Ethereum 

Japan Grants Crypto Exchange License to Messaging Giant LINE

LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE, has obtained a crypto exchange operating license from Japan’s financial regulator. The news was reported by Cointelegraph Japan on Sept 6. Trading for 5 major cryptocurrencies As previously reported, LVC Corp.’s trading platform, to be dubbed BITMAX, will enable Line’s 80 million users in Japan to buy and sell multiple major cryptocurrencies. According to CT Japan, the FSA has authorized the trading of Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and XRP on the platform.…

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Bitcoin 

Estonia Grants Crypto Trading and Custody License to WEG Bank

German bank WEG Bank obtained a cryptocurrency trading and custody in Estonia. WEG Bank confirmed in a tweet published on Aug. 25 that it obtained a crypto trading and custody license in Estonia.  Estonia greenlights German bank to trade and hold crypto Furthermore, the firm also announced that it is now trying to take hold of a securities trading and custody license in Germany. The bank stated: “We announce that as of today we have secured full access to a crypto trading and custody license in Estonia and are equally…

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Ethereum 

Crypto Payment Firm Everex Obtains License From New Jersey Regulators

Stablecoin-based settlement platform Everex has obtained a full Money Transmitter License from a New Jersey regulator, allowing the company to test services in the United States. In a press release shared with Cointelegraph on Aug. 19, Everex revealed that the New Jersey Department of Banking and Insurance issued the company a full Money Transmitter License as of Aug. 13. Big plans on U.S. expansion The license reportedly authorizes Everex to conduct activities such as peer-to-peer (p2p) cryptocurrency to fiat exchange, including with U.S.-based exchanges. Everex will also be able to…

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Bitcoin 

Gibraltar Grants First Crypto Derivatives License to Local Exchange

Gibraltar-based crypto derivatives exchange Quedex has secured a license from the Gibraltar Financial Services Commission (GFSC). Quedex claims to be the world’s first regulated crypto futures and options exchange Quedex was granted a Distributed Ledger Technology (DLT) Providers licence for providing services of trading crypto derivatives such as Bitcoin (BTC) futures, as well as crypto custodial services, the firm said in a blog post on July 31. Following the license acquisition, Quedex reportedly became the world’s first regulated crypto futures and options exchange, the firm stressed in the announcement. In…

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Cryptocurrency 

Swiss Crypto Finance App Gains Nationally Recognized AML License

Cryptocurrency-focused personal finance app Aximetria has gained a financial standards license recognized by Swiss regulators. In a press release provided to Cointelegraph July 29, Aximetria, which is based in the country, said the Swiss Financial Services Standards Association (VQF) license would allow it to function as a crypto intermediary and streamline its onboarding process. The VQF license is approved by Switzerland’s overarching finance regulator, the Financial Market Supervisory Authority (FINMA). An award means the holder carries out activities in compliance with the organization’s anti-money laundering (AML) and Know-your-Customer (KYC) rules. …

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Bitcoin 

Crypto Businesses will Require a BaFin License Next Year

Starting next year, new Anti-Money Laundering (AML) regulations will require German cryptocurrency businesses to hold a Federal Financial Supervisory Authority (BaFin)-issued license, Cointelegraph Deutschland reported on July 24. Possible innovation obstruction Per the report, the new regulations will require cryptocurrency-related businesses such as exchanges and wallet providers to be licensed by BaFin and comply with AML regulation, since crypto assets will be considered a financial instrument starting on January 1, 2020. According to local media FAZ, Bundestag Free Democratic Party Frank member Schäffler commented suggesting that the government is hurting…

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Cryptocurrency 

New York Regulators Designate New Division to License Crypto Businesses

The New York Department of Financial Services (NYDFS), the state’s financial regulator, has established a new department that will be responsible for licensing and regulating crypto-related businesses. In a statement on July 23, the NYDFS announced the formation of the Research and Innovation Division which will “house the Department’s division responsible for licensing and supervising virtual currencies, and it will assess new efforts to use technology to address financial exclusion.” The NYDFS requires that businesses involved in the issuance and trade of digital assets receive a special type of registration…

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Cryptocurrency 

Suspected Crypto Ponzi Scheme Has No License In Malta, Regulator Warns

Malta’s finance regulator has issued a public warning about a cryptocurrency company falsely claiming it is licensed to operate in the country.  ‘Built on the power of the Middle East’ In a statement July 23, the Malta Financial Services Authority (MFSA) warned residents they should avoid Emirate Coin Tech, which offers cryptocurrency investment options with alleged weekly payouts of up to 25%. “The MFSA wishes to alert the public, in Malta and abroad, that Emirate Coin Tech is NOT a Maltese registered Company NOR licenced or otherwise authorised by the…

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Ethereum 

Fidelity’s Crypto Branch Files for a New York Trust License: Report

Fidelity’s crypto arm Fidelity Digital Assets Services (FDAS) has applied for a license to operate as a trust in New York State. FDAS has filed an application with the New York Department of Financial Services (NYDFS) for a trust license, crypto media outlet The Block reported on July 20, citing several unnamed sources familiar with the matter. If the license is approved, FDAS will officially be allowed to offer its crypto custodial services in the state of New York, operating as a Limited Purpose Trust Company, the report notes. In…

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