By
Bhushan Akolkar
April 16th, 2024
With the scrutiny phase over, Crypto.com can now offer various products and services to its customers in France.
Today, on 28th September 2022, fast-growing crypto platform 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 the press release, Crypto.com explained that it got the green light to operate in France after registration and clearance by the French authorities. While the Autorité des marchés financiers (AMF) handles the registration, the crypto platform got its clearance from the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
Crypto.com Receives Regulatory Approval in France
Additionally, Crypto.com mentioned how it was subject to a thorough review before receiving approval. The company was assessed for money laundering and terrorist funding. With the scrutiny phase over, Crypto.com can now offer various products and services to its customers in France. Notably, all products and services must comply with local regulations.
Crypto.com’s CEO, Kris Marszalek, said:
“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 France from the AMF. We look forward to continuing to work with the AMF and the 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 spreads its wings to France. The company focuses on active growth and the expansion of its ecosystem. With over 50 million users globally, the crypto platform is one of the fastest-growing platforms in the industry. Furthermore, the recent approval Crypto.com received in France adds to its license momentum. The company got a go-ahead 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. While announcing the achievement, Marszalek stated that Crypto.com would continue to deepen its roots in Singapore. He referred to the country as “a flourishing market for fintech innovation, renowned for its well-regulated business environment.”
Crypto.com’s Approvals
Crypto.com has also received registration approval as a crypto asset business from the UK Financial Conduct Authority (FCA). It goes on and on. The crypto platform has been making headlines with its different approvals from authorities of other countries. In Dubai, it got provisional approval for its Virtual Asset License from the Virtual Asset Regulatory Authority. In addition, South Africa gave Crypto.com permission for Electronic Financial Transaction Act and Virtual Asset Service Provider registration. More green lights came from Organismo Agenti e Mediatori (OAM) in Italy, Hellenic Capital Market Commission in Greece, and the Cyprus Securities and Exchange Commission. That’s not all. The crypto company inked regulatory approval from the Cayman Islands Monetary Authority and a pre-registration undertaking from the Ontario Securities Administration in Canada.