The exchange platform Crypto.com has been registered as a digital asset service provider (PSAN) in France by the Autorité des marchés financiers (AMF).
The 2019 Pact law has given a more restrictive framework to cryptos. In order to take full advantage of the French market, one must comply with the requirements of the AMF and the ACPR (Autorité de Contrôle Prudentiel et de Résolution). After many months of exchanges and compliance with French laws, Crypto.com has just obtained the precious sesame: the PSAN license.
It should be noted that the platform is already registered in Italy and the UK. Kris Marszalek, the head of Crypto.com said:
We look forward to continuing to work with the AMF and ACPR as we introduce our products and services in France, offering users a comprehensive, safe and secure crypto platform.
Crypto.com is growing rapidly and continues to expand its ecosystem around the world. The platform currently has over 50 million users. This year, Crypto.com has secured licenses in several countries, including in Europe with Italy and the UK. The Singapore-based platform is also now regulated in Dubai and South Korea.
Crypto.com has been on the market for six years and since then, the platform has excelled in one area: evolution. After investing heavily in marketing in 2021, the exchange ran into difficulties following the fall of the Bitcoin price and was forced to make layoffs.