Crypto.com Exchange: licences, security, fees and reviews
Centralized exchange
In short
- Legal entity
- Foris DAX Limited, publisher of the current Exchange Terms and Conditions (last updated 22 December 2025); formerly CRO DAX Limited and described in a 2024 Maltese arbiter decision as incorporated in the Cayman Islands
- Fees
- Spot maker: 0.25% at Level 1 (under $10,000 30-day spot volume); 0.2425% with a CRO balance
- Risks and caveats
- The latest proof-of-reserves report on the official page is dated 9 December 2022, as of 7 December 2022, covers nine assets and is agreed-upon procedures, not an audit.
- Checked
- 29 October 2026
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Key facts
- Type
- Centralized exchange
- Exchange launched
- 2019
- Country of registration
- Cayman Islands
- Operator
- Foris DAX Limited
- Official site
- crypto.com/exchange
Key facts checked on 29 October 2026 against official sources and regulator registers.
What is Crypto.com Exchange
Crypto.com Exchange is the order-book trading venue of the Crypto.com group, opened to the public in December 2019. It offers spot, margin and perpetual futures trading on 350+ assets, plus trading bots, staking and OTC services. Its current Terms and Conditions (last updated 22 December 2025) are published by Foris DAX Limited, which a 2024 Maltese arbiter decision describes as incorporated in the Cayman Islands; in the UK the Exchange is offered by Foris DAX UK Limited.
Good to know
- The Exchange is run by a different company from the Crypto.com App. In a Maltese arbiter case decided on 11 October 2024, the group's Malta company stated that at the material time (January 2022) the Exchange was provided by Foris DAX Limited (Cayman Islands, formerly CRO DAX Limited). ↗
- The arbiter dismissed a complaint against Foris DAX MT Limited about unauthorised transactions. The loss was not shown on that company's App account, and the arbiter noted that the Malta scheme has no jurisdiction over the Cayman Exchange entity, which was never licensed by the MFSA. ↗
- In the EEA, Crypto.com's crypto services are provided by Foris DAX MT Limited in Malta, listed in ESMA's MiCA register since 27 January 2025 with services passported to 29 EEA countries. ↗
- In the UK the Exchange is offered by Foris DAX UK Limited, registered with the FCA under the Money Laundering Regulations for certain cryptoasset activities; UK users have no FSCS protection or Financial Ombudsman recourse for crypto. ↗
- Crypto.com describes its Hong Kong status as a deemed licence. The SFC lists Foris DAX HK Limited as an applicant deemed to be licensed and states such applicants are not formally licensed (list checked 29 October 2026). ↗
- The proof-of-reserves report on the official page is dated 9 December 2022, as of 7 December 2022, and covers nine assets. It was agreed-upon procedures engaged by Foris DAX MT Limited, not an audit. ↗
- Fee discounts require a CRO balance held on the Exchange; forced liquidations carry a 0.5% fee. ↗
- US derivatives are offered through a separate CFTC-designated exchange, formerly Nadex, which a Crypto.com company bought in March 2022. ↗
- Foris DAX MT Limited's MiCA authorisation lists six services: exchange for funds or other crypto-assets, receiving, transmitting and executing orders, transfers, and custody. Operating a trading platform is not on the list. ↗
- For US residents, Crypto.com says USD balances are held at FDIC-insured partner banks. That insurance applies only if a bank fails, not if Crypto.com fails, and it does not cover theft or fraud. ↗
Services
| Parameter | Details |
|---|---|
| Spot trading | Spot and margin order-book trading |
| Derivatives | Perpetual futures |
| Staking / Earn | Staking, DeFi and dual investment products |
| OTC | OTC desk and custody for institutions |
| Own blockchain | Cronos, an EVM-compatible layer-1 blockchain |
| Own token | CRO; a CRO balance on the Exchange gives trading fee benefits: a 3% discount in the fee table, or 0% maker fees or maker fee rebates, depending on the CRO balance amount |
Licences and registrations
| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| European Union | Foris DAX MT Limited | MiCA crypto-asset service provider, authorised 27 January 2025; passported to 29 EEA countries | Malta Financial Services Authority (MFSA) |
