The license is a notable win for the cryptocurrency industry, as it hints at the possibility of a broader recognition of digital assets in the European Union. On the flip side of its new status, Crypto.com will now be subjected to tighter security requirements and compliance.
Before the license was granted, the crypto firm was operating under a transitory legal framework in the tiny Mediterranean country.
Speaking on the development, Kris Marszalek, the co-founder and CEO of Crypto.com explained that “building a fully regulated business” is the best way to push the frontiers of cryptocurrency adoption. He said:
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Source: Cryptocurrency - investing.com
