April 14, 2024

Crypto.com Obtains Regulatory License In France

Crypto.com, one of the fastest growing crypto firms in the world, has bagged another crypto license. According to reports, regulators in France have given Crypto.com a DASP (Digital Asset Service Provider) license after a tough review.

Crypto.com Expands Operations To France 

According to the company’s blog post, Crypto.com received the DASP license from the AMF (Autorité des marchés financiers). This was after it received clearance from the ACPR (Autorité de Contrôle Prudentiel et de Résolution).

Meanwhile, the crypto firm underwent a rigorous review in France before receiving regulatory approval. The review centered around terrorism financing and AML (anti-money laundering). 

The latest license will allow Crypto.com to offer various crypto products and services in France. However, these products and services must comply with the country’s regulations. 

Meanwhile, Kris Marszalek, Crypto.com CEO, commented on the company’s latest achievement. He stated that the European market has huge potential that would favor the success and growth of Crypto.com.

Marszalek added that the firm is happy to receive a regulatory permit in France. Therefore, the company looks forward to working with the ACPR and the AMF.

The CEO promised that the exchange firm would provide a secure, safe, and comprehensive crypto platform for France citizens. 

The addition of France now indicates that the corporation is likely to try out other nations in the region. Currently, the exchange firm has over 50 million users globally. 

Crypto.com Continues Global Expansion Despite Market Crisis 

Crypto.com has worked relentlessly to spread its operations throughout the world. In 2022 alone, the corporation has lawfully expanded into South Korea, Cyprus, Greece, Dubai, the United Kingdom, Singapore, and Italy.

Crypto.com is following in the footsteps of other major exchange firms such as Binance and FTX. Both firms have also bagged crypto licenses in various regions, with the latter recently winning a bid to buy Voyager’s assets.

Today’s news added to the company’s crypto license vault. Recently, the exchange received an in-principle approval from Singapore’s MAS.

Despite the ongoing crypto market winter that has seen various firms go bankrupt, the firm continues to expand its operations across various nations.

Crypto.com was created in 2016 and had millions of users across the globe. The company’s vision is to ensure that more users get across to crypto and good quality service.

Furthermore, the exchange is committed to increasing crypto adoption globally by empowering the next era of entrepreneurs, builders, and creators. This aims to provide a more equitable and fair digital ecosystem.

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