The French regulatory authorities have given Crypto.com permission to offer digital asset services there, the cryptocurrency exchange reported on Wednesday. Before getting regulatory clearance, the cryptocurrency platform claims to have undergone a rigorous evaluation, with a focus on anti-money laundering and countering the funding of terrorism. With the approval, Crypto.com claimed it would provide customers in France a range of goods and services that complied with regional laws. Notably, the action was taken a month after Binance through a similar procedure in France, which continues to set the bar for European cryptocurrency legislation.
According to CEO of Crypto.com Kris Marszalek, "The European market is crucial to the company's long-term growth and success, and we are really proud to have finally received registration in France from the AMF."
"We look forward to working with the AMF and the ACPR in the future as we launch our products and services in France and provide customers with a robust, secure, and safe crypto platform."
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The French registration is the most recent in a long line of regulatory permissions that Crypto.com has received in Europe over the course of the past year, though it has gotten regulatory licenses from all over the world.
Last month, Crypto.com formally registered as a crypto asset business with the UK's Financial Conduct Authority (FCA). In view of the government's recent initiatives to portray itself as a worldwide cryptocurrency hub, Marszalek had stated that the UK constituted a "strategically significant market."
The business had previously announced in July that it had also gained authorization from the Italian financial watchdog Organismo Agenti e Mediatori (OAM) to conduct business as a crypto provider.
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The strategy used by the Singapore-based cryptocurrency platform to obtain approvals across Europe is particularly intriguing because, under the anticipated Markets in Crypto Assets (MiCA) regulation from the European Union, businesses will only need to register with one national authority in order to operate within the EU.
