Bursa (Crypto.com), a digital debit card provider, has completed the acquisition of an Australian Financial Services Company to secure an Australian Financial Service (ASFL) license. / p>
The acquired company, The Card Group Party Limited, was described as specializing in prepaid cards, mobile solutions, and wearables to enhance cardholder engagement. / p>
According to Queen Telegraph, the company has already been approved by the Australian Foreign Investment Review Board, paving the way for Crypto's Australian Financial Service License.
With the assurance of obtaining an Australian Financial Service license, Crypto.com will be licensed to legally issue its title card in Australia and establish direct relationships with local consumers as well as the authorities Actors in the broader Australian financial services system.
Crypto.com - which operates an app, exchange and decentralized finance portfolio, as well as a Visa card - has already taken some first steps towards creating an Australian user base; It recently enabled transfers in Australian dollars into and out of its platform via NPP (Pay ID) or PayPay from user bank accounts.
All blockchain companies whose activities include certain financial services are required to obtain an Australian Financial Service license to operate in Australia, which means that they are required to comply with AML / CFT For the year 2006.
Australia is considered by digital business operators a relatively lenient jurisdiction from a regulatory perspective, as the measures introduced by the country so far are based on long-term awareness of the emerging sector, which returns Its date back to 2014 - long before the hype and the 2017 asset class rise.
But from the perspective of blockchain technology on a larger scale, the National Blockchain Roadmap for Australia has drawn some criticism due to its apparently narrow vision.
