Bitstamp

Bitstamp UK, an exchange started in Slovenia, is registered with the FCA under the Money Laundering Regulations 2017. This registration means that Bitstamp must adhere to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.

Kraken

A US exchange, operating as a registered cryptoasset firm under the Money Laundering Regulations. Kraken is registered through its UK entity Payward Ltd.

Gemini

Another US exchange, Gemini has a broader selection of cryptocurrencies and might be a bit more complex for beginners but are FCA-registered.

Coinpass

Coinpass was recently acquired by CFD provider Oanda but still for now operates as Coinpass. They were first registered with the FCA in 2021.

Ziglu

This is a UK-based exchange offering a selection of cryptocurrencies.

Is FCA registration a guarantee?

While FCA registration is a good sign, it's not a guarantee by any means. Crypto is a risky investment. Prices can go up and down quickly, and there's always the chance of scams. But choosing an FCA-registered exchange is a smart first step towards safer trading.

Key takeaway

Stick to FCA-registered exchanges. They offer a safer and more transparent experience, giving you peace of mind as you explore the fascinating world of cryptocurrencies.