Baanx from the FCA approved as a crypto-asset business

The global infrastructure provider recently announced the introduction of the Barmitkart Crypto Life (CL) in cooperation with Ledger

Provider of cryptocurrency technology Baanx has now been included in the list of the first companies in Great Britain that have received the approval of the Financial Conduct Authority (FCA). The company can now legally operate as a crypto-asset business, as stipulated in the regulations on money laundering, terrorism financing and money transfers (information on payers) 2017.

“ to receive this registration, we have worked closely with the FCA according to the highest possible standards to ensure that the users of our first -class customers have the necessary security for the conformity of their assets.” Mark Evans, Chief compliance officer at Baanx, explained .

Thanks to the FCA license, Baanx is now expanding its range of services for its customers, since it can now offer safe swap products under cryptodraft. With the new additions, crypto holders can secure their expenses. This is an important milestone because the company recently announced a partnership with Ledger.

As part of the partnership with Ledger, a Crypto Life (CL) debit card was introduced, which, according to the company, is to be operated via the Ledger Live App (deposits and administration). Users will access liquidity and set up stablecoin credit, which are secured with crypto as collateral for a sentence from 0% effective annual interest. The Warteliste Setup is slowly growing with over 150,000 consumers.

Garth Howat, founder and CEO of Baanx, praised the latest milestone of the crypto security infrastructure company as one that shows continuing success as a disruptor of the financial technology world. He found that the initiatives of his company, in particular the CL card, are all on the way to expand the benefits of the native BXX token.

crypto.com is the latest victim of the British ASA advertising ban

The UK Advertising Standard Authority (ASA) included Crypto.com in the list of stock exchanges and companies that have seen ads blocked by the regulatory authority. The ASA ordered Crypto.com to set the display of two mobile advertisements that made it easier to buy crypto and make the return of digital assets easier.

According to the regulatory authority, the stock exchange did not clearly show the potential users the risks of the advertised products. In addition, the crypto company is accused of not using credit cards to have the restrictions on the acquisition of crypto and the lack of market understanding of the target consumers.

other high-ranking crypto trading platforms that were previously banned are coin base and octopuses. Although Crypto.com has already settled the matter and has withdrawn the advertisements, it has dealt with the ASA and defended that its marketing ads did not violate the provisions mentioned.