Crypto.com can secure approval in France
Singapore-based crypto exchange Crypto.com has successfully secured a license for France. The crypto trading platform is now registered as a digital asset service provider (DASP) with the French stock exchange regulator Autorité des marchés financiers (AMF), having previously received clearance from the financial market regulator Contrôle Prudentiel et de Résolution (ACPR).
Thanks to the new operating license, the large trading platform will be able to offer its products and services in France in the future, provided that they are compatible with the applicable regulations. Obtaining the permit is said to be another important step for Crypto.com to expand in Europe.
The platform, which is mainly designed for its own smartphone app, has already secured several licenses in North America, Asia and Europe as part of its expansion efforts in 2022.
At the beginning of July, Crypto.com was able to obtain two more approvals for Europe, one in Cyprus and the other in Italy. Kris Marszalek, the founder and managing director of the crypto exchange, emphasized at the time that the company wanted to expand more, especially in Europe.
In August, the green light for “certain crypto activities” was also obtained in Great Britain. In addition to several countries on the old continent, the company was able to snag similar permits in Dubai, Canada, Singapore, South Korea and the Cayman Islands.
The regulatory approval in France is all the more a win after Crypto.com was recently involved in the advertising fiasco in Formula 1. Several teams had deliberately covered the logos of crypto industry sponsors, including the crypto exchange, to avoid violating French law.