Cryptocurrency exchange Bitget reaches next milestone in its expansion to the US market after completing the registration with the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
Bitget has received an MSB Cryptocurrency Trading License, which will enable the company to enter into the US market. The Singapore-based cryptocurrency exchange, which is available on the web or a mobile app, enables consumers to trade multiple cryptocurrencies.
In a statement announcing he licence, the company said, “In the future, Bitget will continue to carry out compliance work globally, embrace global supervision, and become a benchmarking platform for international operations in the industry and provide a safe, fair and comfortable trading ecosystem for all investors!”
While the company has registered with FinCEN, the regulatory said, “The inclusion of a business on the MSB Registrant Search Web page is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency.”
Last year, FinCEN issued guidance on virtual currency regulatory requirements, In its ‘Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currencies (CVC)’, the regulator offers assistance for financial institutions identifying and reporting suspicious activity with cryptocurrencies.
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