Cryptocurrency exchange CEX.IO has extended its scope in the US and is now compliant in 31 US jurisdictions.
Following the launch of its US office of on July 4 CEX.IO said its regulatory compliance team “has been tirelessly working” to pass all regulations.
“Our mission is to become fully approved and regularly audited license holders, while facilitating CEX.IO’s US growth under a transparent and regulated umbrella,” said Alexander Kravets, CEO, CEX.IOUS.
“Within less than a month, we’ve managed to collect MTLs in seven more states, and we’re not stopping here. The goal is to cover all 50 states and roll out new products uniquely tailored to each.”
The cryptocurrency exchange now possesses licenses in 15 states: Alaska, Florida, Georgia, Iowa, Kansas, Maryland, New Hampshire, New Jersey, New Mexico, Oklahoma, Oregon, Rhode Island, South Dakota, Vermont, and West Virginia.
Furthermore it also operates in 16 states that do not require special licensing: Arkansas, California, Colorado, Indiana, Kentucky, Massachusetts, Michigan, Missouri, Montana, Mississippi, North Dakota, Pennsylvania, Utah, Virginia, Wisconsin, Wyoming.
Oleksandr Lutskevych, CEO and founder, CEX.IO, explained: “For any crypto-related business, receiving all the required licenses has to be the top priority.
“We are thoroughly working in each and every market to apply for and receive all the necessary licenses, comply with AML requirements, establish partnerships with local payment processors and banks, and cooperate with regulators in order to drive crypto adoption.
“It takes lots of time and resources, but we are successfully building a solid foundation as a trustworthy platform for customers from all over the world who want to work with digital assets in a legal, transparent way.”
As for the firm focuses on its US expansion, CEX.IO has also found success in other markets having recently received a distributed ledger technology (DLT) license issued by the Gibraltar Financial Services Commission (GFSC).