We're glad to share that CEX.IO has acquired “in-principle” standing for the Distributed Ledger Know-how (DLT) license issued by the Gibraltar Monetary Companies Fee (GFSC). Which means that we're presently originally of the ultimate stage within the authorization course of. To obtain the license, it's important to show that every one the procedures in our firm fulfill the ultimate GFSC situations.
The Distributed Ledger Know-how (DLT) license
Gibraltar, the issuer of the DLT license, is among the first crypto-friendly regulators for licensing companies coping with cryptocurrencies. The regulator totally examines the procedures of firms that apply for regulation. Solely after rigorous checks do they supply licenses to candidates.
Corporations looking for regulatory approval should show that their company governance and threat administration, safety of consumer property, and monetary crime prevention practices are consistent with robust regulatory requirements. We're proud that our procedures have efficiently handed all examinations and in some features have even surpassed the regulatory requirements.
CEX.IO and the regulatory sphere
We perceive the relevance of laws to the cryptocurrency sphere and their contribution to rising buyer belief. Subsequently, we've at all times strived to fulfill the regulatory necessities of nations the place we ship our providers.
Since CEX.IO was established, we've been a self-regulated cryptocurrency trade following business greatest practices. Along with a set of inside procedures and guidelines, we additionally efficiently work with exterior regulators. In 2015, CEX.IO registered as an MSB (Cash Companies Enterprise) with FinCEN in the USA.
At the moment, we're cooperating with regulators in numerous jurisdictions, together with Gibraltar, Cyprus, and the UK. In doing so, we are attempting to extend consciousness of the specifics of cryptocurrency and blockchain regulation and thus assist the cryptocurrency sphere grow to be extra clear.
To meet our mission and information our prospects into the open monetary system, we're constructing a set of providers that meet all their wants. And we consider that assembly regulatory requirements will assist us present these providers with the very best potential high quality.