Nikolas Sargeant
GSR, a prominent crypto trading and liquidity provider, has achieved a significant regulatory milestone by securing approval from the UK's Financial Conduct Authority (FCA). This registration enables GSR Markets UK Limited to legally provide crypto asset services to UK clients. CEO Xin Song emphasized this achievement as a step toward their vision of a transparent global crypto trading ecosystem.
Global Regulatory Expansion
The FCA approval strengthens GSR's regulatory portfolio, following their recent acquisition of a major payment institution license from Singapore's Monetary Authority (MAS). This dual regulatory recognition positions GSR to expand its institutional and professional services globally while maintaining high operational standards. The firm's progress comes amid leadership transitions in 2024, including the departure of co-founder Rich Rosenblum and CTO John MacDonald, and the appointment of former JP Morgan executive Andreas Koukorinis as head of trading.
UK's Evolving Crypto Landscape
This development aligns with broader regulatory changes in the UK's crypto sector. The Bank of England's Prudential Regulation Authority recently mandated firms to report their crypto asset exposure by March 2025, aiming to enhance financial stability. The directive requires detailed reporting of current and projected crypto activities through 2029, alongside compliance with Basel framework standards. Additionally, the UK government plans to implement a comprehensive cryptocurrency regulatory framework, incorporating stablecoins and staking services under a unified system.
