On December 28, 2021, the cryptocurrency trading platform CoinEx got their US MSB (Money Service Business) license application approved.Approved by the Financial Crimes Enforcement Network (FinCEN), they were officially granted the MSB license (registration number: 31000205450387).
With this approval, it marks an important milestone in the entire history of CoinEx Exchange and also reaffirms its position as one of the leading cryptocurrency exchange platforms in the world. Known as one of the most stringent licenses for crypto-asset exchanges globally, the MSB license has fairly strict review procedures. With this license, CoinEx Exchange has the right to carry out cryptocurrency transactions legally throughout the American soil., in order to promote the development of derivative contracts, including the issuance of crypto, ICO (Initial Coin Offering) and currencies.
One step further: CoinEx opens a door in the US market with the MSB license
In March 2018, the United States Department of the Treasury and the Securities and Exchange Commission released a joint statement, making it clear that all digital currency exchanges and their managers who wish to conduct asset-related business digital on American soil, they must register the MSB license with FinCEN.
The MSB license is a financial license that is supervised and issued only by the Financial Crimes Enforcement Network (FinCEN) or better known as the Financial Crimes Control Network. This is an agency under the US Department of the Treasury, which is primarily charged with overseeing companies and businesses that offer monetary and financial services, including trading digital assets, ICOs, and currencies.
Currently, the license is among the most necessary for crypto-asset exchange platforms in the world. In that sense, companies such as Coinbase, Binance, Okex and Huobi also have the Money Services Business (MSB) license.
Keeping pace with globalization, CoinEx promotes security in its operations
With the rapid development of the crypto asset market, security has become the biggest and most important problem faced by all exchanges worldwide. When CoinEx was founded in December 2017, from the beginning it offered its users the tools and confidence necessary for its development and, above all, an effective, fast, fluid and pleasant experience. In this way, CoinEx managed to settle in everyone’s hearts and is permanently committed to becoming the most secure, stable and efficient crypto-asset exchange platform for each of its users around the world.
CoinEx Exchange has always been committed to following a global development strategy. With the official registration of the MSB license, CoinEx Exchange accelerates its plan to go global. It is reported that in addition to obtaining the MSB license in the US, financial licenses are also being actively requested to operate in all countries where CoinEx is currently available. For the exchange, the license granted by the United States will serve as a springboard to enter fully into the United States market and even other world markets. We must trust that very soon CoinEx will offer its premium products and services worldwide, thus amplifying its presence at global levels.
Looking to the long term
Since its inception; CoinEx has focused on ensuring that its operations and services are of the highest quality and always confirming the security of the assets of each of its users. Now, with this new door that opens in the American market, we trust more in it. Likewise, with this license CoinEx maintains its strength and credibility, and in turn expands the opportunities to expand its presence in the market in the long term.
In the future, this license will be an essential requirement for all crypto-asset exchanges. Whoever has this license in advance, will enjoy the advantage of being up to date with the regulations and with this they will be able to offer their services to everyone who requires it and needs it, which is why CoinEx is always one step ahead.