| United States | North American Derivatives Exchange, Inc. (d/b/a Crypto.com) | Designated contract market, status Designated; margined futures allowed since 30 September 2025 | Commodity Futures Trading Commission (CFTC) |
| United States | Foris Capital US LLC | Broker-dealer, SEC no. 8-69712, FINRA status active | SEC / FINRA |
| Singapore | Foris DAX Asia Pte. Ltd. | Major Payment Institution licence, digital payment token service | Monetary Authority of Singapore (MAS) |
| United Arab Emirates (Dubai) | Foris DAX Middle East FZE | VASP licence VL/23/10/003, issued 3 April 2024, active; includes exchange services with derivatives | Virtual Assets Regulatory Authority (VARA) |
| United Kingdom | Foris DAX UK Limited | Cryptoasset business registered under the Money Laundering Regulations since 16 August 2022, FCA reference 941745 | Financial Conduct Authority (FCA) |
| Cayman Islands | Foris DAX Limited | Virtual asset service provider, as listed by Crypto.com without naming the entity; a 2024 Malta arbiter decision describes Foris DAX Limited as incorporated and licensed in Cayman | — |
| Hong Kong | Foris DAX HK Limited | Applicant for a virtual asset trading platform licence (filed 9 February 2024), deemed to be licensed; not formally licensed by the SFC | Securities and Futures Commission (SFC) |
| Canada | — | Money-services business registration with FINTRAC and a restricted dealer registration, as listed by Crypto.com | FINTRAC (MSB registration); restricted dealer regulator not named by Crypto.com |
| Australia | — | Digital currency exchange registration and financial services licence, as listed by Crypto.com | — |
| United States | Foris DAX, Inc. | Money services business registration (Tyler, Texas) | Financial Crimes Enforcement Network (FinCEN) |
| United States | Foris DAX, Inc. (NMLS ID 1966158) | Money transmitter licences in US states and territories, as listed by Crypto.com | US state financial regulators |
| United States | Foris DAX, Inc. | National Futures Association member, NFA ID 0567284, as listed by Crypto.com | National Futures Association (NFA) |
| United States | Foris DAX Trust Company, LLC | Non-depository chartered trust company in New Hampshire (NMLS ID 2681753), as listed by Crypto.com | New Hampshire Banking Department |
| European Union | Foris MT Limited | Electronic money institution; provides the Cash Account and the Visa card in the EEA | Malta Financial Services Authority (MFSA) |
| Cyprus | Foris Capital CY Limited | Cyprus investment firm, CySEC licence no. 344/17 (formerly A.N. Allnew Investments Limited); provides the EUR Cash Yield product | Cyprus Securities and Exchange Commission (CySEC) |
| Brazil | Foris GFS BR Instituição de Pagamento Ltda. | Payment institution in the Central Bank register | Banco Central do Brasil |
| United Arab Emirates (Abu Dhabi) | — | ADGM Category 3A licence, as listed by Crypto.com | Abu Dhabi Global Market (ADGM) |
| United Arab Emirates (Dubai) | — | Stored value facilities licence, as listed by Crypto.com | — |
| Bahrain | — | Payment service provider licence, as listed by Crypto.com | — |
| Mauritius | — | Investment dealer licence, as listed by Crypto.com | — |
Status in the United States and the United Kingdom
- Foris DAX, Inc., doing business as Crypto.com, appears in FinCEN’s Money Services Business registrant list with a Tyler, Texas address and a filing received on 30 April 2026 (list downloaded 28 October 2026). New York is not among the states listed for that entity. FinCEN MSB Registrant Search
- The CFTC lists North American Derivatives Exchange, Inc. d/b/a crypto.com as a designated contract market. Foris DAX Markets, Inc. acquired it in March 2022; on 30 September 2025 its designation order was amended to allow margined futures cleared through registered FCMs. CFTC, Designated Contract Markets
- In the UK, Foris DAX UK Limited (FCA reference 941745) has been registered for cryptoasset activities under the Money Laundering Regulations since 16 August 2022 (checked 29 October 2026). The Register notes that the Financial Ombudsman Service and the FSCS cannot help with this firm. FCA Financial Services Register
- Crypto.com said on 27 March 2025 that the SEC had closed its investigation into the company without an enforcement action. This followed a Wells notice and a lawsuit Crypto.com filed against the SEC in October 2024. Crypto.com had dropped that lawsuit in December 2024. Crypto.com newsroom
Checked on 29 October 2026 against regulator registers and the text of the law.
