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Cryptocom can secure registration in Cyprus

 


The crypto exchange. Crypto.com continues to expand rapidly and is now the next trading platform to receive an official license in Cyprus.


Crypto.com received approval from the Cyprus Securities and Exchange Commission (CySEC) yesterday, Friday, the company confirmed to Cointelegraph on Friday.


With the approval, Crypto.com will be able to offer a range of financial products and services in the future, as long as they comply with local regulatory requirements. Obtaining the license marks the next milestone in the global expansion of the crypto company, which recently secured similar approvals in Italy, Greece and Singapore.


As founder and CEO Kris Marszalek explains, his company is currently specifically targeting Europe as an area for expansion. He also sees this as "proof of our efforts in terms of compliance and cooperation with the regulatory authorities".


Crypto.com is not the only crypto exchange that has successfully received a license in Cyprus in the last few months. Among other things, the major competitor FTX was granted such a permit as part of its expansion into Europe in March 2022. Coinbase is also increasingly looking to expand its sphere of activity to Europe.


So, although more and more crypto companies are settling in the island nation, it should be noted that the government of Cyprus has actually not created a particularly clear legal framework for cryptocurrencies so far.

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