Bittrex Global has announced by Cryptocurrency trading platform Bittrex as a new platform headquartered in Liechtenstein. Bittrex Global is set to be rolled out at the end of October in the city of Vaduz according to a news release shared with Cointelegraph on Sept. 30. Bittrex chose to establish a trading platform in Liechtenstein because of the small country’s regulatory clarity toward digital currencies and blockchain technology.
Bittrex was founded in 2014 by three cybersecurity engineers. It is the premier U.S.-based digital asset trading platform, providing lightning-fast trade execution, dependable digital wallets and industry-leading security practices.
The mission of Bittrex.com is to help advance the blockchain industry by fostering innovation, incubating new and emerging technology, and driving transformative change. Bittrex, Inc. is not a U.S.- registered securities exchange.
New products in accordance with EU law
Bittrex Global plans to create new features and products, including client reward programs, interoperability of credit cards, EU-wide private token sales and a portable cryptocurrencies trading app.
During the launch, the platform also plans to register under the Transaction System for the Trusted Technology Act, also known as the Blockchain Act.
As part of the platform’s launch, Bittrex Global made new appointments, with Kiran Raj as the chief executive officer and Stephen Stonberg as chief operating officer.
Prior to joining Bittrex Global, Raj was a partner at Los Angeles-based law firm O’Melveny & Myers LLP and served as deputy general counsel of the U.S. Department of Homeland Security. Stonberg has had a 25-year career in financial markets.
Approach to regulating crypto and blockchain
This spring, the Liechtenstein government enacted the Blockchain Act. In addition to stringent regulations on the demands of Anti-Money Laundering and Know Your Customer, the act mainly offers a clear legal foundation for safety tokens ‘ ownership, transfer and secure storage.
Following that, the government passed the Token and VT Service Providers Act, which aims to improve investor protection, combat money laundering and establish clarity. The government has expressed confidence that the new regulation will generate an appropriate regulatory climate to counter hazards, provide regulatory clarity and facilitate token economy growth.
Source : cointelegraph
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