Proof of reserves as of 7 December 2022
| Asset | Reserve ratio |
|---|---|
| BTC | 102.0% |
| ETH | 101.0% |
| USDC | 102.0% |
| USDT | 106.0% |
| XRP | 101.0% |
| DOGE | 101.0% |
| SHIB | 102.0% |
| LINK | 101.0% |
| MANA | 102.0% |
Method: Agreed-upon procedures (ISRS 4400) by an independent accounting firm, with a Merkle tree for user self-verification. Mazars ↗
Security and audits
- Crypto.com reports ISO 22301, ISO/IEC 27701, ISO/IEC 27001, PCI DSS v4.0 Level 1 and SOC 2 Type II compliance, and a Tier 4 assessment under the NIST Cybersecurity and Privacy Frameworks.
- Access to funds in cold and hot wallets is under strict controls, according to the company; whitelisting withdrawal addresses by email is mandatory, and accounts support passkeys and FIDO2.
- A public bug bounty programme runs on HackerOne, and security firms such as Kudelski Security have been engaged to stress test and audit its core blockchain systems.
- An incident on 17 January 2022 affected 483 users; Crypto.com says it prevented most of the unauthorised withdrawals and reimbursed the rest (unauthorised withdrawals totalled 4,836.26 ETH, 443.93 BTC and about US$66,200 in other crypto).
- On 18 January 2022 a mandatory 24-hour delay was added before the first withdrawal to a newly whitelisted address.
- On 20 January 2022 Crypto.com announced an Account Protection Program restoring up to US$250,000 for qualified users.
Fees
| Parameter | Details |
|---|---|
| Spot maker | 0.25% at Level 1 (under $10,000 30-day spot volume); 0.2425% with a CRO balance |
| Spot taker | 0.50% at Level 1; 0.485% with a CRO balance |
| Spot maker / taker, Level 5 | 0.08% maker / 0.18% taker from $500,000 of 30-day spot volume; 0.0776% / 0.1746% with a CRO balance |
| Liquidation fee | 0.5% on forced liquidations |
Who can use it
- Verification: The Exchange Terms and Conditions require users to supply the information and documents needed for know-your-customer checks and authorise electronic identity verification.
- Users must be resident in an available jurisdiction. Crypto.com's spot trading geo-restrictions list (dated 7 May 2025, linked from the Exchange terms) restricts users from regions including the People's Republic of China (CN), Hong Kong, Malta, Russia, Iran, North Korea and five regions of Ukraine; instruments and services also vary by jurisdiction.
