- GlobalBlock UK incorporates business in the EU and withdraws from the FCA registration process -
- Operations will continue uninterrupted beyond the FCA's 31st March 2022 deadline -
Over the past few weeks, the Company has had regular correspondence with the FCA regarding its Application and has decided that a withdrawal from the FCA process is in the best interests of its clients and shareholders, with a view to reapplying at some point in the future. A 60-day extension for GlobalBlock UK under the temporary registration regime has been agreed with the FCA to ensure the Company has a smooth transition to becoming a European based Virtual Asset Service Provider (VASP).
GlobalBlock is therefore pleased to announce that, in conjunction with the above decision and fitting with its plans to expand the customer base beyond the UK, it has incorporated GlobalBlock Europe UAB in the European Union jurisdiction of Lithuania. This means that GlobalBlock UK will remain registered under the FCA's temporary regime in the UK until the 25th May 2022, during which time the Company will be registered as a VASP in Europe. This will ensure all client assets and trading services will continue as normal and accounts will be transitioned into a more crypto friendly regime.
GlobalBlock remains committed to the highest of regulatory standards, employing stringent policies and procedures in respect to Know Your Customer, Anti-Money Laundering and Anti-Terrorist Financing.
Rufus Round, CEO of...
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