Crypto.com has announced that it has 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 has been given the green light to operate in France after being registered and authorized by the French authorities.
While the Autorité des marchés financiers (AMF) is handling the registration, the crypto-currency platform got its authorization from the Autorité de contrôle prudentiel et de résolution (ACPR).
Crypto.com receives regulatory approval in France
In addition, Crypto.com said it underwent a thorough review before receiving approval. The company was assessed for money laundering and terrorist financing. With the review phase complete, Crypto.com can now offer various products and services to its customers in France. Notably, all products and services must comply with national regulations.
Hello France! 🇫🇷https://t.co/vCNztABJoG is incredibly excited to announce that we’ve received regulatory approval in France. 🙌
Full 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 long-term growth and 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, offering users a comprehensive, safe and secure crypto platform.”
This is a remarkable development for Crypto.com as it moves into France. The company is focused on active growth and expansion of its ecosystem. With over 50 million users worldwide, the crypto platform is one of the fastest growing platforms in the industry. In addition, the recent approval 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. In announcing the achievement, Marszalek said Crypto.com would continue to strengthen its roots in Singapore. He called the country “thriving market for fintech innovation, known for its well-regulated business environment.“
Crypto.com has also received approval to register as a cryptoasset company from the UK Financial Conduct Authority (FCA). And that’s not all. The crypto-currency platform has been making headlines with its various approvals from authorities in other countries. In Dubai, it got provisional approval from the Virtual Assets Regulatory Authority for its virtual assets license. In addition, South Africa has given Crypto.com approval 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 crypto-currency company has received regulatory approval from the Cayman Islands Monetary Authority and a pre-registration undertaking from the Ontario Securities Administration in Canada.