According to TechFlow, representatives of Ripple and Binance have informed British lawmakers that the two companies hope to obtain a license from the Financial Conduct Authority (FCA). Ripple's policy director Susan Friedman said that Ripple has about 60 employees in the UK, and although the company's current business model does not require it to register with the FCA, Ripple plans to apply for a license as its business in the UK expands.
According to previous news, Binance has hired an executive with compliance experience as its UK director. Binance's UK subsidiary will be committed to complying with FCA regulations and operating a regulated crypto asset business in the UK.