Crypto Exchange Crypto.com Signs Commitment with OSC of Canada

Crypto Exchange Crypto.com Signs Commitment with OSC of Canada

Crypto Exchange Crypto.com Signs Commitment with OSC of Canada

The crypto bear market has had different effects on exchanges across the space. While some have seen themselves diving underwater during this time, others continue to thrive on their established user base. One of them has been Crypto.com, a crypto exchange that has seen remarkable growth in 2021. Now, the exchange is taking its operations even further as it begins its planned expansion across the North America.

Crypto.com secures pre-registration in Canada

Throughout the bull market, Crypto.com had been one of the crypto platforms that made known its intentions to dominate globally. It did this even during the downtrend and is now poised to conduct its operations properly across North America.

On Monday, the cryptocurrency exchange announced that it had obtained a pre-registration undertaking from the Ontario Securities Commission (OSC) in Canada. This pre-registration is the first of its kind for any international cryptocurrency exchange that even the biggest crypto exchanges such as Binance and FTX have yet to secure. It is recognized by all OSCs and jurisdictions in Canada, as it is a joint initiative of the Canadian Securities Administration (CSA), the report explains.

While this does not completely give Crypto.com the green light to start offering crypto and digital asset services in the country, it is the very first step towards it. The pre-registration signing will see the CSO help the crypto exchange build “a suite of products and services in full compliance with Canadian regulations.”

Crypto.com (CRO) Price Chart from TradingView.comCRO price trending at $0.14 | Source: CROUSD on TradingView.com

This is another step in Crypto.com’s mission to provide crypto and digital asset products to users who fully comply with the law. Kris Marszalek, CEO of Crypto.com, explained that “compliance underlines everything we do at Crypto.com.” He added that “The North American market, and Canada in particular, represents a significant potential growth area for the crypto market, and we are proud to work with the OSC and CSA to provide Canadian customers with the access to a safe. , secure and reliable global platform.

The crypto exchange appears to be on a roll when it comes to gaining regulatory approval for its operations. In July, it was reported that the Singapore-based exchange had received regulatory approval from the Cyprus Securities and Exchange Commission (CySEC) during its expansion into Europe.

Next comes the approval of the approval of the electronic finance law and the registration license of the virtual asset service provider in Korea, one of the most difficult to obtain, at the beginning of August. On August 11, Crypto.com announced another approval, this time receiving registration and regulatory approval as a virtual asset service provider from the Cayman Islands Monetary Authority.

This streak shows a commitment to complying with regulatory laws, making Crypto.com a prime contender for investor confidence going forward.

Featured image from Global Happenings, chart from TradingView.com

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