CryptoCom Receives Pre-approval to Offer Crypto Services in Canada
Leading cryptocurrency exchange CryptoCom announced today it has signed pre-registration undertakings with the Ontario Securities Commission (OSC) in Canada. The pre-registration signed with OSC is acknowledged by all Canadian jurisdictions through a joint Canadian Securities Administration (CSA) initiative.
CryptoCom Secures Pre-Registration in Canada
According to the announcement, the agreement makes CryptoCom the first major crypto exchange to operate “in line with this regulatory undertaking in Canada.”
While the pre-registration undertaking is still under review, CryptoCom said it is committed to working with OSC to offer a full suite of services in compliance with Canadian regulations.
“Compliance underscores everything that we do at 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,” Kris Marszalek, CEO of CryptoCom, said.
The latest development adds to CryptoCom’s existing regulation in the country overseen by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Autorité des marchés financiers (AMF) of Quebec.
CryptoCom Continues Expanding
Meanwhile, CryptoCom has continued to aggressively expand into new markets in recent times. In June, the crypto exchange secured provisional approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer its services to investors in the Emirate.
In July, CryptoCom received registration and regulatory approval from the Italian regulator, Organismo Agenti e Mediatori (OAM), to offer services in the country. That same month, CryptoCom received approval in Cyprus, Singapore, and Greece. Just recently, the exchange expanded into South Korea through new acquisitions.
In a recent interview, CryptoCom CEO Marszalek discussed the company’s aggressive expansion in recent times, saying that the expansion is part of the company’s broader strategy. He noted that CryptoCom is working with regulators to comply with local laws in every market that is important for the crypto industry.