In December 2021, the internationally renowned exchange SCTCEX won the US MSB financial license and went online at the same time. The well-known digital currency exchange SCTCEX of the blockchain industry has won the US-MSB license. This is another honor for the SCTCEX digital asset platform. The MSB license is a sign of the legal operation of digital assets and also represents that SCTCEX’s digital asset exchange will embark on a more glorious development journey in the future.
Today in the United States, MSB digital currency license should be applied for most often for blockchain exchanges. MSB’s full name is Money Services Business. The US MSB license is a type of financial license that is overseen and issued by Fincen (the US Treasury Department’s Financial Crime Enforcement Bureau). The main objectives of oversight are money services companies and businesses, including digital currency, virtual forex trading, ICO issuance and forex, international remittance, etc. transactions. Companies doing the above related businesses in the United States must apply for an MSB license in order to operate legally.
The license is one of the platform’s important compliance documents. It is equivalent to a commercial license, especially since Huobi gradually won the Japanese license, the American license and, after applying for the Canadian license, the license was raised to a new level. Obtaining a US MSB license also means Huobi can do reasonably business in most of the US states. This is the reason why large platforms have started applying for licenses. If you want to do business formally and legally, you need to apply for licenses.
The acquisition of the US MSB trading license by the SCTCEX exchange shows its future-oriented strategic orientation. Since 2020, the SCTCEX exchange team has carried out a global strategic layout around compliance as a one-stop blockchain asset trading platform. The SCTCEX exchange will provide services to millions of blockchain investors from around the world. Currently, SCTCEX Exchange has obtained MSB licenses from the United States and many other countries. According to official sources, SCTCEX has filed applications for review of other financial licenses with financial regulators in many countries and regions.
Advantages of the MSB license
1. Recognition from Investors – American corporate law and supervision of the financial industry are very extensive. With a US license, your digital currency trading platform will be more recognized by global investors.
2. Get Authoritative Approval – Get authoritative approval from the US Treasury Department and you can conduct related business in the US and around the world which is the compliance oversight of the digital currency platform.
3. Become a first-line platform – The MSB license is also a standard license for global digital forex trading institutions. Huobi, ok, Binance Exchange and other platforms all have this operating license.
4. Diversified Services – The MSB license allows currency exchange and shipping services so that you can better meet customer needs and offer more diversified services.
Official SCTCEX website address: www.sctcex.com
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