Lysis enabled a major US crypto exchange to achieve UK FCA registration through full regulatory transformation, governance design, and compliance support.
Payment Services & Card/ Merchant Acquirers
A large US-based cryptocurrency exchange seeking UK market entry through FCA cryptoasset registration. The client also aimed to secure authorisation for its UK-based card subsidiary as an FCA-regulated Electronic Money Institution (EMI).
While the client had mature regulatory operations aligned with US requirements, its frameworks and controls did not meet the specific standards expected by the UK Financial Conduct Authority (FCA). To successfully secure UK authorisations, the client required a comprehensive regulatory transformation across governance, financial crime, risk and operational domains.
Lysis provided end-to-end regulatory advisory and delivery support, including:
• Conducted a maturity assessment of the client’s US-centric regulatory framework against FCA expectations
• Led the preparation and submission of the full FCA cryptoasset registration and EMI authorisation applications
• Performed an Enterprise Wide Risk Assessment (EWRA) and a comprehensive Client Monies review across both entities
• Established robust UK/EU governance structures, including a European risk committee and supporting documentation
• Designed a skills and capacity model to scale the UK Risk and Compliance functions appropriately
• Provided an interim Deputy MLRO to support early operations
• Developed and embedded a full financial crime framework, including all related policies and procedures
• Deployed a large regulatory operations team to remediate legacy customer-level AML issues
• Delivered ongoing compliance advisory support to ensure sustainability post-registration
• Achieved UK FCA cryptoasset registration and progressed EMI authorisation for the client’s card subsidiary
• Established a compliant and scalable governance and risk framework for UK operations
• Enabled long-term UK market access and enhanced global regulatory credibility
• Strengthened operational readiness to support future regulatory change and business expansion
A Norway-based crypto broker registered with the Norwegian Financial Authorities. The client had rapidly scaled its operations to meet growing demand in the crypto sector but faced increasing regulatory scrutiny from both national and European regulators.
An international institutional digital assets firm offering stablecoin-based cross-border brokerage services engaged Lysis Advisory to support its UK FCA registration under the Money Laundering Regulations (MLRs). The firm operates a multi-jurisdictional, technology-driven brokerage model providing access to deep cryptoasset liquidity for corporate and professional clients. Lysis was selected due to its strong track record of successful FCA applications and its ability to deliver a tailored regulatory framework aligned with current FCA expectations and adaptable to the upcoming FSMA-style regime.
Our client had a new executive-level Money Laundering Reporting Officer (MLRO) and some new board members. Our client asked Lysis to run an AML Masterclass for UK AML Regulations.
