CoinEx Triumphs with VASP License Acquisition in Poland Amidst US & Canada Legal Hurdles: A New Era for the Crypto Exchange (CoinEx)


CoinEx secures VASP license in Poland after legal issues in US and Canada

Global cryptocurrency exchange, CoinEx, has secured a Virtual Assets Service Provider (VASP) license in Poland. This comes after the firm faced legal challenges in the US and Canada, resulting in shutdowns and hefty fines.

CoinEx, a global cryptocurrency exchange, secures a VASP license in Poland, marking a significant step in its European expansion strategy. This follows a series of legal issues in the US and Canada.

Legal Troubles in the US and Canada

In June 2023, CoinEx was forced to shut down its operations in New York after failing to register as a securities and commodities broker-dealer. The company was accused of falsely representing itself as a crypto exchange, leading to a $1.7 million fine. Later in December 2023, CoinEx faced a $2 million fine in Canada for non-compliance with Québec’s securities and derivatives legislation.

Regulatory Approval in Poland

Despite these setbacks, CoinEx has managed to secure a VASP license in Poland. This regulatory approval is a crucial part of CoinEx’s strategy to expand its operations in Europe. The license also provides CoinEx with access to other EU member states through the EU passport, ahead of the EU’s upcoming MiCA regulation.

Looking Ahead

With the VASP registration in Poland, CoinEx aims to reinforce its commitment to providing a secure and regulated trading environment for its users. The company is looking forward to expanding its operations in Europe and driving the global adoption of cryptocurrencies.

Conclusion

Despite facing legal issues in the US and Canada, CoinEx has managed to secure a VASP license in Poland. This marks a significant step in the company’s European expansion strategy. As the firm looks ahead, it is committed to providing a secure and regulated trading environment for its users and driving the global adoption of cryptocurrencies.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Solana (SOL) Emerges as Top Ethereum Developer Choice Amid Uptrend Post-FTX Collapse

Solana is emerging as a preferred choice...

MoonBag (MBG) Presale Attracts Render (RNDR) and Blastup (BLAST) Investors: Discover the Key Reasons

The MoonBag presale has recently captured the attention of...

Internet Computer (ICP) Unveils Groundbreaking AI Demo with Advanced Facial Recognition Technology

Internet Computer Founder Dominic Williams has hinted...

Top Cryptos to Buy Now: NOT, FLOKI, and WIF Leading the Market on May 27

The cryptocurrency market is buzzing with excitement...

Trump’s Crypto Holdings Soar Past $10M: Key Insights on BTC and ETH Investments

Donald Trump’s cryptocurrency portfolio has recently crossed...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin (BTC) Price Drops After Failing to Surpass $69K Resistance Level: Market Analysis

Bitcoin dips 0.02%, failing to breach $69,336...

Bitcoin (BTC) Price Analysis: Bullish Surge Propels BTC Towards $70K Resistance

Bitcoin (BTC) continues its upward trajectory, trading...

GBPJPY Technical Analysis Report: Key Insights for May 27, 2024

The cryptocurrency market continues to evolve rapidly,...

Shiba Inu (SHIB) Rally Hits a Roadblock: Key Insights and Market Analysis

Shiba Inu (SHIB) price action has gained...
Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Solana (SOL) Emerges as Top Ethereum Developer Choice Amid Uptrend Post-FTX Collapse

Solana is emerging as a preferred choice for Ethereum developers. The collapse of trading firms like FTX in November 2022 has...

MoonBag (MBG) Presale Attracts Render (RNDR) and Blastup (BLAST) Investors: Discover the Key Reasons

The MoonBag presale has recently captured the attention of investors from Render and Blastup, sparking significant interest in the crypto community. Many investors are drawn...

Internet Computer (ICP) Unveils Groundbreaking AI Demo with Advanced Facial Recognition Technology

Internet Computer Founder Dominic Williams has hinted at the integration of facial recognition in its incoming AI Demo push. The Demo...