Denver, Colorado, United States, 10th Jul 2024 - In a pivotal moment for the maturing and globalizing cryptocurrency industry, CBASOX Exchange recently announced that it has officially obtained the Money Services Business (MSB) license from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This follows its prior acquisition of the MSB license from the Financial Crimes Enforcement Network (FinCEN) of the US Treasury. This development makes CBASOX one of the few international cryptocurrency exchanges to hold both Canadian and US MSB licenses, further solidifying its leadership position in the global cryptocurrency market.
For CBASOX, obtaining the MSB licenses from both Canada and the United States is not only an international recognition of its compliance and security standards but also a significant endorsement of its business capabilities and brand reputation. These licenses enable CBASOX to offer more diverse, secure, and reliable cryptocurrency trading services to users in Canada and the US, adhering to stringent anti-money laundering (AML) and counter-terrorist financing (CFT) regulations.
Securing an MSB license is a complex and challenging process that requires exchanges to meet rigorous standards in business operations, risk management, and customer identity verification. Since its inception, CBASOX has prioritized compliance as a core aspect of its development, investing substantial resources and effort into building its compliance framework. By working closely with legal and compliance advisors, CBASOX has successfully created a transparent, secure, and compliant trading environment, providing users with a trustworthy cryptocurrency trading platform.
The acquisition of MSB licenses in both Canada and the US not only paves the way for the expansion of CBASOX in the North American market but also sets a benchmark for compliance in the global cryptocurrency industry. CBASOX stated, “In the face of the rapid development of the global cryptocurrency market, CBASOX remains committed to enhancing service quality, expanding business scope, and strengthening collaboration with global regulatory bodies. Our goal is to ensure that while we provide innovative services, we consistently adhere to the highest standards of compliance and security. Through ongoing efforts and innovation, we believe CBASOX can offer users safer, more convenient, and efficient cryptocurrency trading services, promoting the healthy development of the entire industry.”
About CBASOX
CBASOX is a leading international cryptocurrency trading platform dedicated to providing safe, efficient, and convenient cryptocurrency trading and financial services to users worldwide. Leveraging its robust technological capabilities and stringent compliance framework, CBASOX offers a comprehensive range of cryptocurrency trading solutions, including spot trading and contract trading, making it a trusted partner for cryptocurrency investors globally.
Organization: CBASOX DIGITAL TRADE LIMITED
Contact Person: Kim Min-su
Website: https://www.cbasox.org
Email: support@cbasox.org
City: Denver
State: Colorado
Country:United States
Release id:14077
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