Asset Reality Secures FCA Registration in the UK
Deal News | Jun 25, 2025 | Paul Hasting
Paul Hastings advised Asset Reality on its successful registration with the U.K. Financial Conduct Authority (FCA) as a cryptoasset business under the Money Laundering, Terrorist Financing and Transfer of Funds regulations. This registration allows Asset Reality, known as the first single asset recovery operating system, to support U.K. law enforcement as a custodian wallet provider, addressing operational and technical challenges faced by global seized-asset practitioners. In preparation for this milestone, Asset Reality implemented extensive anti-money laundering and counter-terrorist financing controls, demonstrating its commitment to the ecosystem's integrity. The FCA registration positions Asset Reality as a prominent player in the cryptoasset sector and facilitates sector growth. Paul Hastings, led by partner Arun Srivastava, navigated the complexities of the registration, showcasing Asset Reality's aptitude and readiness.
Sectors
- Financial Services
- Cryptocurrency and Blockchain
Geography
- United Kingdom – Asset Reality's registration with the UK Financial Conduct Authority highlights the geographic focus of this development in the United Kingdom.
Industry
- Financial Services – The article discusses the registration of a company as a cryptoasset business with the FCA, which falls under financial services regulations.
- Cryptocurrency and Blockchain – Asset Reality operates in the cryptoasset domain, providing services related to asset recovery, underlining its relevance to the cryptocurrency and blockchain industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Asset Reality | Target | Company | The first single asset recovery operating system, now registered with the FCA as a cryptoasset business. |
| Paul Hastings | Legal Advisor | Company | A law firm that advised Asset Reality on its successful FCA registration. |
| U.K. Financial Conduct Authority (FCA) | Regulator | Government | The government body responsible for registering cryptoasset businesses under AML and CTF regulations in the UK. |
| Arun Srivastava | Partner | Person | Partner at Paul Hastings who led the advisory efforts for Asset Reality's FCA registration. |
| Bhavesh Panchal | Associate | Person | Associate at Paul Hastings involved in the advisory process for Asset Reality's FCA registration. |