Licensing of cryptocurrency exchanges.

in #bitcoin6 years ago

All existing cryptocurrency exchanges can be divided into two large groups.
The first group is the classic cryptocurrency exchanges that provide the opportunity to trade only cryptocurrency pairs.

The second group includes exchanges that support trading not only with cryptocurrency pairs, but also cryptocurrency trading with fiat funds (traditional currencies, for example, dollar, euro, yen). Also, it supports the entry and withdraw of traditional currencies.

Thus, exchange licenses can also be divided into two groups:
-traditional licenses that regulate financial transactions and which are indirectly covered by cryptocurrency transactions (for example, in the USA, Hong Kong).
-specialized crypto-licenses, which are specially introduced by the competent state authorities for the settlement of cryptocurrency exchange operations (for example, in Japan and Estonia).
Bahrain now deserves special attention, as the regulation of Fintech activities is being actively implemented there and research of cryptocurrencies and the possibility of their introduction into the economy at the state level are being conducted.

Regarding jurisdiction for obtaining licenses for conducting cryptocurrency exchange activities, the following countries are currently the most popular:
-Japan;
-Estonia;
-USA;
-Hong Kong;
-Singapore;
-Great Britain;
-Bahrain.
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Having a trading platform that supports crypto - fiat pairs will really make an interesting trade. System should however employ funding and withdrawal to fiat directly and it will really be awesome. Adab is thinking big

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I think the second group that supports both trading with cryptocurrency pairs and cryptocurrency trading with fiat funds is good one. It will provide traders many choices. Anyway ADAB Solutions has a smart team and goal.

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One of the most important tasks of the project is to provide the most secure environment for customer funds;
FICE organizes regular audit of certificates and security protocols;
All sensitive data will be encrypted using AES-256 encryption Protocol;
High-trust SSL certificates (EV SSL) will be used on the FICE website.

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Adab is a crypto exchange, acting on the basis of legislative and religious norms and rules. The platform was built so that Muslims could use it without breaking the rules. At the same time, the exchange is suitable for any user, because it gives the necessary tools to traders.

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To get a licensed in cryptocurrency is a very hard thing to do. And the team did well to acquire a license right now before their exchange is fully operational.

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When ADAB solution application licensing of crytocurrency exchanges for people transaction , you will have promote to everyone then ADAB solution will increase in the future.

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