Crypto.com has announced access to registration for payments and cryptocurrencies after acquiring two local businesses and reaching a significant regulatory milestone in South Korea.  The company had previously announced the purchase of virtual asset service provider "OK-BIT Co. Ltd." and payment service provider "PnLink Co. Ltd." during Korea Blockchain Week 2022. As a result of the action, they are now officially registered as South Korean Virtual Asset Service Providers under the Electronic Financial Transaction Act.

https://twitter.com/cryptocom/status/1556444941835849728
<h2>Crypto.com Registers as a Virtual Asset Service Provider</h2>
Registration as a virtual asset service provider will enable Crypto.com to offer custody and exchange services for digital assets. At the same time, registration under the Electronic Financial Transaction Act keeps them compliant with the legislation governing the security and legitimacy of electronic financial transactions. The business did not specify whether this meant it could provide its entire range of cryptocurrency trading services in the nation. Crypto.com CEO Eric Anziani  separately verified on Twitter on August 7 who gave a presentation during the conference and stated,
<blockquote><em>"Today, we announced that we have secured payment and crypto registrations in South Korea, one of the most advanced #crypto markets globally."</em></blockquote>
The announcement comes after Crypto.com <a href="https://www.cryptoknowmics.com/news/crypto-com-gets-provisional-approval-to-operate-in-dubai">received </a>provisional approval for its virtual asset licence from the Dubai Virtual Assets Regulatory Authority and in-principle permission for a significant payment institution license from the Monetary Authority of Singapore. Additionally, they are registered with Cyprus's Securities and Exchange Commission, the Organismo Agenti e Mediatori (OAM) of Italy, and the Hellenic Capital Market Commission of Greece.

Crypto.com Receives Key Regulatory Milestone in South Korea

Crypto.com has announced access to registration for payments and cryptocurrencies after acquiring two local businesses in South Korea.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Crypto.com Receives Key Regulatory Milestone in South Korea

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