CryptoCom Wins Approval To Operate In France
- CryptoCom has recently received the green light from the top French financial regulators to operate as a Digital Asset Service Provider (DASP) in the country.
- The Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) have recently approved the exchange after a thorough checking.
- The regulatory clearance will enable the digital asset platform to provide users in France with a range of products and services that are in line with local laws.
Singapore-based crypto exchange platform CryptoCom has recently received the green light from the top French financial regulators to operate as a Digital Asset Service Provider (DASP) in the country.
The Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) have recently approved the exchange after the thorough checking on its anti-money laundering (AML) and counter terrorist financing procedures.
In a Wednesday’s emailed statement, Crypto.com’s Chief Executive Officer Kris Marszalek commented on the possibilities in the European crypto market by stating:
“The European market is critical to Crypto.com’s long-term growth and success and we are extremely proud to have received AMF approval in France.”
The regulatory clearance will enable the digital asset platform to provide users in France with a range of products and services that are in line with local laws. The platform intends to rely on the most recent approval to increase its service offerings across Europe.
Earlier this year, French officials gave exchanges Luno and Binance, both owned by the Digital Currency Group, permission to operate in the nation.
In 2022, the mobile-first digital asset exchange platform was able to win regulatory permission from more than six different countries, including those in North America, Asia, and Europe. Earlier in July, Crypto.com was successful in receiving two regulatory licences in Europe, one each in Italy and Cyprus.
In July, Marszalek stated that the company’s primary objective was to grow in Europe. Recently, the Hellenic Capital Market Commission registered it in Greece as well. Apart from Europe, the company was added to the Financial Conduct Authority of the UK’s cryptocurrency asset register in August. The United Kingdom regulators gave the digital asset platform the all-clear in August for “certain crypto activities.”
CryptoCom, which claims to have over 50 million users across the world, has also scored its virtual asset licence from the Dubai Virtual Assets Regulatory Authority and in-principle permission for a Major Payment Institution License from the Monetary Authority of Singapore.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
