London-based cryptocurrency exchange CEX.IO has received the "in-principle" status from The Gibraltar Financial Services Commission (GFSC), states the official press release, which was shared with iHodl.
The DLT license is reportedly only issued to companies that demonstrate required standards for corporate governance, risk management, adequacy of resources, sustainability of the business model, protection of client assets, and prevention of financial crime, highlights the report.
The Head of CEX.IO, Oleksandr Lutskevych, notes Gibraltar is one of "the first crypto-friendly jurisdictions to license crypto-related businesses."
"We’re proud to be among the very few crypto platforms to meet regulatory standards and even surpass them," he added.
In 2015, CEX.IO registered as an MSB (Money Services Business) with the US FinCEN, and its adherence to high standards of compliance procedures has been annually verified by an independent auditor.
Previously, CEX.IO received PCI DSS Level 1 certification after an annual audit.
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