Okcoin said it had secured formal registration from the central bank in the Netherlands and secured ‘in principle’ approval for a virtual financial assets license from the Malta Financial Services Authority. In addition, the exchange has obtained a money transmitter license for the US territory of Puerto Rico.
The regulatory benchmarks in Europe are part of Okcoin’s plans to partner with local banks and payment providers to minimize regulation risks and make it easier for customers to purchase crypto with EUR. The exchange has been providing Dutch residents with crypto-to-crypto trading since 2018 and registered with the country’s central bank as a crypto service provider in May 2020.
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