New York, Dec. 28, 2023 (GLOBE NEWSWIRE) — Recently, the cryptocurrency trading platform BISSNEX released its global market strategy plan, adapting to the latest regulatory policies of major countries and regions worldwide. They plan to timely adjust their localization strategies to better operate globally and provide borderless digital asset services to more investors.
As blockchain and crypto technologies rapidly develop, many countries have established related policies and regulations. Meaningful regulation is vital for the industry’s long-term development. Excessive regulation can stifle innovation and vitality, but a lack of regulation can make the market uncontrollable and risks hard to quantify. BISSNEX prefers to operate in a market that balances freedom with regulation, actively embracing a more diversified Web3.
On a global compliance level, BISSNEX’s achievements deserve respect and admiration. They have already obtained the MSB license from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), a milestone that not only showcases BISSNEX’s influence in the global crypto field but also marks its ability to provide a safe and reliable digital asset trading environment.
FINTRAC, an independent agency under the Canadian Department of Finance, is primarily responsible for regulating and managing anti-money laundering (AML) and counter-terrorism financing (CTF) activities in the financial system, maintaining financial order stability. Receiving their MSB license means BISSNEX is legally regulated and operates compliantly, also providing ample advantages for its long-term development.
Financial regulatory authorities work to protect local economies and financial systems from being used for money laundering, smuggling, terrorist financing, and other illegal activities. They achieve this goal by collecting, analyzing, and reporting information related to financial transactions.
In different regions globally, local crypto regulatory policies often vary, posing higher demands for an international crypto trading platform. As a money service business, BISSNEX will complete necessary trade and property reports during its global expansion, submitting them to financial regulatory authorities. These reports are considered important references for analyzing the platform’s trading capabilities, allowing regulatory authorities to disclose the platform’s financial intelligence to law enforcement agencies and third parties during the review process.
The approval process for different countries’ financial licenses is strictly conducted according to local rules, including comprehensive reviews of the platform’s security, privacy protection, and transaction transparency. BISSNEX has always maintained stringent standards in this regard to ensure the maximum protection of users’ digital assets.
For BISSNEX, having already passed the compliance review by the Canadian government and met strict legal standards, users need not worry about compliance issues when using BISSNEX. Of course, they hope for more progress in this area to demonstrate substantial breakthroughs in legality and compliance. Additionally, more financial license permissions will provide BISSNEX with broader business expansion opportunities globally, promoting the healthy development of the platform’s ecosystem.
In the future, BISSNEX will continue to strengthen cooperation with global regulatory bodies, actively participate in setting industry standards, and contribute uniquely to the development of the digital asset trading field. BISSNEX will also continually refine its compliance system, safeguarding user rights and providing higher quality services.
CONTACT: support@bissnex.com
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