CBASOX Exchange has announced the successful renewal of its Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN) of the United States. This renewal extends the license validity until January 9, 2027, following its initial acquisition in 2021.
The initial acquisition of the FinCEN MSB license in 2021 marked the formal entry of CBASOX into the US market, demonstrating compliance with stringent American financial regulations. The successful renewal of this license not only extends the operations of CBASOX in the US but also signifies further recognition from regulatory authorities regarding the operational and compliance frameworks of the platform.
Significance for Users
The renewal of the MSB license signifies a substantial vote of confidence from regulatory authorities in the operational and compliance framework of CBASOX. It sends a clear message to global users that CBASOX is a secure, reliable, and internationally compliant trading platform.
The robust security measures of CBASOX, including excess reserve funds and the use of Merkle tree technology coupled with external audits, further enhance the security and transparency of the platform, providing a safer and more trustworthy trading environment for users.
“We are proud of the successful renewal of our FinCEN MSB license, which validates the long-term commitment of CBASOX to providing secure and compliant trading services,” said Hart Montgomery, a member of the CBASOX team. “Compliance operations and the security of user assets are fundamental to the survival and growth of our platform. We will continue to work closely with global regulatory bodies, constantly improving our service quality and security standards to offer users the best trading experience.”
As a globally recognized cryptocurrency exchange, CBASOX strives to maintain its industry-leading position in technology and service, while also setting benchmarks in compliance and security. Moving forward, CBASOX is committed to fostering the healthy development of the cryptocurrency industry, providing safer and more convenient digital asset trading services to users worldwide.
About CBASOX
CBASOX is a globally leading digital currency trading platform, offering a diverse range of cryptocurrency services including spot trading, options trading, and financial products. Since its establishment, CBASOX has been dedicated to providing a secure, efficient, and convenient trading experience, ensuring platform stability and user asset security through continuous technological innovation and stringent security measures. Through close cooperation with global regulatory bodies, CBASOX has established itself as a responsible and trustworthy exchange in the industry.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: CBASOX DIGITAL TRADE LIMITED
Contact Person: Kim Min-su
Email: Send Email
Country: United States
Website: https://www.cbasox.org
