Crypto.com Secures Regulatory Approval In France

Singapore-based cryptocurrency exchange Crypto.com announced its latest milestone in France. 

According to the cryptocurrency trading platform, it is now registered as a Digital Assets Service Provider (DASP) in France. The approval was received from Autorité des marchés financiers (AMF) after it was cleared by the financial watchdog Autorité de Contrôle Prudentiel et de Résolution (ACPR).

With the approval, Crypto.com now ranks amongst other crypto firms like Binance and Luno which received similar authorization. Compulsorily, the registration is meant for any crypto firm that wishes to offer digital assets trading or custody service in France. Even companies that intend to buy and sell digital assets in legal tenders are expected to register. 

Furthermore, this approval is inching the exchange closer to its ultimate expansion in Europe. Seeing that Crypto.com now holds regulatory approval from France, the exchange can now offer a wide range of products and services to the French. Crypto.com will ensure that it delivers these services in compliance with local regulations in this jurisdiction. 

Crypto.com Expands In Europe

Two months ago, the Singaporean exchange bagged regulatory approvals in the European territory. Precisely, Crypto.com received registration and regulatory approval from Organismo Agenti e Mediatori (OAM) which grants it the power to offer a wide range of product suites to its Italian customers. 

A few days later, the Cyprus Securities and Exchange Commission CySEC extended a regulatory license to the crypto exchange.

The license expanded Crypto.com’s offering in the European Union.  Before the approvals, the co-founder and Chief Executive Officer of the firm Kris Marszalek that Crypto.com is seeking expansion in Europe. He made a comment about the newly acquired approval.

“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 AM. 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.”

Similarly, Crypto.com received in-principle approval from the Singapore watchdog, the Monetary Authority of Singapore (MAS). It has received authorization from the United Kingdon Financial Conduct Authority (FCA), provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority VARA) and so many others.