Place/Date: - July 20th, 2022 at 11:33 am UTC · 2 min read
Recently, Russia and the EU have reportedly implemented laws that regulate crypto in the country. While this might particularly impact the crypto market, FAMEEX exchange, the new crypto exchange that is regulated in Australia, accommodates local regulations and laws to ensure all traders the natures of the crypto market. This legal status means that the company is subject to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF 2006), section 5, and associated rules. Accordingly, Bitcoin, and cryptocurrencies that share its characteristics, are treated as property and subject to Capital Gains Tax (CGT).
In order to provide the safest crypto trading experience for its users, it is the number 1 priority to strictly comply with the regulations in the jurisdictions in which FAMEEX is operating. As a fully licensed Australian crypto asset business registered with AUSTRAC, FAMEEX complies fully with any and all regulations that apply to the operation and adoption.
FAMEEX truly believes that licensing can be useful in allowing crypto service providers to operate a successful and growing legal business. That being said, the regulatory authorities must strike a delicate balance between consumer protection and consumer freedom. Cryptocurrency businesses will always seek to operate in a regulatory environment that allows them the stability and freedom to grow and the exchange entails those approaches to crypto regulation provides the necessary criteria.
FAMEEX will continue to observe the regulatory changes around the world, and update its internal procedures to best reflect FAMEEX willingness to adhere to the spirit of rules that combat cybercrime and make the crypto world a better, safer place. At the same time, the company hopes regulators will take into account the views of the crypto industry when drafting regulations so that honest and legal companies are not driven to find new jurisdictions or driven out of business altogether.
Launched in 2020, FAMEEX is a global cryptocurrency exchange that currently provides a series of financial services including fiat-to-crypto, crypto-to-crypto, grid trading, futures, token listing, global affiliate, and the super rebate program. With more than 200,000 users across 30 countries and regions around the world we provide a secure, stable, efficient 24/7 trading experience.
Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.