Coinbase receives e-money license in the United Kingdom and European Union

Coinbase, a cryptocurrency exchange platform is grated with e-money license in the United Kingdom and 23 countries within the European Union by the Financial Conduct Authority [FCA]. This makes Coinbase the first cryptocurrency exchange platform to support the United Kingdom’s Faster Payment Scheme.

As per FCA, Coinbase will be allowed to trade with the European Union Member Nations and the UK. If in case the license does not apply to all the other nations apart from the UK., Coinbase will suspend operations until a second license is granted from a member nation.

This allows Coinbase to supply e-money and provide payment services in the UK and EU. In the meanwhile, Coinbase is required to follow the rigid rules and regulations enforced by the Financial Conduct Authority [FCA] and the Payment Services Directive.