The Singapore-based digital assets platform Crypto.com received regulatory approval from France to offer a suite of products and services to its customers in accordance with the country's laws.
The platform said it has been registered as a Digital Asset Service Provider DASP by the Autorit de Contr le Prudentiel et de R solution ACPR in France, after securing more than six governmental approvals in 2022 in North America, Asia and Europe.
The company was able to get two regulatory licenses in Europe earlier this year, one in Italy and Cyprus.
The platform's co-founder and CEO Kris Marszalek stated at the time that the company was focused on growth in Europe.
In August, regulators in the U.K gave the platform the all-clear for certain activities related to cryptocurrencies. The digital asset platform has received significant regulatory approvals outside Europe in Dubai, Ontario, Canada, the Cayman Islands, Singapore and South Korea.
The European market is a key to the long-term growth and success of Crypto.com and we are very proud to receive registration from the AMF in France, said Marszalek.
He said we look forward to continuing to work with the ACPR and the AMF as we introduce our products and services in France, which will give users a secure, safe, and comprehensive platform.
Approval Even After The F 1 Sponsorship Issue
The French regulatory clearance followed Formula 1 F 1 sponsorship scandal that happened a couple of months back.
Several F 1 international racing teams removed the branding and emblems ofCrypto.com and other sponsors earlier in July.
The legislation surrounding cryptocurrencies was ambiguous.
During the bull market, the Singapore-based digital asset platform focused mostly on sponsorship deals and acquisitions, and during the bear phase the platform shifted its attention to the growth of services in new areas.
Kevin O Leary and Anthony Scaramucci were among the industry thought leaders at the Benzinga Conference on December 7 in New York City.