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Singapore-based cryptocurrency exchange Crypto.com announced June 1 that it has been granted a Major Payments Institution (MPI) license for its Digital Payment Token (DPT) service by the Monetary Authority of Singapore (MAS).
of announcement This will take place after Crypto.com receives approval in principle from the MAS in June 2022. With the MPI license, Crypto.com is now authorized to offer her DPT services to customers in Singapore.
The Monetary Authority of Singapore serves as Singapore’s central bank and major financial regulator. It is responsible for overseeing and enforcing laws related to the entire financial industry, including currency, banking, insurance, securities and currency issuance.
This latest announcement further strengthens Crypto.com’s track record in securing regulatory licenses. Crypto.com has also achieved registration as a Digital Asset Service Provider (DASP) with the French Financial Market Authority (AMF) and as a cryptocurrency operator with the UK Financial Conduct Authority (FCA).
Additionally, Crypto.com has obtained MVP Preparatory License approval from the Dubai Virtual Assets Regulatory Authority (VARA) and has obtained the Electronic Financial Transactions Act and Virtual Assets Service Provider registration in South Korea. The company has also secured registration approval as an Australian Digital Currency Exchange Provider and Independent Remittance Dealer by AUSTRAC, and has also obtained an Australian Financial Services License and an Australian Credit License from ASIC. Crypto.com’s regulatory track record extends to registration with the Organismo Agenti e Mediatori (OAM) in Italy, registration with the Capital Markets Commission of Greece in Greece, and registration with the Securities and Exchange Commission in Cyprus. .
Related: Crypto.com Adds Paid Support for MATIC, USDC, and DAI
Additionally, the cryptocurrency exchange has recently expanded its user base in the US, allowing users to: use Over 30 cryptocurrencies are accepted for purchases from over 150 well-known consumer brands through the app. This feature was released on his May 31st.
Magazine: Crypto Regulation: Does SEC Chairman Gary Gensler Have the Final Decision?
