PANews reported on May 28 that Push Labs Ltd and Push Virtual Assets Ltd, UK subsidiaries of Aave Labs, have received approval from the UK Financial Conduct Authority (FCA) to register as local cryptocurrency trading service providers. Aave stated that these licenses allow Push to conduct regulated cryptocurrency and payment-related business in the UK and support the launch of products such as zero-fee stablecoin deposits and withdrawals. In addition to cryptocurrency registration, Push has also been approved to issue electronic money under electronic money regulations. The two companies have been assigned FCA registration numbers 1031720 and 1031721 respectively, and anti-money laundering regulations are subject to the Anti-Money Laundering and Funds Transfers Regulations 2017.