Market News

Canada Welcomes Crypto.com with Landmark Regulatory Approval

Crypto.com has achieved a significant milestone by obtaining restricted dealer registration across all provinces and territories in Canada.

This approval allows the platform to offer crypto asset products and services while it pursues full investment dealer registration with the Canadian Investment Regulatory Organization (CIRO).

Having been the first crypto trading platform to enter a Pre-registration Undertaking with the Canadian Securities Administrators in August 2022, Crypto.com has demonstrated its commitment to compliance.

Eric Anziani, COO at Crypto.com, emphasized the importance of compliance infrastructure, stating that it provides customers peace of mind.

Additionally, the Crypto.com Custody Trust Company will act as the primary custodian for Canadian users' digital assets, ensuring secure custody services.

This registration enhances the company’s global compliance framework, which includes various licenses in regions such as the EU and Singapore.

The success in Canada coincides with ongoing regulatory developments in the U.S., where potential legislative changes are gaining traction.

Experts believe that new U.S. regulations could influence the broader integration of cryptocurrencies into the traditional financial landscape.

As both countries navigate their respective regulatory environments, the interest in crypto investments continues to rise.

Overall, Crypto.com’s entry into Canada signals a promising shift in the crypto market amidst evolving regulations in North America.