Latin American Crypto Exchange Bitso Clears Regulatory Hurdle
Bitso, Latin America’s first cryptocurrency exchange, said Tuesday it secured international licensing, allowing it to operate under a regulatory framework that guarantees consumer protections.
This announcement comes as the Gibraltar Financial Services Commission, a regulatory body, will permit Bitso to transparently conduct anti-illicit transactions under principles of integrity, risk mitigation and honesty.
Bitso also plans to divide itself into two entities, one operating from Gibraltar, and another in Mexico, as the exchange is waiting to be recognized as a certified Mexican fintech. Still, the receiving of a Distributed Ledger Technology Regulatory Framework license is big news as regulation has improved growth prospects for the exchange.
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