Is Cryptocurrency Legal in the UK?

Over the past few years, cryptocurrency has come into the public eye more than ever, as large investment firms begin to heavily invest in blue-chip cryptocurrencies like Bitcoin and Ethereum.

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FCA Registered OANDA Crypto Platform to Offer Crypto Trading in the UK

The US-based forex broker OANDA has announced its foray into thecryptocurrency trading realm in the United Kingdom with the launch of its newplatform, OANDA Crypto. The platform, registered with the countrys financialregulator, the Financial Conduct Authority (FCA), is poised to offer an arrayof cryptocurrency trading options to British investors.

OANDA Ventures into the UK Crypto Market with OANDA CryptoPlatform

The establishment of OANDA Crypto represents the culminationof last years acquisition of a majority stake in the FCA-registered crypto firmCoinpass. This strategic move positions OANDA to tap into the burgeoning cryptomarket in the UK, which has witnessed a surge in interest and participation.

OANDACrypto is set to facilitate trading in over 63 cryptocurrency pairs featuringpopular digital assets, such as Bitcoin, Ether, and Ripple. The company hasoutlined plans to incorporate additional tokens and introduce new featuresthroughout the year, catering to the evolving needs and preferences of cryptotraders.

Journey from the US to the UK and Mainland Europe

Lucian Lauerman, OANDAs Head of Digital Assets, emphasizedthe allure of the UK market, citing its high level of participation andsophisticated investor base. In an interview, Lauerman stated: What we likedabout the opportunity in the UK, when it comes to crypto, is that its becomingmore aligned with the markets where weve traditionally operated. Theregulatory bar has been set slightly higher.

Global trading firm @OANDA is opening an FCA-registered crypto division in the UK. By @IanAllison123https://t.co/KCmSVealIu

OANDAs expansion into the UK follows its existing presencein the US crypto market through a partnership with Paxos, regulated by the NewYork State Department of Financial Services. Furthermore, the company hasrealigned its operations in mainland Europe by relocating from Malta to Warsaw,Poland. This strategic move was facilitated by the acquisition of the Polish brokerDom Maklerski TMS Brokers SA, which has been rebranded as OANDA TMS.

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