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BitVito, a new crypto exchange, announces its compliance path and will be launching soon

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BitVito, a new crypto exchange, announces its compliance path and will be launching soon

December 20
22:06 2021

Denver, Colorado – BitVito is a new crypto exchange developed by an international team of long-term crypto enthusiasts, focused on security, convenience, and compliance. The platform will be launching soon to provide customers with crypto trading and management services. The platform provides access to the global crypto trading markets providing safe, convenient, and fair blockchain asset trading services for local users, with risk controls to protect the security of users’ transaction information and assets.

BitVito has released its compliance path, with a presence in developed and regulated countries such as the United States, Canada, and Australia. BitVito firmly believes that compliance operations are the foundation for long-term success.

BitVito operates in the Financial Services Industry and has satisfied the legal requirements to register in various regions around the world; with an MSB from USA, MSB from Canada, and registered as a Digital Currency Exchange or DCE in Australia. BitVito is also governed by corporate law in these countries.

In the USA, Money Services Business (MSB), is set up by the US Treasury agency (financial crime law enforcement bureau) providing oversight and supervision in financial services. They are the main regulator for financial services market participants, including the crypto, virtual currency trading, ICO issuance, foreign exchange and international remittance providers.

MSB or Money Services Business in Canada, governs Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF). The Canadian regulator is the Canada Centre for Financial Transactions and Reporting Analysis (FINTRAC), and in addition to regulating the industry, FINTRAC receives regular reports from licensed MSB agencies and publishes updated industry regulations for the industry.

Australian Financial Licence: The Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian financial intelligence arm. Founded in 1989 to help fight money laundering. All licensed financial institutions have a specific system that the AUSTRAC must follow when creating accounts for new customers. Before implementing these procedures, businesses should thoroughly follow the KYC protocol and CDD procedures. In addition, they should take a risk-based assessment of any suspicious situation, immediately reporting any suspicious activities, with ongoing monitoring of client accounts.

With the advancement of financial innovation and awareness, Investors and Traders are increasingly turning their attention to the field of crypto. Throughout the various crypto-cycles of the last decade, retail exposure to crypto-currencies has garnered widespread mainstream attention, with many well-known currencies, tokens and protocols gaining popularity.

The crypto space is a fast-moving landscape with liquidity migrating through the evolving trends. 2021 commenced with a highlighted focus on DeFi, which then moved through NFT’s followed by Metaverse and Play to Earn gaming.

DeFi has continued to expand, with many exchanges both centralised and decentralised capitalising on the trend. Currently, the currency trading arena exhibits a stable rising trend. E.g. Institutional entities continue to increase their holdings of BTC on their balance sheets, which has assisted in the rise in price of various crypto-currencies.

Many consumers are paying more attention to the security of digital asset trading platforms and Crypto exchanges serve as the primary on-ramp for consumers to engage in their own digital financial management, therefore the need for security and convenience is becoming increasingly important.

Competition in the crypto exchange space is fierce, which has forced the overall industry to develop quickly and enhance the user experience. This speedy development has exposed various security vulnerabilities, like we have witnessed this year when certain exchanges suffered DDos attacks, leading to exchange service outage, frequent price fluctuations and in some instances even client losses.

In the line of crypto exchange security defence, BitVito has proudly set sail.

BitVito Exchange adheres to the development concept of “security, transparency, efficiency and compliance”, and officially enters the global market soon, providing crypto financial and management services.

The BitVito exchange presents high security and high efficiency. The platform has robust security prevention and control mechanisms, adhering to internal end-to-end compliance systems and processes, protecting your asset management and transaction security in a multi-faceted way.

Incorporating the independently developed lightning matching engine, BitVito presents users with the ultimate trading experience, supporting high-frequency trading of various digital products, real-time audit, liquidation features, risk management and other functions, to provide users with a high-performance system, ensuring efficient and convenient digital financial management.

BitVito Exchange aims to provide users with the ultimate trading experience through its own innovation, creating a multi-dimensional and integrated eco-system, with user focus and products at its core.

Stay tuned with BitVito.

BitVito official websites: https://www.bitvito.com/#/

Media Contact
Company Name: Vito & Vita Technology Limited
Contact Person: Hayden Bell
Email: Send Email
Country: United States
Website: https://www.bitvito.com/#/

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