Major cryptocurrency exchange and debit card provider Crypto.com has just been granted a Class 3 Virtual Financial Assets (VFA) License by the Malta Financial Services Authority (MFSA).
According to the VFA Rulebook, a Class 3 VFA holder may hold or control the assets or money of the clients while offering a VFA service.
Being the first global cryptocurrency platform to receive a Class 3 VFA License from the MFSA is a major milestone for the industry as a whole. We are proud to lead the industry in regulatory compliance, ensuring consumer safety and protection in the EU, and look forward to securing licenses in every country we operate in.
Kris Marszalek, Co-Founder and CEO of Crypto.com
Last November, Crypto.com was approved for a Financial Institution License, which is still in process. The company will be authorized to offer payment services and issue electronic money once approved.
Crypto.com received the Card Group to gain an Australian Financial Services (AFS) license last December, which means that the company can legally operate in Australia.