Blockchain
ZUHYX Obtains US MSB License, Setting the Highest Compliance Standards
ZUHYX, a leading global cryptocurrency exchange, has announced the approval of its application for the Money Services Business (MSB) financial license by the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury. This milestone represents a significant achievement in ZUHYX’s efforts towards compliance and global expansion, enabling the platform to operate its business within the United States under stringent security and compliance regulations.
Key Milestone for Compliance and Security
The acquisition of the MSB license is a testament to ZUHYX’s commitment to adhering to international standards for user privacy and fund security. This license allows ZUHYX to offer its services in the US market, ensuring that it meets the high regulatory standards required for financial operations. The platform has established a comprehensive internal compliance management system and robust risk control measures, including strict KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols. These measures are critical in preventing illegal fund infiltration and enhancing transaction transparency.
Enhancing Global User Trust and Experience
The ZUHYX team emphasized their dedication to compliance principles and continuous improvement of security measures. The platform’s compliance with international standards not only boosts user confidence but also enhances the overall user experience. By providing comprehensive trading support and high-quality customer service, ZUHYX aims to cater to its growing global user base, which sees millions of new active users annually.
Strategic Expansion in North America and Beyond
With the MSB license, ZUHYX strengthens its compliance foundation in the North American market, laying a solid groundwork for further global business development. The platform’s strategy includes localized operations tailored to different markets, expanding service languages, developing new products, engaging with the community, and collaborating with institutions. These efforts aim to maximize user experience and ensure continuous growth and trust in the cryptocurrency industry.
Future Prospects and Global Cooperation
The successful acquisition of the US MSB license is a new milestone in ZUHYX’s global expansion journey. The company plans to continue adhering to international financial standards, strengthening cooperation with global regulatory authorities, and ensuring ongoing compliance in a dynamic global financial environment. ZUHYX’s future endeavors will focus on providing a safe and reliable trading experience for global users while driving the cryptocurrency industry forward.
The approval of the US MSB financial license marks a significant step for ZUHYX in its mission to enhance global compliance and user security. This achievement underscores the platform’s commitment to maintaining high standards of security, transparency, and user experience as it continues to expand its footprint in the global cryptocurrency market.
Source: sg.finance.yahoo.com
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The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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