Crypto.com Unfazed Over Singapore Crackdown on Crypto
  • Crypto.com announced integration with Travel Rule Universal Solution Technology (TRUST) in a tweet.
  • The integration marks a milestone for the company to work towards complying with Travel Rule requirements.
  • Several users who commented on the tweet were upset about the services that Crypto.com provides.

Singapore-based crypto exchange Crypto.com announced its integration with the Travel Rule Universal Solution Technology (TRUST), a Travel Rule adherence solution for global cryptocurrency organizations.

According to the news blog from Crypto.com, the integration symbolizes a breakthrough for the company as they plan to act in accordance with the industry-standard Travel Rule requirements authorized globally.

TRUST is a platform that permits crypto exchanges to securely send information legally required by the Travel Rule. It also supports its members to quickly adapt to the conditions required by various authorities.

Crypto.com is dedicated to speeding up the adoption of cryptocurrency built on security, privacy, and compliance. Their recent integration with TRUST marks a significant milestone for Crypto.com to develop a trustworthy and more equitable digital ecosystem.

Meanwhile, several Crypto.com users were upset with the services that the exchange has been providing. Crypto.com user @Hawkin24_7 replied with the announcement that the latter charges more than Binance so he went back with them.

As of May 25, Crypto.com has a 0.4% trading fee for regular users. The fees can be deducted up to 0.04% for makers and 0.1% for takers, depending on how high the trading volume of a user reached in 30 days. 

Yet on Binance, regular users have 0.1% trading fees and can also be deducted up to 0.02% for makers and 0.04% for takers depending on the user’s trading volume. In addition, Binance applies a 25% discount for BNB traders. 

Until users stake more than 50 million Crypto.com Coin (CRO) on the platform, Binance has been more affordable and user-friendly fees for its users.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.