Kriptomat is registered in the registry of companies from EU member states that have submitted a notification to HANFA about the provision of services related to virtual currencies in the territory of the Republic of Croatia.
Croatian AML regulation is one of few that allows crypto asset service providers (CASPs) established in another EU member state, to actively address the Croatian market upon submitting a notification to HANFA.
While Croatia has yet to enact a direct law regulating digital assets by implementing MICA, Croatia is advancing towards greater transparency to shield customers from potentially illicit entities. In 2023, HANFA introduced a notification process specifically for companies from EU member states. Croatian market has always been recognized as Kriptomat’s crucial market valuing its vibrant crypto community and developers. Following the amendments to the Croatian AML Act in January 2023, Kriptomat promptly seized this opportunity, and by July, successfully became one of the first non-resident EU entities to be listed in the register of EU companies that made notification to HANFA on the virtual asset service provision in Croatia.
“We have designed Kriptomat to make crypto simple and bring it closer to individuals in EU member states and wider. We feel very close to Croatia and that is why since 2019 we have had one of the few platforms available in the Croatian language.” said Kriptomat Group Chief Operating and Integrity Officer Dejan Davidovic” The notification with HANFA serves as tangible evidence of our commitment to regulatory compliance in Croatia. And it opens the world of secure, regulated cryptocurrency trading to hundreds of thousands of Croatian consumers.”
With a population of more than 4 million, Croatia has recently joined the EURO zone and is home to many crypto owners. But until now, only the local crypto service providers had the possibility to register their activities, while now non-resident EU companies may notify the authority on providing crypto asset services.
Kriptomat Group Chief Legal and Regulatory Officer, Irena Dimitric added “It is important for us to establish a relationship with local authorities in our key markets because, by our actions or omissions, we are affecting their economic space for money laundering and terrorist financing, so they need to be aware of our presence and our commitment to AML compliance. We are fully aware of that and we take responsibility for our share of the market, and taking responsibility should be practiced by all market players. We are committed to sharing our good practices and insights with the authorities, and we welcome their feedback and guidance. We believe that by working together, we can make a real difference in the fight against financial crime.”
“We would like to emphasize that during the notification process we received fast and efficient support from HANFA and we can easily share the exemplary experience of cooperation between CASP and the supervisory authority. We are very pleased that crypto companies enjoy such support from the Croatian authorities, as this greatly contributes to the effectiveness of regulations, and at the same time demonstrates the competitiveness and attractiveness of the Croatian market” adds Irena.
Holding a foreign CASP notification in Croatia, Kriptomat stands poised for robust growth within the region. In future collaboration with Croatian banks and financial institutions, it aims to deliver comprehensive crypto services to a broader audience. Croatian users can confidently utilize their platform, reassured by the endorsement of their local regulatory agencies.
It’s crucial to note that Kriptomat’s primary crypto license is granted by the Estonian Financial Intelligence Unit. This subjects Kriptomat to the rigorous AML regulations that are typically associated with financial institutions. Kriptomat already adheres to strict crypto financial regulations. Often, these Estonian regulations are more demanding than those in other jurisdictions. By having Kriptomat registered with local financial oversight bodies, customers gain enhanced protection. Moreover, this positioning by Kriptomat sets a high standard, providing a commendable benchmark for the entire industry.
About Kriptomat
Founded in 2018, Kriptomat is dedicated to making the benefits of cryptocurrency ownership and investing available to everyday people in Europe and around the world. The Kriptomat platform’s “Crypto But Simple” approach transfers the complexity of blockchain technology from users to the company’s product and engineering teams.
This same approach applies to security, regulatory compliance, and all other aspects of the customer relationship, as expressed in the motto “Hard on us, Easy on you.”
Headquartered in Tallinn, Estonia, Kriptomat has over 500,000 users across Europe. It presents a simple, secure, and trusted platform for cryptocurrency trading, custody, investing, staking, and accessing Web3.
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NOTE
This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. Risk only assets that you are willing to lose.
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