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Robinhood Subsidiary Gets FCA Approval To Operate In U.K

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Robinhood International, Ltd., a unit of U.S.-based commission-free stock and cryptocurrency trading platform Robinhood Crypto, received approval from financial regulator in the U.K. to operate the trading platform in the country.

Financial Conduct Authority, which regulates U.K. financial services, authorized Robinhood International to operate as a broker for customers in the U.K.

Robinhood has appointed Wander Rutgers to lead the U.K. business from its new London office as the President of Robinhood International. Previously, Rutgers has spearheaded the investing and savings product at money management firm Plum Fintech.

After securing the BitLicense and a money transmitter license in late January to operate in New York, Robinhood had rolled out operations for customers in New York in late May, eanbling them to invest in cryptocurrencies such as Bitcoin.

The controversial BitLicense regulatory framework is aimed at monitoring and regulating operations of cryptocurrencies such as Bitcoin and cryptocurrency-related products being offered in the State of New York and to New York residents.

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