But, what does that mean exactly?
London, United Kingdom. December 22nd, 2021.
As of December 1st, Babb Platform Ltd is officially registered with the FCA (Financial Conduct Authority) under the MLRs: Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. Babb is one of twenty-two crypto currency firms in the UK to have received the “registered” status from the FCA. As one of the registered cryptoasset firms, Babb will be under the supervision of the FCA when it comes to anti-money laundering and counter terrorist financing
What does that mean for the future of Babb and its users? 🤔
The FCA registration is not only a monumental win for the UK cryptocurrency industry, but also for the people in need of financial inclusion.
“This achievement and its rippling aftermath will bring Babb one step closer to our goal of financial inclusion for all. The crypto registration allows Babb to move forward with exciting new features that have been penciled into the company’s roadmap”
– Rushd Averroes, CEO & Founder.
What’s next? 🧭
The registration not only open doors for new opportunities but also keeps the existing doors wide open, allowing Babb to continue its crypto business activity. The application process for the crypto registration of the business was recently confirmed, while the application for an FCA SEMI is currently ongoing.