GSR Secures FCA Approval for Crypto Operations in the UK

The crypto trading and liquidity-providing firm GSR has obtained approval from the UK’s Financial Conduct Authority (FCA).

This approval allows GSR Markets UK Limited to operate as a registered crypto asset business and to conduct various services, including crypto asset trading for UK-based clients, as announced in a release shared with The Block.

“Receiving FCA approval marks a significant milestone in our mission to shape a more transparent, inclusive global crypto trading ecosystem,” stated GSR Group CEO Xin Song. “By achieving approvals from two of the world’s leading financial regulators, GSR Group can confidently expand our services to institutional and professional clients globally while continuing to uphold the integrity and high-quality service that we are known for.”

In April 2024, the Monetary Authority of Singapore granted GSR’s Singaporean entity a major payment institution license, enabling the firm to provide over-the-counter and market-making services.

Additionally, GSR underwent a c-suite executive reorganization in mid-2024, resulting in the departure of co-founder and co-CEO Rich Rosenblum along with CTO John MacDonald, as previously reported by The Block.