Crypto.com has become the first global cryptocurrency exchange to sign the undertaking with the Ontario Securities Commission (OSC).
Crypto.com, one of the world’s leading crypto platforms, has signed a key agreement with Canadian securities watchdog the Ontario Securities Commission (OSC), according to details the platform shared on Tuesday.
The exchange, whose growth over the past two years has included major deals and partnerships, announced that it had secured a Pre-registration Undertaking with the OSC in Canada, a regulatory step recognised across the country via the Canadian Securities Administration (CSA).
Crypto.com, the agreement with OSC makes the exchange the first global crypto platform in the country to operate within the parameters of such a regulatory undertaking.
Compliance is key
The terms of the pre-registration undertaking allows Crypto.com to work with the securities watchdog. Key from this is regulatory compliance, which means the exchange will offer its services and products to customers within the confines of Canadian regulations, the press release detailed.
Crypto.com CEO Kris Marszalek commented that the agreement with the Ontario securities regulator is part of the compliance efforts that “underscore” whatever the platform does. This latest chapter will help them better serve their North American customers.
“The North American market, and Canada specifically, represent a significant area of potential growth for the crypto market, and we are proud to work with the OSC and the CSA in providing Canadian customers access to a safe, secure, and reliable global platform,” Marszalek added.
The OSC agreement adds to several other regulatory footsteps Crypto.com has made in Canada. These include registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as well as Quebec’s Autorité des marchés financiers (AMF).
The announcement also adds to major regulatory scores Crypto.com has secured across the globe, including in Singapore, the UAE, South Korea, Greece, Italy and the Cayman Islands.