Singapore-based cryptocurrency platform Crypto.com has just received permission to operate in France, following approval in the U.K. and Italy.
Crypto.com has been registered as a Digital Asset Service Provider (DASP) in France by the Autorité des Marchés Financiers (AMF), according to an announcement on the company’s website.
This occurred after receiving clearance from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), a financial regulator operating under the aegis of the Banque de France.
Approval follow money laundering checks
According to the announcement, the regulatory approval had been granted only after a rigorous review, which focused heavily on anti-money laundering and the prevention of financing terrorism.
With the approval, Crypto.com said it would bring a suite of products and services in compliance with local regulations to customers in France.
“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,” said Crypto.com CEO Kris Marszalek.
“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.”
While Crypto.com has been accumulating regulatory approvals around the world over the course of the past year, the French registration is the latest in a string of those it has received in Europe.
Last month, Crypto.com officially registered with the United Kingdom’s Financial Conduct Authority (FCA) as a cryptoasset business. Marszalek had said that the U.K. represented a “strategically important market,” in light of the government’s recent efforts to position itself as a global cryptocurrency hub.
Earlier, in July, the firm said that it had also received regulatory approval from the Italian financial regulator Organismo Agenti e Mediatori (OAM) to operate as a crypto provider.
But while Crypto.com continues to collect these approvals, according to the anticipated Markets in Crypto Assets (MiCA) regulation from the European Union, companies only need to become registered with one national authority in order to operate across the EU.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.