Place/Date: Hong Kong City, Hong Kong - March 20th, 2018 at 8:13 pm UTC · 4 min read
Contact: Myles Claffey, Source: CoinMetro
CoinMetro are taking an active role in the pursuit of regulation; it is understood that one of the most significant challenges facing cryptocurrency exchanges presently is the inability to for exchanges to maintain resilient relationships with governments, financial institutions and so on.
CoinMetro knows that it will be operating the platform on a global scale, and if they are to keep the red tape away then it is vital that CoinMetro has a framework of global licences that stretch across multiple jurisdictions.
On November 25th, 2017, CoinMetro began taking essential strides on two fronts: firstly applying for an eMoney Registration in Georgia which allows for the payment services-side of the CoinMetro business to operate and deal in fiat transactions with countries from outside of the EU.
Secondly, applying for eWallet and Fiat to Crypto Exchange Licenses in Estonia. By doing this, CoinMetro secures the means to operate an exchange that deals in both fiat and crypto for clients within the EU and across the globe, also allowing for payment acceptance via credit cards, SWIFT transfers, SEPA transfers, and external wallet systems from EU residents.
They will begin to work closely with regulatory bodies, governments and so on to build relationships and obtain the necessary licenses. This is just the first step in an ambitious regulatory plan that looks to acquire licensing in a multitude of jurisdictions.
CoinMetro have additionally brought on Danny de Gier as part of their regulatory team. De Gier, 48, is a Financial Crimes/AML/Sanctions expert, who has worked in industry leading companies like IBM, HSBC and RBS. With 10 years in the IT industry and a further 15 combating money laundering, fraud and other financial crime, Danny’s understanding of regulated industries is second-to-none.
Danny boasts strong experience in leading global AML teams, and he also provides consultancy to a wealth of smaller firms firms such as the International Compliance Training Organisation.
The CoinMetro platform is designed to bring traditional financial services and more to the Cryptocurrency / Blockchain space, below are some examples:
These tools are robust and will usher in a new era of how users engage with cryptocurrencies; making the crypto space one that can be easily navigated and all the while offers similar benefits to fiat currency as well as further innovations. For this era to come about and for CoinMetro users to reap the full benefits of the platform, it is of paramount concern that all regulatory needs are met, hence the commitment to making it a reality.
The CoinMetro Token Generation Event (TGE) for the XCM token is ongoing and ends March 31st, 2018. Since its launch on the 21st of February, it has raised just over 14 Million USD, the first $4 Million of which was raised within the first 12 hours of the event going live.
The current price of XCM is $0.15; the bonus and pricing structure for the TGE are as follows
Note: “TBPR” stands for “Token Buyback Program Reserve”
Disclaimer CoinMetro is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest