BitYard is pleased to announce that we have received an MSB Cryptocurrency Trading License on Nov 11th 2019 from FinCEN, the Financial Crimes Enforcement Agency which is part of the U.S. Treasury Department.
The America MSB (Money Services Business) license is regulated and issued by FinCEN. The main objects are the supervision and licensing of businesses and companies related to money services. The scope includes international remittance, foreign currency exchange, currency transaction/transfer (including digital currency/virtual currency), providing prepaid items, issuing traveler’s cheque and other services. Companies engaged in the above-related businesses must apply for an MSB license before they can operate legally.
At present, only a few global exchanges have this license, such as Coinbase, Bitfinex, Poloniex and Huobi Global.
In the future, BitYard will continue to carry out compliance work globally, embrace global supervision, and become a benchmarking platform for international operations in the industry and provide a safe, fair and comfortable trading ecosystem for all investors!