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Crypto.com Lands Digital Asset Service Provider (DASP) License in
Crypto.com has gained several other regulatory permissions over recent months.
Written by Shomik Sen Bhattacharjee, Edited by Richa Sharma | Updated: 28 September 2022 19:48 IST
Photo Credit: Facebook/ Crypto.com
Crypto.com has been trying to garner the approval of regulators across Europe
Highlights
Crypto.com will greatly expand services in following the move
The crypto platform recently landed regulatory approval from UK's FCA
As per MiCA, platforms need approval from any one national regulator
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Crypto.com has been granted approval by the regulators in to provide digital asset services in the country, the crypto exchange announced on Wednesday. The cryptocurrency platform reports that it went through rigorous review, particularly around the topics of anti-money laundering and combatting terrorism financing, before receiving regulatory approval. With the approval, Crypto.com said it would bring a suite of products and services in compliance with local regulations to customers in . Notably, the move comes a month after Binance went through the same process in , which continues to lead crypto regulation in Europe.
“The European market is central to the long-term growth and success of Crypto.com, and we are tremendously proud to now receive registration in from the AMF,” said Crypto.com CEO Kris Marszalek.
"We look forward to continuing to work with the AMF and the AR as we introduce our products and services in , offering s a comprehensive, safe and secure crypto platform."
IMF Says PoS Could Give Exchanges Excessive Decision-Making Powers
While Crypto.com has been accumulating regulatory approvals around the world over the course of the past year, the French registration is the latest in a string of those it has received in Europe.
Last month, Crypto.com officially ed with the UK's Financial Conduct Authority (FCA) as a crypto asset business. Marszalek had said that the UK represented a “strategically important market,” in light of the government's recent efforts to position itself as a global cryptocurrency hub.
Earlier, in July, the firm said that it had also received regulatory approval from the Italian financial regulator Organismo Agenti e Mediatori (OAM) to operate as a crypto provider.
Qualcomm, Spanish Telco Telefonica to Work Together on Metaverse, XR Projects
The Singapore-based crypto platform's strategy of collecting approvals throughout Europe is particularly interesting as according to the anticipated Markets in Crypto Assets (MiCA) regulation from the European Union, companies only need to become ed with one national authority in order to operate across the EU.
With the next Apple event due very soon, we dive into all the leaks and rumours surrounding iPhone 14 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
links may be automatically generated - see our ethics statement for details.
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