Bexplus has officially secured the MSB license under the guidance of the US regulatory agency FinCEN (Financial Crime Enforcement Agency under the U.S. Department of the Treasury) on March 30th, 2021 which means that Bexplus now provides compliant cryptocurrency derivatives products in 50 U.S. states.
The full name of MSB is Money Services Business. It is a financial license supervised and issued by FinCEN. The main subject of supervision is money service-related businesses and companies, including Cryptocurrency transactions, foreign exchange, international remittances, and other businesses. In March 2018, the U.S. Treasury Department 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 MSB licenses with FinCEN. In other words, to conduct digital currency-related businesses in the United States in compliance, an MSB license is essential.
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, global compliance with Bexplus has been further improved.
Bexplus will continue to carry out compliance work on a global scale, embrace global supervision, become a benchmark platform for international operations in the industry, and provide global users with more professional, safe, and compliant cryptocurrency transaction services.
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