<p>Crypto custody provider Copper announced on Monday that its Swiss unit has gained regulatory approval from the country's Financial Services Standard Association.</p> <p>The body, known as VQF, is a self-regulatory organization recognized by the Swiss regulator, the Financial Market Supervisory Authority (FINMA). The approval speaks to Copper's compliance with local anti-money laundering rules. </p> <p>“As Copper expands globally, VQF’s validation underscores our commitment to working with regulators around the world, to standards set in multiple jurisdictions, to become a worldwide leading provider of digital asset custody and infrastructure," Copper's chief legal officer, Carly Nuzbach Lowery, said in a <a href="https://copper.co/insights/copper-co-receives-swiss-regulatory-approval">statement</a>. </p> <p>The nod comes amid a what has been a <a href="https://www.theblockcrypto.com/post/137484/crypto-firms-uk-close-fca-register">protracted process</a> for the Financial Conduct Authority (FCA) to approve some of the UK's biggest cryptoasset providers to its own anti-money laundering register. Copper remains on the regulator's temporary cryptoasset register — a measure brought in so that firms could continue operating in the UK while the it decides their fate. </p> <p>That list is shrinking. As of Monday, it had dropped from five firms to four: Copper, neobanking giant Revolut, trading platform CEX.IO and custody provider ITI Digital, also known as Rubicon. </p> <p>Without full registration, firms will in theory be forced to stop all crypto-related activities in the UK. The Block <a href="https://www.theblockcrypto.com/post/133597/crypto-firms-face-cliff-edge-in-uk-as-time-ticks-down-for-aml-approval">earlier reported</a> that, as of February 10, 96 UK crypto firms had applications awaiting a decision from the regulator. </p>