Crypto.com is on a mission to spread its wings across the world, first in Europe, and now it has acquired permission from the Securities and Exchange Commission of Canada.
Also, Crypto.com became the first-ever crypto exchange platform to get approval from the Canadian government and registered itself legally to operate throughout the country.
The crypto exchange platform was already operating in Canada but was regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and Quebec’s AMF (Autorite des marches financiers).
But, recently, Crypto.com has signed an undertaking for pre-registration with the OSC Canada, which will enable the Canadian jurisdiction and the regulatory body of the country to recognise the operations conducted on Crypto.com.
What did the CEO of Crypto.com have to say about its global expansion plans?
Kris Marszalek, the Chief Operating Officer of Crypto.com, stated that everything at the company is underscored by compliancy. The Canadian market and the North American market are areas with significant potential for the crypto industry’s growth. Marszalek added that Crypto.com is extremely proud of having the approval from CSA and OSC, as their Canadian customers will have access to a reliable, secure, and safe crypto transaction platform, now operating worldwide.
Global USD Bank Transfers expand to new 37 countries 🌏including Argentina, Mexico, U.A.E, Thailand, Philippines and India
💵Transfer USD from your bank account
📲Receive the funds in USDC (1:1) on the App and Exchange
Available in total of 60+ countries pic.twitter.com/LU4uhRmLTF
— Crypto.com (@cryptocom) August 24, 2021
The firm has received approvals and licenses from the regulatory bodies of several other nations, including the Regulatory Authority of Virtual Assets of Dubai, Singapore’s Monetary Authority, and Greece’s Hellenic Capital Market Commission, and has regulatory access in South Korea and the Cayman Islands.
Crypto.com also acquired two registered companies in South Korea, offering the crypto exchange platform with VASP and EFTA registrations nationwide.