The licence was issued by the Gibraltar Financial Services Commission.
Just one week after CEX.IO announced that it had secured Money Transmitter Licenses (MTLs) in the United States, the cryptocurrency exchange revealed this Wednesday that it has received a Distributed Ledger Technology (DLT) license in Gibraltar.
To secure the license, which was issued by the Gibraltar Financial Services Commission (GFSC), CEX.IO had to satisfy the regulator’s requirements based on the Nine Regulator Principles.
These include effective corporate governance arrangements and risk management, financial crime prevention practices, advanced security systems and protocols, protection of customer assets, and adopting standards of honesty and integrity.
Gibraltar is quickly establishing itself as a supportive jurisdiction for Blockchain and Cryptocurrencies. In April, LMAX Digital, the institutional crypto exchange of the LMAX Group, secured a license in the region, as Finance Magnates reported.
Commenting on the license, Oleksandr Lutskevych, CEO of CEX.IO, said: “GFCS was one of the first regulatory bodies to offer such licence to crypto businesses. And CEX.IO was among the first cryptocurrency exchanges in Europe to implement the highest standards of regulatory procedures and compliance. We’re proud that those accomplishments allowed us to obtain a DLT licence.”
In order to secure the license, the crypto exchange sought the guidance of Hassans International Law Firm’s fintech team. The company also had an evaluation conducted on its internal processes and procedures.
“We see this licence as one more proof that CEX.IO is a reliable and secure platform for customers who want to engage in the digital economy in a transparent and regulated way,” added Lutskevych.
“Also, this status illustrates that we are ready to meet any regulatory expectations which will be set by the forthcoming implementing of the 5th Anti-Money Laundering Directive in 2020 in the EU.”
CEX.IO goes legit in the US
Last week, the crypto exchange revealed that it had secured MTL licenses in nine states, including Iowa, Kansas, New Mexico, Oklahoma, South Dakota, West Virginia, Maryland, Alaska, and New Hampshire.
Back in 2015, CEX.IO received a money service business (MSB) status with the Financial Crimes Enforcement Network (FinCEN). This allows a company to act as a money transmitter in the United States with the stringent independent annual audit.
However, the service was restricted to residents in states where MTLs are not required. This means that 28 US states and territories were excluded. However, with the MTL, CEX.IO can now serve clients in these states, with plans to expand to all 50 states.
Just one week after CEX.IO announced that it had secured Money Transmitter Licenses (MTLs) in the United States, the cryptocurrency exchange revealed this Wednesday that it has received a Distributed Ledger Technology (DLT) license in Gibraltar.
To secure the license, which was issued by the Gibraltar Financial Services Commission (GFSC), CEX.IO had to satisfy the regulator’s requirements based on the Nine Regulator Principles.
These include effective corporate governance arrangements and risk management, financial crime prevention practices, advanced security systems and protocols, protection of customer assets, and adopting standards of honesty and integrity.
Gibraltar is quickly establishing itself as a supportive jurisdiction for Blockchain and Cryptocurrencies. In April, LMAX Digital, the institutional crypto exchange of the LMAX Group, secured a license in the region, as Finance Magnates reported.
Commenting on the license, Oleksandr Lutskevych, CEO of CEX.IO, said: “GFCS was one of the first regulatory bodies to offer such licence to crypto businesses. And CEX.IO was among the first cryptocurrency exchanges in Europe to implement the highest standards of regulatory procedures and compliance. We’re proud that those accomplishments allowed us to obtain a DLT licence.”
In order to secure the license, the crypto exchange sought the guidance of Hassans International Law Firm’s fintech team. The company also had an evaluation conducted on its internal processes and procedures.
“We see this licence as one more proof that CEX.IO is a reliable and secure platform for customers who want to engage in the digital economy in a transparent and regulated way,” added Lutskevych.
“Also, this status illustrates that we are ready to meet any regulatory expectations which will be set by the forthcoming implementing of the 5th Anti-Money Laundering Directive in 2020 in the EU.”
CEX.IO goes legit in the US
Last week, the crypto exchange revealed that it had secured MTL licenses in nine states, including Iowa, Kansas, New Mexico, Oklahoma, South Dakota, West Virginia, Maryland, Alaska, and New Hampshire.
Back in 2015, CEX.IO received a money service business (MSB) status with the Financial Crimes Enforcement Network (FinCEN). This allows a company to act as a money transmitter in the United States with the stringent independent annual audit.
However, the service was restricted to residents in states where MTLs are not required. This means that 28 US states and territories were excluded. However, with the MTL, CEX.IO can now serve clients in these states, with plans to expand to all 50 states.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!