Today, Crypto.com, the world’s fastest-growing crypto exchange based in Singapore, has become registered as a digital asset service provider in France with authorization from both the Autorité des marchés financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
The AMF is responsible for regulating the financial market in France and the investments it houses. It ensures that those who invest in these markets are adequately informed about what they’re buying and has been an integral part of promoting regulatory change locally and across Europe.
Early this year, France’s AMF also granted permission for Binance and Luno, cryptocurrency exchanges, to run in the country, and this milestone has now been achieved by Crypto.com as well.
However, the exchange’s announcement post claims that before receiving regulatory approval, it underwent an intense examination process that ensured compliance with international standards concerning anti-money laundering and prevention of terrorism financing.
In addition, by registering, Crypto.com will be able to offer clients in France a variety of goods and services that adhere to national laws.
Nevertheless, it is becoming more apparent that many French people are now aware of cryptocurrencies. According to Triple A’s surveys, up to 5% (or 3.4 million) of France’s population are crypto investors.
In addition, crypto awareness among business owners and CEOs is also at an all-time high, 85.1%, which is excellent news for future cryptocurrency use in France.
Crypto.com Continues Efforts To Broaden Its Ecosystem
CEO of Crypto.com, Kris Marszalek, said that the European market is key to this company’s long-term success, which is why they’re excited to be registered under the French regulatory authority and continue developing alongside the Regulatory AMF in France.
Kris Marszalek also asserts that they would strive to maintain customer trust while supplying them with excellent goods and services that are entirely safe.
The French registration is the most recent in a long line of regulatory permissions that Crypto.com has won in Europe because it has been amassing regulatory approvals worldwide throughout the year.
In recent months, it gained provisional approval for a Major Payment Institution License from the Monetary Authority of Singapore as well as for a Virtual Asset License from the Authority in Dubai.
It also gained electronic financial transaction act registration from the Korean authorities. It became an official virtual asset service provider when it was accepted by the Italian financial watchdog Organismo Agenti e Mediatori (OAM)in July.
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