The Crypto.com platform today announced that it has been registered as a Digital Asset Service Provider (DAP) in France. This is a further important step in the company’s compliance process.
Crypto.com is now regulated in France
Today, cryptocurrency platform Crypto.com announced that it has obtained its registration as a Digital Asset Service Provider (DAP), the status necessary to operate in full compliance in France:
Hello France! https://t.co/vCNztABJoG is incredibly excited to announce that we’ve received regulatory approval in France.
Full details https://t.co/EB98kVZ3cD pic.twitter.com/NBKliMY6iJ
– Crypto.com (@cryptocom) September 28, 2022
After being blacklisted by the Autorité des Marchés Financiers (AMF) last year, this is a major turnaround for the company. Indeed, the latter approached the AMF and the Autorité de contrôle prudentiel et de résolution (ACPR) to regularise the situation.
It is now done, and Kris Marszalek, the CEO of Crypto.com, welcomed this agreement with the regulatory authorities:
“The market is now closed.
The European market is central to Crypto.com’s long-term growth and success and we are extremely proud to now receive registration in France from the AMF. We look forward to continuing to work with the AMF and ACPR as we introduce our products and services in France, offering users a comprehensive, safe and secure cryptocurrency platform. “
2022: a year under the sign of regulation
Although at the time of writing the AMF had not yet updated its list of PSANs, Crypto.com joins other famous foreign platforms such as Binance, Bitpanda or eToro.
The platform claims 50 million users and also announces that it is regulated, or in the process of being regulated, in the following regions:
- United Kingdom;
- Singapore;
- Dubai;
- South Korea;
- Italy;
- Cyprus;
- Greece.
Regarding the status of PSANs, however, it should be noted that no company is yet licensed. On the other hand, while crypto companies initially did not seem convinced by the need for registration, this trend is likely to be reversed as MiCA regulation approaches.
As more and more big players in the ecosystem comply with the French regime, it is gaining in importance. As such, it is important to see these large players take an interest, as their voices could play a significant role in the upcoming discussions on the legal frameworks of our ecosystem.
