- Galaxy Digital UK secures FCA approval for derivatives trading.
- UK crypto regulations strengthen Galaxy Digital’s growth.
Galaxy Digital UK, a subsidiary of the well-known digital asset financial services firm, has received approval from the U.K. Financial Conduct Authority (FCA) to conduct derivatives trading. The FCA added the company to its crypto register in 2021. This approval marks an important advance in the company’s global growth strategy while maintaining strict regulatory standards.
Galaxy Digital UK Strengthens Institutional Offerings with FCA Approval
The approval permits Galaxy Digital UK to manage derivatives trading operations from its London business facility. This new development allows Galaxy Digital to expand its operations effectively within a top-tier global financial market. The company demonstrates its intention to unify traditional financial services with digital assets through core business efforts.
In addition, the investment banking division of Galaxy Digital has obtained permission to provide capital raising and investment banking services from its London office. Galaxy Digital UK will support the company’s asset management business through its involvement in fund distribution activities. The new regulatory status will make Galaxy Digital better equipped to serve institutional customers who seek digital assets.
On the other hand, the company maintained its business expansion while dealing with legal matters. The company recently accepted a $200 million payment deal with the New York Attorney General’s Office. The company actively promoted the cryptocurrency LUNA without telling the public that it had already disposed of its holdings. However, the profit-making activities of Galaxy Digital went undisclosed to the public while the company continued to generate profits through undisclosed sales activities.
The FCA approval marks a significant milestone, according to Leon Marshall, who serves as CEO of Galaxy Europe and Global Head of Sales. This regulatory approval enables the company to supply innovative trading solutions through strict adherence to current regulatory requirements. He stressed that London stands as a vital global financial center. Further, he said that the approval provides Galaxy Digital with better opportunities to expand its operations across the UK market.
Galaxy Digital Gains FCA Approval to Boost Global Reach
The company Galaxy Digital facilitates trading operations with more than 1,300 institutional clients and maintains divisions throughout Europe, North America, and Asia. With the FCA license, the company can strengthen its support for global digital asset demand. It also confirms Galaxy Digital’s role as a leading player in the digital asset derivatives market.
Mr. Marshall further highlighted the UK’s approach to crypto regulation. He commended the nation’s vision to maintain an emerging regulatory framework that supports continuous development. Further, he emphasized that the UK government’s commitment to innovation and investment has established the country as an attractive hub for digital asset businesses. Marshall also noted that the country maintains an exceptional pool of talented workers alongside leading universities and an entrepreneurial spirit, which drives its success in digital assets.
Ultimately, the evolving digital asset industry requires Galaxy Digital and other firms to understand and follow all necessary regulatory requirements. The FCA approval lets Galaxy Digital UK develop new services and earn trust from institutional investors. The digital asset industry leader Galaxy Digital continues its market dominance by building strength through regulatory endorsement across strategic markets.
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