BingX becomes officially regulated exchange in the United States and Canada
BingX social trading platform is now officially regulated by US and Canadian controllers
The BingX cryptocurrency social trading platform has received official approval from US and Canadian regulators to operate as a regulated Money Service Business exchange in both jurisdictions.
BingX is now official
BingX looks forward to operating while fully compliant with the regulatory practices of both countries and distributing its product around the world. Successful legalization in the US and Canada is an important milestone for the exchange, which can now enter mainstream markets as a fully compliant institution.
According to the press release, BingX has actively worked to obtain licenses to operate in such complex regulatory ecosystems. After being recognized in those countries as legal financial institutions, BingX will secure its future growth and a high level of security for assets with which users trust the exchange.
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At present, BingX US Limited is registered as a money service company and is regulated by the Financial Crimes Enforcement Network and the US Treasury Department, which has authorized it to engage in FX business.
The Canadian company behind the exchange is registered as a money service company under the regulation of the Financial Transactions and Reports Analysis Center of Canada in both FX Dealing and working with digital assets.
Plans for the future
After becoming an official MSB, the exchange is able to offer numerous compliant financial products and services while being regulated by the governance structure in both the United States and Canada.
According to Global Communications Manager at BingX, Elvisco Carrington, the US and Canada are major markets that will bring many benefits to BingX on many levels. But the most important thing is the number of potential customers that the platform will be able to reach in both markets.
At the same time, BingX will continue to maintain strict compliance and regulatory standards for new products and services in other countries. The company’s priority still remains to build a safe and secure trading platform.
BingX is a global marketplace and is trusted by numerous investors around the world. The platform is currently working on further adoption in more countries while being fully compliant with local laws and regulations.