History
| Date | Event |
|---|---|
| 4 December 2019 | Crypto.com Exchange opens to the public after a private beta in November 2019. |
| 17 January 2022 | An incident affects 483 users; Crypto.com says it prevented most of the unauthorised withdrawals and reimbursed the rest. Withdrawals are paused for about 14 hours and 2FA is reset for all users. |
| March 2022 | Foris DAX Markets, Inc. acquires the US derivatives exchange Nadex, which then trades under the Crypto.com name. |
| 16 August 2022 | Foris DAX UK Limited is registered with the UK FCA for cryptoasset activities under the Money Laundering Regulations. |
| 27 September 2022 | Foris DAX MT Limited is registered with France's AMF as a digital asset service provider (PSAN E2022-054); the registration lapsed on 12 February 2025 because of its MiCA authorisation. |
| 7 December 2022 | Mazars performs a proof-of-reserves engagement (report dated 9 December 2022) showing reserve ratios of 101–106% for nine assets. |
| 2 October 2023 | The Dutch central bank (DNB) fines Foris DAX MT Limited €2,850,000 for having provided crypto services in the Netherlands without the required DNB registration. DNB's current notice on a fine of the same date and amount, which does not name the provider, says the Court of Rotterdam reduced it to €2,277,500 on 19 December 2025 and that DNB appealed to the Trade and Industry Appeals Tribunal (CBb) on 29 January 2026. |
| 9 February 2024 | Foris DAX HK Limited applies to the Hong Kong SFC for a virtual asset trading platform licence. |
| 3 April 2024 | Dubai's VARA issues a VASP licence to Foris DAX Middle East FZE, covering exchange services including derivatives trading. |
| October 2024 | Crypto.com, having received an SEC Wells notice in 2024, files suit against the SEC (October 2024); it drops the lawsuit in December 2024. |
| 27 January 2025 | Foris DAX MT Limited is authorised under MiCA by the Malta Financial Services Authority. |
| 27 March 2025 | Crypto.com says the SEC closed its investigation with no enforcement action, after a Wells notice in 2024. |
| 30 September 2025 | The CFTC amends the order of its US derivatives exchange to allow margined futures. |
Risks and caveats
- The latest proof-of-reserves report on the official page is dated 9 December 2022, as of 7 December 2022, covers nine assets and is agreed-upon procedures, not an audit.
- Where the Exchange contract is with Foris DAX Limited (in the UK the Exchange is offered by Foris DAX UK Limited), a 2024 Maltese arbiter decision found that the Malta complaints scheme has no jurisdiction over that company, described as incorporated and licensed in Cayman.
- UK users have no FSCS protection or Financial Ombudsman recourse for crypto holdings.
- Products and instruments vary by jurisdiction and are provided by different group companies.
- The 2022 proof-of-reserves report does not disclose the nominal amounts of assets and liabilities and does not cover balances after its reporting date.
- For US residents, FDIC insurance on USD balances applies only if a partner bank fails, not if Crypto.com fails.
About the company
- Legal entity
- Foris DAX Limited, publisher of the current Exchange Terms and Conditions (last updated 22 December 2025); formerly CRO DAX Limited and described in a 2024 Maltese arbiter decision as incorporated in the Cayman Islands
- Legal entity
- EEA: Foris DAX MT Limited (Malta, company no. C 88392)
- Legal entity
- UK: Foris DAX UK Limited (company no. 12843841)
- Legal entity
- US: Foris DAX, Inc., Tyler, Texas (money services business)
- Brand
- Crypto.com is a trade name used by several affiliated legal entities, each with its own terms, as the group stated in a 2024 Malta arbiter case
- Founded
- 2016 (Crypto.com group); the Exchange opened in 2019
- Co-founders
- Named on the About page: Kris Marszalek (CEO), Rafael Melo (CFO) and Bobby Bao
- CEO
- Kris Marszalek (co-founder)
- President & COO
- Eric Anziani
- EEA office
- Level 7, Spinola Park, St Julian's, Malta
- Exchange benefit token
- Cronos (CRO)
- US derivatives brand
- Crypto.com | Derivatives North America (CDNA), a CFTC-regulated exchange
Official links
- Website: crypto.com/exchange
- Fees: crypto.com/exchange-pro/en-US/document/fees-limits
- Proof of reserves: crypto.com/proof-of-reserves
- Licences: crypto.com/en/licenses
- Security: crypto.com/en/security
- Terms of use: crypto.com/exchange/document/tnc
Questions and answers
Is Crypto.com Exchange regulated?
The current Exchange Terms and Conditions are published by Foris DAX Limited, which a 2024 Maltese arbiter decision describes as incorporated and licensed in Cayman; in the UK the Exchange is offered by Foris DAX UK Limited. Group companies are on regulator registers in the EU (MiCA, Malta), the UK (FCA, anti-money-laundering registration), Singapore, Dubai and the US; in Hong Kong the SFC lists its company as an applicant, not formally licensed.
