'B2C2 OTC Ltd' Received Approval From Financial Regulator 'FCA' In UK.

'B2C2 OTC Ltd' Received Approval From Financial Regulator 'FCA' In UK.

2019-02-02 | Big Bob

'B2C2 OTC Ltd' Received Approval From Financial Regulator 'FCA' In UK.

In line with a 'record' within the FCA’s register, United Kingdom crypto liquidity startup named B2C2 OTC Limited has received approval from the country’s FCA [Financial Conduct Authority] recently on 30th Jan.

An another 'announcement' notes that B2C2, that additionally provides electronic OTC [over-the-counter] commercialism, will now also offer CFDs [contracts for differences] to eligible counter parties and pro clients.

The the co-founder of the B2C2, Max Boonen, believes the acceptance of the license can enable investors to gain exposure to cryptocurrency markets whereas avoiding the risks related to crypto custody.

Moreover, the FCA can also compensate customers just in case B2C2 fails, as this can be seen from the text mentioned within the registry record.

As reported earlier in January, the FCA recently 'revealed' a consultation paper titled “Guidance on Crypto-assets.”

Within this 'paper', the regulator describe several ways to classify crypto’s: digital assets are to be considered as “Specified Investments” below the United Kingdom [RAO] Regulated Activities Order or “Financial Instruments” regulated by the Markets in Financial Instruments Directive II.

The FCA additionally mentions within the paper that such assets might be regulated by E- Money norms or Payment Services norms.

Prior to this, the FCA had proclaimed earlier in Dec 2018 that it had been investigating 18 firms over cryptocurrency use below the freedom of data laws.

Earlier in Oct., the U.K. FCA had additionally noted that they were even thinking banning crypto-based derivatives, as they presently fall under the FCA’s restrictive perimeter and therefore needs its official authorization. The FCA added at the time that they would launch a consultation in early 2019 on the matter.

Even in Nov., the financial regulator issued an announcement in public interest warning them of the high-risks of investing in crypto CFDs. And in Nov, the [FCA] 'proclaimed' that they were additionally considering banning crypto futures as a part of their standard industry response.

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