BISSNEX at the Forefront of Global Crypto Industry Compliance
New York, Dec. 28, 2023 (GLOBE NEWSWIRE) — The cryptocurrency exchange BISSNEX has recently completed key market expansion actions and gained increased recognition from the U.S. federal government and financial systems. BISSNEX’s acquisition of the U.S. MSB license signals the continuous strengthening of the platform’s capabilities and the adjustment of its global market strategy.
Following the challenging progress of Bitcoin and Ethereum ETF proposals, the U.S. has shown rising friendliness towards the crypto industry, supporting cryptocurrency taxation as property. Although their overall attitude towards cryptocurrencies remains cautious, as the industry continues to evolve, governments worldwide are gradually implementing trading and regulatory standards for the crypto industry. The widespread circulation of mainstream cryptocurrencies has made BISSNEX particularly attentive to expanding into the U.S. market.
The International Organization of Securities Commissions (IOSCO) previously released the “Consultation Report on Policy Recommendations for Crypto-Asset and Digital Asset Markets,” indicating further progress in global crypto industry regulation standards. Soon after, BISSNEX obtained the Money Services Business (MSB) license from the U.S. Financial Crimes Enforcement Network (FinCEN), a milestone demonstrating BISSNEX’s compliance with the highest industry standards in Anti-Money Laundering (AML) and Know Your Customer (KYC) practices. The platform will expand its services with higher compliance standards and strict regulatory requirements.
Since its establishment, BISSNEX has been committed to creating a safe and legal trading environment to ensure the best protection for users’ interests and assets. The acquisition of the U.S. MSB license is a significant achievement in BISSNEX’s compliance efforts, representing its leading position in trading compliance. The granting of this license requires exchanges to undergo rigorous due diligence to ensure compliance with the highest financial regulatory standards.
In the U.S. states of New York and California, cryptocurrencies are considered legal digital assets. Based on its global market strategy, BISSNEX has strategically established its headquarters in New York, a decision made after careful consideration of the global regulatory environment of cryptocurrencies. The U.S., particularly New York, is known for its stringent regulatory framework, providing a solid foundation for financial business expansion. BISSNEX recognizes the importance of working closely with regulatory authorities to create a safe and sustainable cryptocurrency trading environment.
BISSNEX is positioned at the forefront of compliance in the crypto industry. As a global financial centre, New York offers abundant financial resources and professional talent, providing BISSNEX with ample development opportunities. BISSNEX has also announced plans to expand its compliance team, recruiting various talents specializing in cryptocurrency regulations. This team will work tirelessly to ensure BISSNEX’s operations comply with all relevant local and international regulations, providing users with peace of mind during trading. In addition to advancing compliance work, BISSNEX actively collaborates with regulatory bodies and industry associations to stay abreast of the latest developments in the cryptocurrency field.
As the crypto industry continues to evolve, BISSNEX remains firmly committed to operating with the highest compliance and security standards. The acquisition of the MSB license is a clear practice of this commitment, demonstrating BISSNEX’s determination to provide a safe and compliant trading environment for its users.
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