Crypto.com Is Now Regulated By CySEC

According to Crypto.com's CEO, the platform is now regulated by CySEC. Crypto.com is following in FTX's footsteps by continuing to expand across Europe. This time by receiving the agreement from Cyprus to be properly regulated in their country through their organization CySEC.

Conquering Europe

The Crypto.com exchange platform allows its users to buy, but also sell with more than 250 cryptocurrencies. It also offers services such as Visa cards that can be used with crypto-currencies or even allows the use of Google Pay.

Crypto.com: the platform is now regulated by CySEC

Thus, Crypto.com continues its intention to conquer Europe with its platform as many other exchanges are already doing. The goal is to acquire the agreement of each institution regulating crypto bodies in their respective country.

This time it is therefore on the Cyprus side with their institution Cyprus Securities and Exchange Commission (CySEC) that Crypto.com has just obtained the agreement to operate on their soil as a crypto-exchange platform. Thus, they can offer their customers various products and services while complying with local regulations.

The company, originally from Singapore, continues its efforts to obtain agreements to operate in many European countries. Before Cyprus, a few months ago, it was in Italy or Greece that they obtained the approval of regulators.

According to the CEO of Crypto.com, Kris Marszalek, the platform continues to prioritize its expansion in the European zone. Proof of their desire to want to establish themselves fully and over the long term in this region while trying to respect the regulations of each country as well as possible.

Europe attracts crypto exchanges

Crypto.com is not the only platform that has received approval from Cyprus. This is also the case of their main rival FTX, which also wants to continue its expansion across Europe since it received the agreement from Cyprus in March 2022.

Despite the bear market, many platforms have decided to continue to conquer Europe. They see it as a huge market with many possibilities as there are customers with different profiles.

Even though Cyprus has just given its permission to Crypto.com and many other platforms want the approval of this country to operate on their soil. The government of Cyprus has not given much information about cryptocurrency regulation in recent years.

It turns out that several local financial institutions, including the Bank of Cyprus, are said to have blocked Bitcoin transactions in 2021. 

In September of the same year, CySEC unveiled its intention to strengthen surveillance of cryptocurrencies by integrating anti-money laundering of the European Union in its right.

Many platforms continue to expand across Europe. Recently, Coinbase received approval from Italian regulators to operate on their soil and they too want to completely conquer the old continent.