Key takeaways:
- Crypto.com has secured a license to operate within The Netherlands by De Netherlands Bank
- Crypto.com continues to work with regulators to secure official compliance documents
- CRO increased by 10% on 28th July as news broke regarding Crypto.com’s milestone
Crypto.com announced that it has secured a license to operate in The Netherlands after having an application approved by De Netherlands Bank (DNB). This landmark development makes Crypto.com an official provider of cryptocurrency exchange services in the country.
DNB reviewed Crypto.com’s business operations in depth before reaching a conclusion that the exchange is fully compliant with financial regulations. Crypto.com’s license to operate under The Netherlands’ Money Laundering and Terrorist Financing Act (Wwft) has been added to a growing list of national licenses being acquired by the company.
Crypto.com has now gained licenses for the following jurisdictions:
- The Netherlands
- Singapore
- France
- United Kingdom
- Dubai
- South Korea
- Australia
- Spain
- Italy
- Greece
- Cyprus
- Cayman Islands
- United States
- Canada
Crypto.com continues to work alongside regulators in countries around the world to secure its compliance documents. The addition of The Netherlands marks the continuation of a positive regulatory trend towards certified compliance for Crypto.com, as The Netherlands is now the 6th major EU nation to grant an official license to the exchange.
Kris Marzsalek, CEO of Crypto.com, stated that “collaborating with regulators to advance the crypto and blockchain industry is of paramount importance to Crypto.com.”
How could Crypto.com’s compliance impact the CRO token?
Cronos, known by the ticker symbol CRO, is the native cryptocurrency of the Crypto.com ecosystem. In addition to offering a range of trading services on its centralized exchange (CEX), Crypto.com launched a custom blockchain network called Cronos chain that is compatible with Ethereum Virtual Machine.
CRO tokens are used to pay transaction fees on the Cronos blockchain, as well as to gain benefits while trading on the Crypto.com CEX. CRO plays an important role in the way that the Crypto.com ecosystem operates, so price action for the CRO token is expected to react positively to warming regulatory conditions over the long term.
CRO price prediction
The current price of CRO is $0.06020. CRO price increased by 10% after news broke regarding Crypto.com’s license to operate in The Netherlands. The CoinCodex price prediction algorithm forecasts that CRO will reach $0.06125 over the coming 30-day period.
Source: https://coincodex.com/article/30761/cryptocom-secures-dutch-license-ceo-kris-marszalek-calls-it-a-significant-milestone-for-the-exchange/