In August 2022, the international cryptocurrency exchange BITEMU obtained the US MSB financial license and went online at the same time. BITEMU has obtained the US MSB license, which is another honor for the BITEMU digital asset platform. The MSB license is a sign of the legal operation of digital assets, and it also represents that the BITEMU digital asset exchange will move towards a more brilliant development journey in the future.
The full name of MSB is Money Services Business. The US MSB license is a financial license supervised and issued by Fincen (Financial Crimes Enforcement Agency under the US Treasury Department). It is aimed at money service businesses and companies in the United States, including digital currency and virtual currency transactions, ICO issuance, and foreign exchange, remittance and other businesses. Companies with related businesses must apply for an MSB license in order to operate in compliance. It is possible to legally conduct currency transactions and fiat currency transactions to prove that the exchange operates in compliance with laws and regulations, avoid risks, and make investors more confident.
The license is one of the important compliance documents for the platform. Equivalent to a business license, obtaining an MSB license in the United States also means that BITEMU can reasonably conduct business in various states in the United States. This is also the reason why major platforms have begun to apply for MSB licenses. If you are doing business in a formal and legal way, you must apply for a license.
BITEMU is an international digital asset financial service platform with more than 4,000 media cooperation resources covering the world. It is the fastest growing global station in the world in 2022. BITEMU adheres to the principle of “customer first”, and is committed to creating a digital financial service platform with good customer experience, many new investment users, and a safe and stable technical architecture.
BITEMU Exchange has obtained the US MSB trading license, which demonstrates BITEMU’s forward-looking strategic layout. Since 2018, the BITEMU exchange team has made a global strategic layout around compliance. The BITEMU exchange will serve millions of blockchain investors around the world. According to official news, after obtaining the MSB license in the United States, BITEMU exchange has submitted applications for review of other financial licenses to financial regulators in many countries and regions.
Advantages of MSB License
1. Investor recognition – American corporate law and financial industry supervision are very complete. Having a US license will make your digital currency trading platform more recognized by global investors.
2. Obtaining authoritative approval – Obtaining authoritative approval from the US Treasury Department can carry out relevant business in the United States and around the world, representing the compliance supervision of digital currency platforms.
3. Become a first-line platform – MSB license is also a standard license for global digital currency trading institutions. Huobi, ok, Binance and other platforms all hold this license to operate.
4. Service diversification – MSB license allows currency exchange and sending services, allowing you to better meet customer needs and provide more diversified services.
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