One of the largest digital asset trading platforms, Crypto.com recently confirmed that the Ontario Securities Commission (OSC) has granted the company a pre-registration undertaking for operations in the Canadian region. With that, Crypto.com has become the first international cryptocurrency platform to sign an undertaking with Canada’s OSC.
The latest announcement from Crypto.com came just a few days after the company secured regulatory approval in the Cayman Islands. In the past few months, Crypto.com has accelerated its efforts to provide cryptocurrency services in a regulated environment. To achieve that, the company obtained the virtual asset service provider registration in South Korea during the second week of August 2022.
With the recent signing of a pre-registration undertaking with the OSC, Crypto.com aims to boost its presence in the growing cryptocurrency market of North America.
“Compliance underscores everything that we do at Crypto.com,” said Kris Marszalek, the CEO of 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.”
Regulations
Crypto regulations have now become more important than ever before. Several leading digital asset firms, including Binance and FTX increased their regulatory efforts in the past few months and obtained approval from authorities around the world. In July 2022, Binance obtained VASP registration in Spain. In March this year, FTX Europe enhanced its international reach and received a license to operate VA Exchange in Dubai.
“Crypto.com continues to actively grow and expand its ecosystem, with more than 50 million users worldwide. Today’s announcement continues Crypto.com’s regulatory license momentum, having recently received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore,” the company added.
Earlier this year, FIFA inked a sponsorship deal with Crypto.com for World Cup 2022.
