Crypto.com, based in Singapore, has achieved another regulatory milestone by obtaining a license for digital payment token services.
Crypto.com, a cryptocurrency exchange based in Singapore, recently announced that it has received a significant license from the Monetary Authority of Singapore (MAS) to provide digital payment token (DPT) services.
This follows Crypto.com’s earlier approval from MAS in June 2022. With the new license, Crypto.com is now able to offer its DPT services to customers in Singapore.
The Monetary Authority of Singapore (MAS) is Singapore’s central bank and main financial regulatory authority. It is in charge of supervising and enforcing laws governing money, banking, insurance, securities, and the broader financial sector, including currency issuance.
Crypto.com’s recent announcement adds to their list of regulatory licenses. The exchange has also obtained registration as a digital asset service provider from the Autorité des Marchés Financiers in France and as a crypto asset business from the Financial Conduct Authority in the United Kingdom.
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In addition to its previous regulatory licenses, Crypto.com has achieved further approvals and registrations in various countries. They have obtained a preparatory license for their minimal viable product from the Dubai Virtual Assets Regulatory Authority and have acquired Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea.
The company has also secured registration approval as a digital currency exchange provider and independent remittance dealer in Australia from the Australian Transaction Reports and Analysis Centre. Furthermore, they have obtained an Australian financial services license and Australian credit license from the Australian Securities and Investments Commission.
Additionally, Crypto.com has achieved registration in Italy from the Organismo Agenti e Mediatori, in Greece from the Hellenic Capital Market Commission, and in Cyprus from the Securities and Exchange Commission.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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