Crypto.com Approved as VASP by Central Bank of Ireland

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As a seasoned crypto investor, I’ve seen my fair share of market volatility and regulatory uncertainty. But one thing that always gives me confidence in a crypto exchange is a solid regulatory framework. And that’s exactly what Crypto.com has been building for itself over the past few years.

With over 100 million users worldwide, Crypto.com has been given the green light by the Central Bank of Ireland to function as a Virtual Asset Service Provider (VASP). This authorization empowers Crypto.com to provide its clientele with crypto-to-fiat exchange services and fiat wallets.

After undergoing a meticulous examination of its anti-money laundering (AML) and countering the financing of terrorism (CFT) measures, Crypto.com received the green light from the Irish authorities, granting them the regulatory approval.

The Monetary Authority of Singapore has granted the company multiple crucial permits, such as a Major Payment Institution (MPI) license for handling Digital Payment Tokens (DPT) and e-money emission.

As a crypto investor, I can confidently say that Crypto.com’s registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France and its full operational approval for the Virtual Asset Service Provider Licence from the Dubai Virtual Assets Regulatory Authority (VARA) are significant milestones. These regulatory approvals add credibility to Crypto.com’s platform, ensuring a higher level of security and trust for users like me who choose to invest in digital assets through their service.

Crypto.com has obtained regulatory approvals in several countries, such as the United Kingdom, where it is recognized as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA). The company holds registrations in South Korea, Australia, Spain, Italy, Greece, Cyprus, the Cayman Islands, and Canada, expanding its reach on a global scale.

As a market analyst, I’d describe it this way: In the US, I, Crypto.com, operate under the regulatory oversight of the Commodity Futures Trading Commission (CFTC) for our designated contract markets and derivatives clearing organizations.

Crypto.com’s designation as a Virtual Asset Service Provider (VASP) in Ireland occurs at a time when cryptocurrency businesses are gearing up for the European Union’s (EU) upcoming Markets in Crypto Assets (MiCA) regulation. With a crypto asset service provider license issued by any EU country, firms will be able to conduct operations throughout all 27 member states of the EU.

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2024-06-12 03:48