Singapore-based crypto exchange Crypto.com continues to enter the European market. It recently obtained a crypto license in France after receiving similar permissions in the UK and Italy. Due to the new MiCA regulations, the exchange may be active on the European market.
According to the Crypto.com website, French financial regulator Autorité des Marchés Financiers (AMF) has registered the crypto exchange as a Digital Asset Service Provider (DASP) in France.
Previously, a financial regulator subordinate to the Banque de France had authorized the company to operate.
According to the announcement, crypto.com only received the license after a thorough review. The main purpose of this check is to prevent money laundering and the financing of terrorism
With the approval, Crypto.com says it will soon be able to offer its customers in France a range of products and services that comply with applicable laws in the country. This brings the exchange one step closer to its goal of securing European market shares. Crypto.com CEO Kris Marszalek explained:
“The European market is central to Crypto.com’s long-term growth and success. In addition, we are very proud that we now receive approval from the AMF in France.”
“We look forward to continuing to work with the AMF and the ACPR. This allows us to launch our products and services in France and provide users with a comprehensive, secure crypto platform.”
Aside from the French license, Crypto.com has also obtained a few other license approvals around the world and Europe.
Last month, the UK Financial Conduct Authority (FCA) registered crypto.com as a licensed crypto asset company. According to Marszalek, the UK represents a “strategically important market”.
In addition, the exchange announced in July that it had received approval from Italian financial regulator Organismo Agenti e Mediatori (OAM) to operate as a crypto service provider.
However, crypto.com’s efforts to obtain licensing approvals from European countries may become obsolete in the near future. The European Union’s new MiCa agreement may mean that one license in one EU country is sufficient to operate as a crypto exchange throughout the EU.
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