Coinbase Insights: BPX Exchange Gains FCA Approval as First New UK Crypto Register Entry Since April

The BPX Exchange, a digital securities platform specializing in investment funds, has achieved a significant milestone by being registered with the UK Financial Conduct Authority (FCA). This marks the first new addition to the UK crypto register since April 2025, highlighting the FCA’s cautious yet progressive approach to regulating digital asset services. The approval permits BPX to offer services to UK clients and approve promotions for affiliated entities, though it does not extend to retail services or crypto exchange operations, which remain restricted under current regulations. With only 52 firms having successfully navigated the FCA’s stringent requirements, BPX’s inclusion underscores its compliance and credibility in the evolving crypto landscape. This development signals growing institutional interest in tokenized securities and reinforces the UK’s position as a hub for regulated digital asset innovation. For platforms like Coinbase, such regulatory advancements pave the way for broader industry adoption and collaboration between traditional finance and blockchain-based solutions.

Tokenization Platform BPX Exchange Added to UK Crypto Register

The BPX Exchange, a digital securities platform for investment funds, has been registered by the UK Financial Conduct Authority (FCA), marking the first new addition to the crypto register since April. The approval allows BPX to offer services to UK clients and approve promotions for affiliated entities, though retail services and crypto exchange operations remain restricted.

Only 52 firms have cleared the FCA’s stringent anti-money laundering and promotion rules since 2020. This development aligns with Britain’s strategic push to establish itself as both a crypto and tokenization hub, following 2022’s regulatory reforms. Tokenization—creating blockchain-based representations of real-world assets—has become a focal point for UK financial innovation.

Notable registrants this year include Coinbase and BlackRock, underscoring institutional interest in compliant crypto infrastructure. The FCA’s selective approvals reflect its balancing act between fostering innovation and maintaining rigorous oversight.

KYC Risks in Crypto: Coinbase Hack and Solana Founder Doxxing Reignite Privacy Debate

For privacy-focused cryptocurrency users, few acronyms evoke as much dread as KYC—"know your customer." The mandatory process of submitting personal identification to exchanges, while designed to combat illicit activity, carries significant risks for both companies and individuals.

The issue resurfaced this week after solana co-founder Raj Gokal and his wife were doxxed, with attackers demanding 40 BTC ($4.3 million). Gokal attributed the leaked documents—including government IDs with home addresses—to a KYC procedure, though specifics remain unclear.

This incident follows Coinbase’s recent data breach, highlighting the vulnerabilities inherent in centralized custody of sensitive information. As regulatory pressures increase KYC requirements globally, the tension between compliance and privacy grows more acute—particularly in an ecosystem built on pseudonymity.