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The MTR Licence, which was obtained from the Ministry of Economic Affairs and Communication of Estonia serves as a license for both digital currency and digital wallet. Estonia has been one of the cryptocurrency superpowers for many years. This license is not taken lightly in the cryptocurrency community and therefore does not only provide a necessary regulatory framework for the exchange but also can lead to a boost in confidence for the users of Bingbon.
MTR Official Enquiry: https://mtr.mkm.ee/ Bingbon Registration Number: 14789250
Another type of license that Bingbon has successfully obtained is a FINTRAC MSB, a Canadian license issued by FINTRAC, Canada’s financial intelligence unit. The role of this institution is to help detect and prevent any possible money laundering or financing of terrorist activities, which is in many cases done through cryptocurrencies. A license of this type reassures users that the cryptocurrency exchange does everything in its power to prevent illicit activities and undertakings. For more details about this license, please click this link and enter Bingbon in the search bar.
What licenses mean for cryptocurrency exchange such as Bingbon
As portrayed in this article, licenses serve several purposes for Bingbon. Some of them allow the cryptocurrency exchange to operate in a specific region, others make sure that the funds on the platform are not used in connection to terrorism or illicit activities.
For the most part, however, these licenses provide protection for customers and can lead to an increase in confidence in the exchange, which is a key in the cryptocurrency space. That is also one of the reasons why Bingbon is doing so much when it comes to safety and regulatory compliance. In that way, Bingbon can reassure its clients that funds on the platform are safe and are well managed.
REIFF , N. (2019, 6 25). The Largest Cryptocurrency Hacks So Far. Retrieved from Investopedia: https://www.investopedia.com/news/largest-cryptocurrency-hacks-so-far-year/
MKM. (n.d.). Retrieved from Republic of Estonia Ministry of Economic Affairs and Communications: https://www.mkm.ee/en
Fintrac. (n.d.). Retrieved from MSB Canada: https://www10.fintrac-canafe.gc.ca/msb-esm/public/msb-search/name-search-results/7b227072696d617279536561726368223a7b226f72674e616d65223a2262696e67626f6e222c2273656172636854797065223a317d7d/