Crypto.com has recently been approved or registered in Singapore, United Arab Emirates (Dubai), Italy, South Korea and Canada among other jurisdictions,
Cryptocurrency exchange Crypto.com has received yet another regulatory approval as it continues its global expansion.
On Wednesday, the exchange announced that it was approved as a crypto asset business by the Financial Conduct Authority (FCA) of the United Kingdom. Regulator Greenlight adds to the list of major milestones for Crypto.com in relation to its push to provide its services to consumers worldwide in compliance with local regulations.
The UK approval for Crypto.com is particularly endearing, as the country has one of the largest crypto communities, and officials see the regulation as critical to consumer protection as well as fostering an environment that fosters innovation. can encourage.
,This is an important milestone for Crypto.com, with the UK representing a strategically important market for us and at a time when the government is moving forward with its agenda of making the UK a global hub for crypto asset technology and investment. Increasing.“Crypto.com CEO Chris Marszelek said in a statement.
Marszalek said the exchange plans to use the license to expand its products and services in the country, even if they work with market watchers.
Crypto.com’s Key Regulatory Score
With the FCA license, Crypto.com adds a major regulatory approval to many of the ones it has already acquired around the world. These include approvals in fast growing crypto destinations such as Singapore, Dubai and Cyprus.
Additionally, the exchange recently completed two major acquisitions in South Korea to obtain the Electronic Financial Transactions Act and the Virtual Asset Service Provider license.
The platform also has registrations in Italy, Greece, the Cayman Islands and Canada (via a pre-registration agreement with the Ontario Securities Commission (OSC)).
Crypto.com’s FCA approval comes months after the company hinted at an aggressive expansion plan with several senior employees. Among the new recruits were a General Manager (UK) and a Global Head of Sustainability and ESG.