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Crypto.com has acquired the approval of the Ontario Securities Commission to become the first global cryptocurrency platform to be legally registered for operations in Canada.
Crypto.com To Offer Services In Canada
Crypto.com’s global expansion continues. The latest country on the list is Canada, where the crypto exchange became registered to operate as its first global cryptocurrency platform. Crypto.com already has a presence in Canada and is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Autorité des marchés financiers (AMF) of Quebec. Most recently, the platform signed a Pre-Registration Undertaking with the Ontario Securities Commission (OSC) in Canada, under which the regulatory body and all Canadian jurisdictions will jointly recognize the platform’s right to provide a suite of products and services.
Speaking on the subject, Crypto.com CEO Kris Marszalek stated,
“Compliance underscores everything that we do at Crypto.com. The North American market, and Canada specifically, represent a significant area of potential growth for the crypto market, and we are proud to work with the OSC and the CSA in providing Canadian customers access to a safe, secure, and reliable global platform.”
Crypto.com’s Global Expansion
Crypto.com has been on a roll, acquiring regulatory licenses in different countries and jurisdictions around the world. Due to this, it is fast becoming the most rapidly growing crypto platform in the world. Not only has the platform spread its ecosystem in the global crypto hotspots, but it has also scaled up with a 50 million-strong global userbase. In August alone, the platform gained regulatory access to the Cayman Islands and South Korea. In the latter, Crypto.com acquired two locally registered companies, which subsequently provided it with the EFTA and VASP registration in the country. The Cayman Islands Monetary Authority (CIMA) regulatory body also approved the company’s VASP application, making it a registered provider of virtual asset services. The month before that, Crypto.com was granted an operational license by the Organizmo Agenti e Mediatori (OAM), a regulatory body that oversees anti-money laundering efforts in Italy. Soon after, it also secured regulatory approval from the Cyprus Securities and Exchange Commission (CySEC) to officially operate in Cyprus.
The company has also received licenses and approvals from regulatory bodies in other countries like the Monetary Authority of Singapore, the Dubai Virtual Assets Regulatory Authority, and the Hellenic Capital Market Commission (Greece).
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