Crypto.com gets regulatory approval to operate in Italy

Crypto.com, one of the world’s largest cryptocurrency exchanges, has received regulatory approval to provide its services in Italy.

This marks a major expansion for Crypto.com, which is now available in over 50 countries. The company plans to continue expanding its presence in Europe, with plans to launch in Switzerland later this year.

The Organismo Agenti e Mediatori (OAM) has given its approval to the Crypto.com platform. According to a statement released by the platform on Tuesday. In September 2020, Crypto.com first applied for the license.

Crypto.com’s Chief Executive Kris Marszalek says in the statement that. The company is excited to bring its “simple and powerful crypto experience” to Italy.

The news comes as Crypto.com is gearing up for a major expansion in Europe. The company is currently available in over 50 countries and plans to launch in Switzerland later this year.

Crypto.com has been on a mission to expand its presence in Europe. And it looks like the company is making good on its promise. After securing a license from the OAM, Crypto.com is now available in Italy.

The Crypto.com app allows users to buy, sell, and store cryptocurrencies. The app also offers a number of other features such as a Crypto Credit service that lets users borrow against their crypto holdings.

Regulatory consent: a major step forward

The licensing clears the way for Crypto.com, a fast-growing firm that has expanded its cryptocurrency offerings and digital wallet services. In recent months, to offer its suite of crypto products and services in the country.

This achievement implies that the exchange’s actions are now consistent with local laws.

“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com,” said Kris Marszalek, the exchange’s co-founder and CEO.

Marszalek, commenting on his company’s move to get registered, adds:

“We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.”

Following the approval of Greek authorities, Crypto.com, which was founded in 2016 and now has over 50 million users worldwide, has activated its Italian registration. The company is now operational in more than 180 countries and territories.

Crypto.com also operates the MCO Visa card, which allows customers to spend their crypto balances anywhere that accepts Visa. As well as earn up to 5% back on all spending in crypto. The card is currently available in 31 countries and Crypto.com plans to expand this number

The platform also gets approval for a provisional Virtual Asset License from Dubai’s Virtual (VARA). And additional approval in principle from the Monetary Authority of Singapore.

Crypto.com is on a mission to accelerate the world’s transition to cryptocurrency. The Crypto.com team has built one of the world’s most popular crypto wallets with over 5 million downloads. A spot in Apple’s App Store Top 10, and a 4.8 rating.

The Crypto.com Wallet & Card App allows users to buy, sell, and pay with crypto, as well as track the latest crypto prices. The Crypto.com Wallet App has been built with an intense focus on security and ease-of-use.

The regulatory greenlight has been granted to Crypto.com, which will allow it to join other notable cryptocurrency enterprises. Like Binance and Coinbase in receiving registration Crypto.com is also registered and licensed in Malta, Estonia, Lichtenstein, and the United Kingdom.

This move comes as Italy’s financial watchdog begins to take a more active role in regulating the cryptocurrency space. Recently, the Italian Securities and Exchange Commission (CONSOB) published a report that warned investors about the risks associated with investing in digital assets.

What do you think about this crypto.com approval? Please hit the comment section and share your thoughts with us!