First asset recovery operating system registers with FCA
The seized asset company registered as a Virtual Assets Service Provider (VASP) with the UK Financial Conduct Authority earlier this year under the Money Laundering, Terrorist Financing and Transfer of Funds regulations.
It makes the Asset Reality platform the first to offer crypto custody services - and enables the brand to provide its critical virtual asset services to law enforcement and government agencies in the UK as a custodian wallet provider.
They hope this will solve the operational and technical challenges that have long hindered global seized asset practitioners.
“We are delighted that Asset Reality have obtained registration with the FCA as a cryptoasset firm,” said Arun Srivastava, Partner at Paul Hasting (Europe) LLP.
“Asset Reality will be a key player in the crypto asset ecosystem and will facilitate its growth.”
Asset Reality, is the world’s first seized asset platform provides an end-to-end solution to support the seizure, management, and disposal of both physical and virtual assets.
These can range from boats to bitcoin, Monets to meme coins, and private jets to privacy coins.
Until now, asset recovery practitioners have been forced to create their own end-to-end solution for asset recovery by combining spreadsheets, hardware wallets, exchanges, and consultants.
This has led to inefficiency and risk in the asset recovery process.
But Asset Reality offers a unified Platform, built for government and enforcement agencies with 100 per cent asset coverage, by combining seizure support, asset inventory and management, virtual asset custody, valuation, liquidation and compliance workflows into a single secure asset recovery operating system.
This solution makes it easier to seize all asset types in a timely manner.
“A significant milestone, not just for Asset Reality, but for the wider seized asset ecosystem”
“Practitioners have always struggled with disjointed tools, managing spreadsheets, selecting wallets and exchanges, sourcing technical specialists and valuers, and navigating complex court processes without dedicated support,” said Aidan Larkin, co-founder and CEO of Asset Reality.
“We’ve brought all that together in one purpose-built Platform for the first time, making seized asset management smarter, safer, and more accountable.
“We’ve never had a regulatory penalty or compliance breach, something few, if any, in our sector can say.
“Our clients trust us not just because we understand their mission, but because we operate with the same discipline and accountability that they do.”
This significant industry milestone underscores Asset Reality's commitment to upholding the highest standards of anti-money laundering (AML) and counter-terrorist financing (CTF) compliance in the UK.
It comes as Asset Reality implements robust AML and CTF controls, including risk management, client due diligence procedures, transaction monitoring systems, and staff training programmes which align with the FCA's expectations for cryptoasset businesses.
“FCA registration is a significant milestone, not just for Asset Reality, but for the wider seized asset ecosystem,” said Lynette Mapp, General Counsel for Asset Reality.
“It helps demonstrate how regulated infrastructure can support law enforcement, courts and public sector bodies dealing with complex virtual asset cases - while upholding the highest standards of compliance and transparency.”
As the UK continues evolving its digital asset regulatory framework, Asset Reality remains at the forefront of compliance and innovation, leading the way in delivering secure, compliant, and scalable infrastructure to those responsible for handling seized and recovered assets.
About Asset Reality Limited
Asset Reality is the seized asset company building modern solutions for more effective asset recovery. As the first company in the world to offer a complete solution for both physical and virtual assets, we make it easier to seize assets.
Asset Reality’s software replaces outdated and ineffective legacy infrastructures with a solution built to optimise the seizure, management and disposal of physical and virtual assets.
For more information about Asset Reality, visit www.assetreality.com