Crypto.com announced that it had received regulatory approval in France. According to the company, it is now registered as a Digital Asset Service Provider (DASP) in the country. In its press release, Crypto.com explains that it was given the green light to operate in France after being registered and authorized by French authorities.
While the Financial Markets Authority (AMF) takes care of the registration, the cryptocurrency platform has obtained its authorization from the Prudential Control and Resolution Authority (ACPR).
Crypto.com receives regulatory approval in France
Additionally, Crypto.com said it had undergone extensive review before receiving approval. The company has been assessed for money laundering and terrorist financing. With the review phase completed, Crypto.com can now offer various products and services to its customers in France. In particular, all products and services must comply with national regulations.
Hello France! 🇬🇧https://t.co/vCNztABJoG is incredibly happy to announce that we have received regulatory approval in France. 🙌
All the details 👇https://t.co/EB98kVZ3cD pic.twitter.com/NBKliMY6iJ
— Crypto.com (@cryptocom) September 28, 2022
Crypto.com CEO Kris Marszalek said:
“The European market is critical to Crypto.com’s growth and long-term success and we are extremely proud to now be registered in France by the AMF. We look forward to continuing to work with the AMF and ACPR as we introduce our products and services in France, providing users with a comprehensive, safe and secure crypto platform.”
This is a remarkable development for Crypto.com expanding into France. The company is focused on active growth and the expansion of its ecosystem. With over 50 million users worldwide, the crypto platform is one of the fastest growing platforms in the industry. Additionally, the recent approval that Crypto.com received in France adds to its licensing momentum. The company got the green light from the Monetary Authority of Singapore in June. The approval was for its major payment institute license, allowing the platform to offer payment services to its Singaporean customers. Announcing the achievement, Marszalek said Crypto.com will continue to strengthen its roots in Singapore. He called the country “thriving market for fintech innovation, renowned for its well-regulated business environment.”
Crypto.com has also received approval for registration as a crypto-asset business from the UK Financial Conduct Authority (FCA). And that’s not all. The cryptocurrency platform has made headlines with its various approvals from authorities in other countries. In Dubai, it obtained provisional approval from the Virtual Assets Regulatory Authority for its virtual assets license. Additionally, South Africa has given Crypto.com permission to register as an Electronic Financial Transaction Act and Virtual Asset Service Provider. Other green lights were given by the Organismo Agenti e Mediatori (OAM) in Italy, the Hellenic Capital Market Commission in Greece and the Cyprus Securities and Exchange Commission. And that’s not all. The cryptocurrency company has received regulatory approval from the Cayman Islands Monetary Authority and a pre-registration undertaking from the Ontario Securities Administration in Canada.
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