Key facts:
In December 2021, CoinEX obtained the MSB license in the United States.
CoinEx has applied for licenses in various countries to operate legally.
Government regulations related to bitcoin and other cryptocurrencies have been a topic of debate among bitcoiners and economists around the world. And more and more countries are imposing restrictions on companies related to digital assets, and exchanges are no exception. Therefore, CoinEx is committed to following the laws imposed in the countries where it operates, which includes KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.
CoinEx and Cryptocurrency Regulations
This is not the first time that CoinEx has expressed its commitment and desire to comply with the laws and regulations of the territories in which it operates. For example, in December 2021, the exchange obtained the MSB license, which allows you to provide your financial services in the United States. But this was only the beginning.
The company continues to apply for more licenses and permits in other countries. This in order to accelerate its global expansion in a safe and completely legal way. In fact, CoinEx has a professional team dedicated exclusively to legal and compliance issues.
On the other hand, the exchange created a new channel on its website called Law Enforcement. The goal behind this channel is promote cooperation between regulators around the world and CoinEx. In this way, government entities and officials can make requests for the application of a law in CoinEx.
CoinEx measures to comply with AML and KYC regulations
Anonymity and borderless circulation are some of the main characteristics of bitcoin and altcoins, which is of concern to government authorities when it comes to security. That’s the reason why KYC and AML verifications have become a requirement on most of the world’s exchanges, including CoinEx.
CoinEx’s vision is to become one of the most secure, efficient, stable and global financial services platforms with the greatest reach. To achieve this, you must comply with crypto asset regulation laws.
In terms of compliance and legality, the exchange focuses on internal monitoring and external regulations. On the one hand, CoinEx is improving its KYC process and reinforcing the security measures of its platform to prevent money laundering.
Regarding internal controls, the company implemented a monitoring system and established a risk control and compliance department. This department will handle the suspension of suspicious transactions and accounts, identity authentication, and other tasks.
Since 2021, CoinEx has been conducting compliance investigations to speed up the legalization process in various countries. In addition to the MSB license, CoinEx is also applying for licenses elsewhere to comply with regulations on a global scale.
CoinEx wishes to follow the legal measures of the territories in which it offers its services, while expanding its reach. Learn more about the exchange by entering its Web page and social networks: Telegram, Twitter, Facebook and Instagram.
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