Crypto Exchange Currency.com Registers with FinCEN: A new US compliant crypto exchange
Cryptocurrency and tokenized asset exchange Currency.com gained a foothold in the United States after registering with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) as a money services business.
What happened: In an announcement shared with Benzinga on Thursday, Currency.com announced that it will launch in 48 states and territories across the United States and will make it easier to acquire, store and invest in cryptocurrencies. CEO of Currency.com Steve Gregory said this causes the platform to “one of the more mature markets of cryptocurrency world. »
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Currency.com claims that in 2021 it saw a 445% increase in overall trading activity over the previous year and a 409% increase in the number of trades executed. Gregory said Benzinga differentiates the cryptocurrency platform from competitor exchanges by using a machine-learning algorithm to assess customer risk profiles and reducing onboarding to mere minutes – if not seconds.
For the future, said Gregory Currency.com that plans to expand its operations in the United States. He said that while this market is more mature than average, currently less than 20% of American adults hold Crypto and he believes there will be plenty of room for growth as the company predicts “that number will exceed 50%.” to the next uptrend in the market.”