Hong Kong based Crypto-Exchange Platform Gains Operating License in Estonia

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Hong Kong based Crypto-Exchange Platform Gains Operating License in Estonia

  • Coinex is now a legally regulated and licensed digital coin exchange platform in the country.
  • The Operating license allows Coinex to legally function in the country under the 2017 AML/CFT legislation through a well defined regulatory framework.
  • Estonia has always been a leading supporter of open and innovative cryptocurrency regulations, especially in the European Union.

Coinex is now a legally regulated and licensed digital coin exchange platform in the country. Global trading service provider Coinex announced receiving Operating License from the Financial Intelligence Unit of Estonia earlier today. Coinex is a recognized cryptocurrency exchange provider that operates in more than 100+ regions across the world.

The company is now fully regulated under Estonian law through the Virtual Currency Exchange Service License and the Virtual Currency Wallet Service License, which came into effect from November 2019. This paves the way for global recognition of the digital currency industry and increases the chances of obtaining permission to operate under the law in other countries as well. 

The Operating license allows Coinex to legally function in the country under the 2017 AML/CFT legislation through a well defined regulatory framework. It facilitates the exchanging of virtual currency against fiat currency along with an approval for virtual currency wallet service.

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Source: businesswire

The platform is now looking at an increasing number of users and transactions through high-quality projects regarding Smart Chain, and Privacy Chain functions.    

Estonia has always been a leading supporter of open and innovative cryptocurrency regulations, especially in the European Union. It has regarded cryptocurrency as “value represented in digital form” and thus worked towards creating extensive regulations on its operations.

As countries like the USA, India, and China now moved to legitimize and manage cryptocurrency exchanges, Estonia acts as an example of finding the balance between regulation and restriction.   

In 2017, the Hong-Kong based platform had a leading provider supporting coin exchange, margin trading, futures trading, options trading, and other derivatives trading. It is further well-known for its fast transactions, global orientation, and high-speed matching engine.

Its safety features and easy availability in both android and iOS have contributed to its steady increase in importance. It is a subsidiary of the ViaBTC group and conducts operations in various languages across the world.

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