Crypto.com Achieves Important Regulatory Win To Expand Services In Spain

Key Points:

• Crypto.com can now serve users in Spain after obtaining VASP registration from the Bank of Spain.
• The company has received regulatory licenses and approvals in various countries, including France, UK, South Korea, Australia, and North America.
• These efforts demonstrate Crypto.com’s commitment to expanding its services while remaining compliant with regulatory requirements.

Singapore-based cryptocurrency exchange Crypto.com announced that it had obtained the Bank of Spain’s Virtual Asset Service Provider (VASP) registration.

The registration came after a thorough examination of the exchange’s compliance with the Anti-Money Laundering Directive (AMLD) and other financial crime legislation, as well as its user protection measures. It will be able to provide a variety of goods and services to Spanish users as a result of this registration.

Kris Marszalek, CEO of Crypto.com, stated:

“Receiving the VASP registration from the Bank of Spain is the latest testament to our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology. We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe, and secure crypto experience that they desire.”

Crypto.com has announced further progress in obtaining regulatory licenses and approvals across multiple countries and regions. The company has received a Major Payment Institution (MPI) license for Digital Payment Token (DPT), as well as an MPI for e-money issuance, account issuance, and cross-border and domestic money transfer services from the Monetary Authority of Singapore.

In addition to these approvals, Crypto.com has also been registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France. The platform has also obtained registration approval as a crypto asset business from the UK Financial Conduct Authority (FCA).

The exchange’s efforts have not just been limited to Europe and Asia, but have also included North America. The company has been approved as a US Commodity Futures Trading Commission (CFTC) regulated Derivatives Clearing Organization (DCO) and Designated Contracts Market (DCM). It has also undertaken a pre-registration commitment with the Ontario Securities Commission and Canada Securities Administrators.

Other jurisdictions where the exchange has received regulatory approval include South Korea, where it has obtained Electronic Financial Transaction Act and Virtual Asset Service Provider registration, and Australia, where it has been registered as a Digital Currency Exchange Provider and Independent Remittance Dealer by AUSTRAC. The platform has also received registration in multiple other countries, including Italy, Greece, Cyprus, and the Cayman Islands.

Crypto.com’s recent progress in obtaining regulatory licenses and approvals demonstrates its commitment to expanding its services and offerings while remaining compliant with regulatory requirements in multiple jurisdictions. The platform’s ongoing efforts to obtain regulatory approval worldwide underscore its position as a serious player in the cryptocurrency space.

In addition to Crypto.com, crypto exchange Gemini recently also announced a growth strategy in the Asia-Pacific area, with Singapore serving as the core of operations, as well as the establishment of an engineering facility in India.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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