Copper withdraws UK registration application, shifting strategic focus to overseas markets

cryptocurrency custody company Copper Technologies withdrew its application to register with the UK financial regulator on Friday, stating that it will shift its focus to overseas centers under the leadership of its new CEO.

Copper, chaired by former UK Chancellor of the Exchequer Philip Hammond and headquartered in London, is one of the largest cryptocurrency firms in the UK. The company's former CEO, Dmitry Tokarev, founded the company in 2018 and resigned in October this year. The new CEO, Amar Kuchinad, stated, "Since joining the company, refining the global growth strategy has been my top priority, which requires us to make key decisions in direction and approach." (Jin Shi)