Crypto.com continues regulatory winning streak with De Nederlandsche Bank approval | Silicon Canals
Image credits: Crypto.com
Crypto.com, the popular cryptocurrency trading platform, announced that it has been approved for registration with De Nederlandsche Bank (DNB) as a provider of crypto services.
The announcement comes after a comprehensive review of Crypto.com’s business and compliance in line with the Netherlands’ Money Laundering and Terrorist Financing (Prevention) Act (Wwft).
“Collaborating with regulators to responsibly advance the crypto and blockchain industry is of paramount importance to Crypto.com,” says Kris Marszalek, CEO of Crypto.com.
“This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance. We look forward to continuing to work with DNB and other regulators around the world,” adds Marszalek.
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This announcement marks another significant achievement in Crypto.com’s ongoing journey of securing regulatory licenses worldwide.
Crypto.com’s other approvals
Previously, the company received its Major Payment Institution (MPI) license for Digital Payment Token (DPT) and MPI for e-money issuance, account issuance, and cross-border, and domestic money transfer services from the Monetary Authority of Singapore.
Additionally, it obtained registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France and as a crypto-asset business from the UK Financial Conduct Authority (FCA).
Crypto.com’s efforts in regulatory compliance also extended to other regions, including approval of its MVP Preparatory License from the Dubai Virtual Assets Regulatory Authority (VARA).
The company received Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea, as well as registration approval as a Digital Currency Exchange Provider and Independent Remittance Dealer in Australia by AUSTRAC.
It obtained an Australian Financial Services License and Australian Credit License from the Australian Securities and Investments Commission (ASIC).
Further international recognition came through registration in Spain as a Virtual Asset Service Provider (VASP) from the Bank of Spain, registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, and registration in Cyprus from the Securities and Exchange Commission.
Additionally, Crypto.com obtained regulatory approval from the Cayman Islands Monetary Authority and was granted a US Commodity Futures Trading Commission (CFTC) regulated Derivatives Clearing Organization (DCO) and a Designated Contracts Market (DCM) status.
The company also proactively engaged with Canadian regulators, with a pre-registration undertaking with the Ontario Securities Commission and Canada Securities Administrators, among other commendable efforts in various jurisdictions.
Crypto.com: what you need to know
Crypto.com was founded in 2016 as a cryptocurrency platform that allows users to buy, sell and pay with crypto.
Today, the platform has over 100 million customers and has the world’s fastest-growing crypto app. It also offers Crypto.com Visa Card, which is the largest crypto card programme in the world.
Since its founding, Crypto.com has expanded to offer a crypto exchange and DeFi Wallet. It also offers Crypto.com NFT as a platform for collecting and trading NFTs, which includes a curation from the world of art, design, entertainment, and sports.
Headquartered in Singapore, Crypto.com employs over 2,600 people across the Americas, Europe, and Asia, and promises to offer a platform built on security, privacy, and compliance.
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