GSR is the first crypto liquidity provider to be approved by both the British FCA and the Singapore MAS. International crypto trading giant GSR recently added an important and exciting update to its portfolio: The firm has received the green light from the FCA to act as an officially registered crypto asset business within the United Kingdom.
The approval, announced in a press release on the company’s website on January 6, can be regarded as a major step forward in the company’s relations with the authorities.
This FCA approval now makes GSR the first crypto liquidity provider with authorization from the FCA and Singapore’s MAS. With this twin regulatory approval, the firm can extend OTC and programmatic execution for cryptocurrency trading through its UK-based affiliate.
GSR’s FCA Approval Marks Milestone in Global Crypto Regulation
Xin Song, the Group CEO of GSR, underlined that this success is significant for the firm and its goals. “The approval by the FCA is another major step towards achieving our goal of making the crypto trading space fairer and more open worldwide,” – added Song. He also noted that the receipt of acquisition from multiple financial regulators should open doors for GSR to engage in other services across the globe within different and stringent regulatory requirements.
Although GSR has more than 120 specialists in the United Kingdom, it wants to engage with local lawmakers as the Country gradually builds its crypto regulation framework. The firm also expressed confidence in its ability to partly contribute to the development of a strong and exponential regulation arena.
This latest approval comes after GSR secured a Major Payment Institution license from the MAS in April 2024. These services include spot OTC and market-making services to its clients, and under Singaporean regulations, the license will establish the firm as a frontrunner in the provision of compliant digital asset trading.
With GSR gradually penetrating the regulated space of crypto options trading, the dual authorization from the FCA and MAS for operating in this market indicates the further integration of crypto liquidity providers into the financial system. Thus, this achievement enhances GSR’s competitive space in the worldwide market and the increasing acceptance of crypto trading under emerging conventional regulations.
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