Crypto.com Secures Presence in France with New License

Crypto.com has become the latest cryptocurrency platform to gain approval in France. Announced on Wednesday, the platform has been registered as a Digital Asset Service Provider (DASP) in the country after receiving clearance by the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

“The European market is central to the long-term growth and success of Crypto.com, and we are tremendously proud to now receive registration in France from the AMF,” said Kris Marszalek, CEO of Crypto.com.

However, the exchange did not set any timeline for the launch of its services in France.

“We look forward to continuing to work with the AMF and the ACPR as we introduce our products and services in France, offering users a comprehensive, safe, and secure crypto platform,” Marszalek said.

Binance and eToro were two popular trading platforms to receive permission from the French regulator for offering cryptocurrencies
Cryptocurrencies

By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly…