One of the critical features of the cryptocurrency market that attracts so many users is the decentralization mechanism that makes the crypto world available to the masses. However, this is a double-edged sword when it comes to compliance set-ups that correspond with regulatory requirements. Therefore, compliance is a word no one in the industry can avoid. Especially with the recent surge of bitcoin's price and the rally of other altcoins, the cryptocurrency market is getting more and more attention from the authorities. BitMart, a global digital assets trading platform, is determined to build its compliance infrastructure in the most cautious way to offer premier services to its customers continuously.
BitMart’s commitment to compliance started from day 1. Since its establishment in 2017 and the kickoff of the trading platform in 2018, it has been engaging a team of licensed attorneys to step into its daily operation and build tailor-made legal and compliance controls from scratch. In 2018, BitMart was registered as a federal-level Money Services Business (MSB) with the Financial Crimes Enforcement Bureau (FinCEN) under the U.S. Department of the Treasury. Since then, BitMart has been obtaining state-level Money Transmitter Licenses with several states in the U.S. In addition, BitMart has also reached out internationally to governmental authorities in Hong Kong, Estonia, and Germany to discuss its licensing efforts, aiming to achieve a fully compliant way of operation.
The compliance status of an exchange is the cornerstone for its long-term development. Taking compliance as one of our top priorities, we hope to secure a bright future not only for cryptocurrencies and the industry but also for all crypto enthusiasts.
BitMart Exchange is a premier global digital assets trading platform with over 2.5 million users worldwide and ranked among the top crypto exchanges on CoinMarketCap. BitMart currently offers 400+ trading pairs with one of the lowest trading fees in the market. To learn more about BitMart, visit their website, follow their Twitter, or join their Telegram for more updated news and promotions. Download BitMart App to trade anytime, anywhere.