The cryptocurrency exchange Crypto.com has announced a key regulatory milestone in South Korea after the company announced the acquisition of payment service provider ‘PnLink Co. Ltd.’ and virtual asset service provider ‘OK-BIT Co. Ltd.’, giving Crypto.com access to crypto and payments registration.
We're excited to share that we’ve achieve another key regulatory milestone:
EFTA + VASP registration in South Korea 🚀🇰🇷https://t.co/vCNztABJoG is committed to being the industry leader in regulatory compliance.
— Crypto.com (@cryptocom) August 8, 2022
This means Crypto.com have met the requirements of Virtual Asset Service Provider (VASP) and Electronic Financial Transaction Act (EFTA) Registration in South Korea.
Crypto.com CEO Eric Anziani, who presented at the conference also confirmed the announcement separately on Twitter on Aug. 7, stating:
“We have secured both payment and crypto registrations in South Korea, one of the most advanced crypto market globally”
Currently, Crypto.com also have registration in:
- Greece with the Hellenic Capital Market Commission
- Italy with the Organismo Agenti e Mediatori (OAM)
- Cyprus with the Securities and Exchange Commission.