Does Crypto.com publish proof of reserves?
Yes, but the report on its site is dated 9 December 2022, as of 7 December 2022: Mazars found reserve ratios of 101% to 106% for nine assets, including 102% for BTC and 106% for USDT.
What are Crypto.com Exchange's fees?
At the entry level (under $10,000 of 30-day spot volume) spot fees are 0.25% maker and 0.50% taker. A CRO balance on the Exchange gives trading fee benefits: a 3% discount in the fee table, or 0% maker fees or maker fee rebates, depending on the CRO balance amount.
Who founded and runs Crypto.com?
Co-founders named on the About page: Kris Marszalek (CEO), Rafael Melo (CFO) and Bobby Bao. The group's ultimate parent company is not disclosed on its site.
Is Crypto.com Exchange available in the US and the EU?
In the EU, Foris DAX MT Limited is MiCA-authorised in Malta; its MiCA authorisation does not include operating a trading platform, and the Exchange's spot-trading geo-restriction list includes Malta. In the US, Crypto.com offers derivatives through a CFTC-designated exchange; availability of each product varies by jurisdiction.
Has Crypto.com Exchange been hacked?
An incident on 17 January 2022 affected 483 users; Crypto.com says it prevented most of the unauthorised withdrawals and reimbursed the rest (unauthorised withdrawals totalled 4,836.26 ETH, 443.93 BTC and about US$66,200 in other crypto). It then added a 24-hour delay before the first withdrawal to a newly whitelisted address.
Which company runs Crypto.com Exchange in each region?
The current Exchange Terms and Conditions name Foris DAX Limited, described in a 2024 Maltese arbiter decision as a Cayman Islands company; in the UK the Exchange is offered by Foris DAX UK Limited. Other group companies include Foris DAX MT Limited (EEA) and Foris DAX, Inc. (US money services).
Is Crypto.com licensed in Hong Kong?
Foris DAX HK Limited applied to the SFC on 9 February 2024 and is listed as deemed to be licensed; the SFC states that such applicants are not formally licensed. Hong Kong is on the Exchange's spot-trading geo-restriction list dated 7 May 2025.
Sources
- Crypto.com Exchange — Home
- Crypto.com Exchange — Terms and Conditions (PDF), last updated 22 December 2025
- Crypto.com Help Center — Spot Trading Geo-Restrictions, 7 May 2025
- De Nederlandsche Bank — Fine for Foris DAX MT Limited (Crypto.com), 2024 (archived)
- De Nederlandsche Bank — Fine for crypto service provider (current notice, court ruling of 19 December 2025 and CBb appeal)
- Crypto.com Exchange — Fees & Limits
- Crypto.com — Licenses & Registrations
- Crypto.com — About Us
- Crypto.com — About Us (EEA)
- Crypto.com — Security
- Crypto.com — Proof of Reserves
- Mazars — Proof of Reserve Report for Crypto.com, 9 December 2022
- Crypto.com — Security Report & Next Steps, 20 January 2022 (archived)
- Crypto.com — SEC Closes Crypto.com Investigation with No Action, 27 March 2025
- Crypto.com — Exchange Public Beta Now Live, 4 December 2019 (company release on PR Newswire)
- Office of the Arbiter for Financial Services (Malta) — Case ASF 077/2024, 11 October 2024
- ESMA — Interim MiCA register of crypto-asset service providers
- MAS — Financial Institutions Directory: Foris DAX Asia Pte. Ltd.
- VARA — Public register
- CFTC — Designated Contract Markets: North American Derivatives Exchange, Inc.
- FINRA BrokerCheck — Foris Capital US LLC
- SFC — Lists of virtual asset trading platforms
- FCA Financial Services Register — Foris DAX UK Limited
- FinCEN — MSB Registrant Search
- Crypto.com — US licences and disclosures (PDF)
- Banco Central do Brasil — Instituições em funcionamento (open data)
- AMF — Liste des PSAN radiés
- Crypto.com — Cash Yield Program in Europe, 9 April 2026
- Crypto.com — Roadmap
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