Boutique regulatory service gets green light to approve crypto promotions in UK – The Armchair Trader

A regulatory services firm with a cumulative experience of over three decades in the legal, regulatory, and financial landscapes of the UK, has obtained authorisation from the Financial Conduct Authority (FCA), allowing it to approve cryptoasset promotions in the United Kingdom.

It is a significant accomplishment which positions Englebert as a player in the regulatory domain for cryptoassets in the UK, which has not been the friendliest market for cryptocurrencies recently.

The move marks a departure from conventional norms dominated by the industry giants. The newly established firm, composed of seasoned professionals from traditional financial services and the crypto sector, has collectively amassed a wealth of expertise over the past 30 years, positioning Englebert to achieve what was once considered the exclusive realm of financial behemoths.

Crypto assets promotions are regulated in the UK

As of October 8, 2023, a pivotal regulatory shift came into effect, mandating that entities wishing to promote a cryptoasset in the UK must be authorised or registered with the FCA or obtain approval from an authorised party. With its FCA-authorisation in place, Englebert now possesses the capability to approve cryptoasset promotions, streamlining the way for compliant promotions to be issued from unauthorised businesses into the UK market.

Traditionally, gaining registration as a cryptoasset business in the UK has proven to be a formidable challenge, with a staggering 85% of applications to the FCA resulting in rejection or forced withdrawal. Englebert offers expert guidance and the ability to sign off on applications, providing a lifeline for businesses navigating the complex UK regulatory framework.

Gareth Malna, co-founder of Englebert, said: “Our team’s tenacity and deep understanding of the regulatory landscape have fuelled this extraordinary accomplishment. Securing FCA approval allows us to demonstrate our commitment to simplifying the regulatory journey for businesses, irrespective of their size. We’re not just rewriting the rules; we’re transforming the game.”

Englebert is aiming to make UK regulatory processes more accessible for companies in the cryptoassets space. “Our aim has always been to level the playing field for businesses, ensuring they can navigate regulatory landscapes with confidence,” said Wayne Green, who founded Englebert with Malna. “Today, we’ve not only obtained FCA approval but have paved the way for a more inclusive and streamlined regulatory future.”

They believe Englebert’s success will challenge the status quo and reinforce the firm’s dedication to driving positive change within the crypto regulatory sphere. “This achievement not only reflects the prowess of the firm but also opens up new possibilities for businesses seeking promotion approvals in the burgeoning crypto landscape,” said Green.