Crypto.com is proud to announce that it has become the first global cryptocurrency platform to receive an Electronic Money Institution (EMI) License from the Malta Financial Services Authority (MFSA). The EMI License allows Crypto.com to issue cards and offer bank transfers directly to consumers.
The EMI License has been issued just two months after Crypto.com became the first global cryptocurrency platform to receive a Class 3 Virtual Financial Assets (VFA) License from the MFSA. This is another watershed moment for the cryptocurrency industry as regulatory bodies and trusted institutions come together to conduct business under the auspices of a regulated framework.
Crypto.com has worked closely with the MFSA to achieve this important milestone. Fulfilling the conditions and the on-going obligations of the applicable local and international laws and regulations is proof of Crypto.com's commitment to provide a secure and compliant crypto trading environment, protecting users’ fiat and crypto funds, throughout the world.
Kris Marszalek, Co-founder and CEO of Crypto.com said: “We have been committed from day-one to building a fully regulated business. Working with regulators is the best way to fulfill our mission of accelerating the world’s transition to cryptocurrency. Being the first global cryptocurrency platform to receive an EMI 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.”
In December 2020 Crypto.com also secured an Australian Financial Service License (AFSL). In March 2021, after receiving Principal Membership with Visa, Crypto.com was granted the ability to issue Crypto.com Visa Cards directly to consumers in Australia, which will commence soon.