How can a digital currency futures exchange be considered legal?

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With the hotness of the cryptocurrency market, more and more people want to make a pot of gold on it. Many messy trading platforms have gradually appeared in the market. However, they do not have a good regulatory agency to control and supervise them.

Recently, Bexplus, an exchange that has been established for three years, has officially obtained the MSB license under the guidance of the U.S. regulator FinCEN (a financial crime enforcement agency under the U.S. Department of the Treasury), which means that Bexplus now provides compliant cryptocurrencies in 50 U.S. states Derivative products.

What is MSB?

The full name of MSB is Money Services Business. It is a financial license supervised and issued by FinCEN. The main subject of regulation is businesses and companies related to currency services, including cryptocurrency transactions, foreign exchange, international remittances, and other businesses.

In March 2018, the U.S. Department of the Treasury and the Securities Regulatory Commission clearly emphasized that cryptocurrency exchanges and their managers engaged in digital asset-related businesses in the United States must register for MSB licenses in FinCEN.

In other words, in order to conduct digital currency-related businesses in the United States, you must have an MSB license.

The MSB license is also a standard license for international cryptocurrency trading institutions. At present, first-line platforms such as Coinbase, Bitfinex, Poloniex, and Huobi all hold this license to operate. Therefore, the global compliance of Bexplus has been further improved.

In the future, Bexplus will continue to carry out compliance work on a global scale, accept global supervision, become the benchmark platform for international operations in the industry, and provide global users with more professional, safe, and compliant cryptocurrency transaction services.

The consequence of using exchange’s lack of license

Bitcoin, which came out in 2009, has skyrocketed by more than 5 million times in just eight years. The continued enthusiasm of Bitcoin has allowed criminals at home and abroad to capture people’s psychology of getting rich quickly and use the concept of virtual currency to concoct various MLM scams.

Some bitcoin trading sites will disappear directly after you put bitcoin into the platform, other trading platforms without a license will even steal the bitcoins in your wallet. After that, their website will no longer exist, and traders have nowhere to protect their rights.

There are too many traps in the market, people will fall into the trap if they are not careful. Therefore, the first step to choose a formal trading platform is to check whether it has an MSB license or not. If it does not have a license, transactions in this platform will be risky since traders would not have government protection.

Legal digital currency futures exchange- Bexplus!

Bexplus is a leading crypto derivatives platform offering 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts. Headquartered in Hong Kong, Bexplus is trusted by over 100K. Bexplus traders around the world, including the USA, Japan, Korea, and Iran. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support.

Bexplus – Recommended Leverage Trading Platform

Features:

1)No KYC
2)Trading simulator
3)Interest-bearing wallet : up to 21% APY
4)High liquidity
5)100% deposit bonus
6)Mobile support
7)24/7 customer support

What can I do with the bonus?

The bonus cannot be withdrawn, but you can use it to open more orders and increase your position. The profit earned with dividends is extractable.

If you are prepared to accumulate more BTC.

Join Bexplus and claim your bonus now!

Micky News

Finance, cryptocurrency and blockchain news - created by Australians, for the world.

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Micky News

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