Cryptocurrency exchange Bitstamp has announced the relocation from London to Luxembourg in order "to comply with regulatory requirements and improve operational efficiency," Trustnodes has learned, citing an email from the exchange.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
One of the oldest cryptocurrency exchanges says it is also migrating the clients accounts from Bitstamp Limited to Bitstamp Europe SA.
"Once this process is finished, your account will be subject to Bitstamp Europe SA’s Terms of Use and our updated Privacy Policy. For more details, please review the full documents," the exchange said in the email.
Bitstamp's decision to leave London comes after the US-based cryptocurrency exchange Gemini received an approval from the UK's Financial Conduct Authority (FCA).
Trustnodes claims the reason is in "the increasing chance of a no deal Brexit with EU’s negotiator Michel Barnier."
Barnier previously expressed an opinion that "an agreement between the UK and EU seems unlikely."
Earlier, iHodl reported that Bitstamp will add support for the pound sterling.
All the exchange's fiat and cryptocurrencies will get an additional GBP pair, with zero trading fees through 1 September 2020, including USD, EUR and BTC.
If you are looking for a crypto trading platform to trade your assets, visit Gozo.pro, a safe and reliable exchange.