FCA Regulated Crypto Exchanges in the UK

The FCA cryptoasset register exists under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (commonly called MLR 2017). Any firm wanting to offer cryptoasset exchange services or custodian wallet services in the UK must register with the FCA under these regulations.

This is not the same as full FCA authorisation. The cryptoasset register is specifically about anti-money laundering compliance. When an exchange is on this register, it means the FCA has assessed the firm and is satisfied that it has adequate policies, controls, and procedures in place to prevent money laundering and terrorist financing.

What FCA registration does not provide is consumer protection for your crypto investments. The Financial Services Compensation Scheme (FSCS), which protects bank deposits up to £85,000 and certain investments up to £85,000, does not extend to cryptoassets. If an FCA-registered crypto exchange collapses, you do not have the same safety net as you would with a bank or traditional investment platform.

What registration does guarantee is that the exchange has passed the FCA's assessment for anti-money laundering and counter-terrorist financing compliance. It has a registered UK entity, is subject to ongoing FCA supervision for AML purposes, and can legally promote cryptoasset services to UK consumers. The exchange must comply with the FCA's financial promotion rules, which since October 2023 require prominent risk warnings and a 24-hour cooling-off period for new investors.

It is worth noting that the FCA has rejected a significant number of applications to join the cryptoasset register. The bar for compliance is not trivial — firms must demonstrate robust governance, risk management, and AML controls. Being on the register is a meaningful signal that an exchange takes regulation seriously.

FCA Registered (Cryptoasset Register): This is the minimum legal requirement for a firm to offer cryptoasset services in the UK. Registered firms have met the FCA's anti-money laundering standards under MLR 2017. Most of the exchanges on this page — including Coinbase, Kraken, and Gemini — fall into this category.

FCA Authorised (Full Authorisation): A smaller number of firms hold full FCA authorisation, which is a significantly higher bar. eToro is fully authorised as an investment firm (FRN 583263), meaning it is subject to the FCA's full conduct of business rules, capital adequacy requirements, and client money rules. Revolut holds authorisation as an electronic money institution (FRN 900562), which brings its own set of stringent requirements around safeguarding customer funds.

Authorised firms have additional obligations: higher capital requirements, more extensive reporting to the FCA, mandatory client money segregation, and enhanced governance standards. They are subject to broader FCA oversight beyond just AML compliance.

However, even for fully authorised firms, their crypto activities are not covered by FSCS. If you hold crypto on eToro or Revolut and the firm fails, your crypto holdings are not protected. The FSCS protection that applies to eToro's traditional investment services (up to £85,000) does not extend to cryptoassets.

The best exchange depends on what you prioritise. Here are our recommendations based on common priorities:

• Beginners: Revolut or Coinbase — both offer intuitive apps, simple buy/sell interfaces, and are well-established with UK users. Revolut is particularly convenient if you already use it for banking.
• Low fees: Kraken — consistently offers some of the lowest trading fees among FCA-registered exchanges, especially for maker orders.
• Security-first: Gemini — founded by the Winklevoss twins with a strong emphasis on compliance and security. SOC 2 certified.
• Crypto cards: Crypto.com or Wirex — both offer crypto-linked debit cards with cashback rewards, letting you spend crypto in everyday transactions.

For detailed breakdowns of fees, features, and security for each platform, see our best crypto exchanges guide or compare exchanges side by side.

Of the exchanges reviewed on CryptoReview, OKX is the only platform that is not on the FCA cryptoasset register. OKX does not have a registered UK entity with the FCA, and it has not received authorisation or registration to offer cryptoasset services under UK regulations.

For UK users, this means OKX is operating without the FCA's oversight for anti-money laundering compliance. While OKX is a major global exchange with regulatory approvals in other jurisdictions, the lack of FCA registration means it cannot legally promote its crypto services to UK consumers. UK users who choose to use OKX do so without the assurance that the platform has met the FCA's AML standards.

We recommend UK users prioritise FCA-registered exchanges for the additional layer of regulatory assurance they provide.

You can verify any firm's FCA status directly on the FCA register. Here is how:

1. Go to register.fca.org.uk
2. Search by the firm name (e.g., “CB Payments” for Coinbase, or “Payward” for Kraken)
3. Click on the firm in the search results
4. Look for “Cryptoasset” in the firm's permissions or activities — this confirms they are on the cryptoasset register

You can also search by Firm Reference Number (FRN) — we have linked every FRN in the table above directly to the FCA register for easy verification. For more detail on specific exchanges, see our guides on whether Coinbase is FCA regulated, whether eToro is FCA regulated, and whether Kraken is FCA regulated.