BFIC was founded by Michael Clement Lyle, was officially approved by the US federal government in December 2021, and is headquartered in New York.
The BFIC community will help manage the affairs and privileged affairs of the BFIC Open Source Community Project by developing a good governance structure. The BFIC consists of an ecology center, a technology development center, a marketing center and a daily management center.
BFIC is a decentralized financial coin based on third generation blockchain technology and backed by a large utility-based ecosystem. BficCoin will become a new competitor in the market.
BFIC’s goal is to use DeFi Yield Farming to build a safe and stable trading system that keeps the decentralized cryptocurrency BficSwap for BficCoin holders and services.
At the same time, BFIC was approved by FINCEN (Financial Crimes Enforcement Bureau of the US Treasury Department) to apply for an MSB (Money Services Business) financial license. MSB primarily regulates monetary services and corporations, and this approval means that BFIC can commence legal and compliant operations in all 50 US states, including international money transfers, foreign exchange, foreign exchange trading / transfers (including digital currency / virtual currency). and other businesses.
In March 2018, the U.S. Treasury Department and the SEC made clear that MSB financial licenses must be registered with FinCEN in order to conduct digital asset-related businesses within the United States.