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>>Ripple secures UK regulatory clearance before the FCA’s upcoming crypto licensing framework.

Ripple secures UK regulatory clearance before the FCA’s upcoming crypto licensing framework.

crypthub

about 17 hours ago

Regulatory Approval

Ripple Markets UK Ltd secured an Electronic Money Institution licence from the FCA, permitting it to provide payment services and issue electronic money in the UK. This approval marks a significant breakthrough for Ripple in regulated markets. It enables the company to conduct certain crypto‑related activities under the country’s Money Laundering Regulations.

Operational Restrictions

The licence imposes strict limits: Ripple cannot operate automated crypto‑asset exchange machines or serve retail clients without prior FCA consent. It may not appoint agents or distributors, nor issue electronic money to consumers, micro‑enterprises, or charities. These constraints keep the firm’s activities tightly controlled.

Future Compliance

The FCA will open a new registration regime for crypto firms in September 2026, with rules effective from October 2027. Ripple must reapply for authorisation under the Financial Services and Markets Act to maintain its services. Firms that miss the window will operate under a transitional provision, allowing existing contracts but prohibiting new regulated crypto activities.