- The US and Canada have approved BingX as an MSB.
- The Global Communications Manager at BingX takes pride in the developments but promises to maintain high standards.
- BingX’s new licenses mark a major milestone for the crypto platform.
The United States and Canada have approved BingX to operate as a Money Service Business (MSB) exchange under regulatory control. The social crypto platform, BingX US Limited is now registered as an MSB under the Financial Crimes Enforcement Network (FinCEN) of the US Department of Treasury. The US Department of Treasury has approved it to engage in FX activities.
Meanwhile, BingX CA Limited is registered as an MSB under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in FX Dealing and Dealing in Virtual Currencies. The Global Communications Manager at BingX Elvisco Carrington spoke on the developments. He expressed his pride but also promised to maintain its high standards.
Without question, the US and Canada are huge markets and will be advantageous for BingX on many levels. Perhaps the greatest benefit is the simple fact that we can reach new users in both countries. Choosing a highly compliant trading platform is one of the most important decisions for users. As BingX pursues its global initiatives, it strives on and will continue to maintain strict compliance and regulatory standards over new products and services. Our priority is to build a high level of trust in the industry so users feel secure and safe using our trading platform.
Obtaining the United States and Canadian licenses marks a major milestone for BingX. This is because the financial markets of these developed countries contain strict and complex regulatory ecosystems.
The crypto platform will now be able to provide compliant products and services with government approval in both countries. As a result, BingX now enters mainstream markets as a fully compliant institution.