The United Kingdom’s Financial Conduct Authority ( FCA), is slowly approving each registration of crypto companies, with the latest being NYDIG subsidiary Bottlepay which is a Bitcoin-based payment company.
The company announced Tuesday that it was the first Lightning Network payments company approved by the British financial regulator to be a cryptocurrency business.
“Our FCA registration is a milestone not only for Bottlepay but also for the Lightning Network,” stated Pete Cheyne. This registration shows that we can create the financial infrastructure of tomorrow while maintaining the compliance and regulatory standards of today.
To overcome the limitations of the Bitcoin network, the lightning network was created. It allows for small, instant payments. The majority of crypto industry has yet to adopt this supplementary technology.