Singapore, October 8th, 2024 – Bitunix, one of the fastest-growing cryptocurrency exchanges in the world, reinforced its compliance framework in collaboration with leading legal and regulatory authorities worldwide by getting multiple licences since its official launch in October 2022. These efforts reflect the exchange’s dedication to providing users with a safe and legally compliant trading environment, no matter where they are located.
Bitunix Gains Approval from Global Financial Regulators
Operating in more than 100 countries Bitunix puts user security and regulatory compliance as the highest priorities. Miscalculations and wrong steps in legal terms have caused problems for many exchanges and uncertainty among users. According to the Financial Action Task Force (FATF), Licensing is vital for cryptocurrency exchanges as it ensures regulatory compliance, enhances user trust, and contributes to market stability. Understanding this, Bitunix has taken concrete steps in this direction by securing some of the most important licenses in several countries.
Bitunix is now equipped with the U.S. Money Services Business (MSB) license which marks the highest achievement in terms of compliance. Having this license means that anyone living in the United States can use Bitunix as their exchange safely.
Furthermore, Bitunix has obtained the Virtual Asset Service Provider (VASP) license in the Philippines and has also obtained the Canadian MSB (Money Services Business) license which makes the use of the platform completely safe for both users in these two regions.
All these licenses are issued by the authorities responsible for regulating the financial and virtual asset service providers in their respective countries. In fact, the company is currently in the process of securing additional key licenses across several crucial markets. These approvals, once finalized, will position the firm as a regulatory leader and could soon become a talking point in important regions for the industry.
These license obtainments come in the wake of the efforts that Bitunix is making in 2024 to ensure a safe experience, and the best possible for users in general. Furthermore, these measures prove how seriously the platform takes the legal aspect of operation and its practical operation at the global level.
According to a report from Atlantis Council as of 2024, 33 of the 60 countries analyzed have fully legalized cryptocurrency operations, including licensing requirements for crypto exchanges. Therefore, Bitunix is aligning with these legal standards to ensure a safe and secure experience for its users.
About Bitunix
Bitunix is a global cryptocurrency derivatives exchange founded in 2021, committed to offering simple, secure, transparent, and cost-effective trading services to its users. Bitunix specializes in both spot trading and perpetual futures, with over 250 trading pairs and leverage of up to 125x.
With features such as top-tier liquidity, 24/7 customer support, and a strong commitment to regulatory compliance, Bitunix remains at the forefront of providing a reliable trading experience for the global crypto community. Bitunix has attracted more than 1,000,000 users from over 100 countries, facilitating a daily trading volume exceeding $1 billion on its platform.