How Can a Digital Currency Futures Exchange Be Considered Legal?April 22, 2021
With the hotness of the cryptocurrency market, more and more people want to make a pot of gold on it. Many messy trading platforms have gradually appeared in the market, but they do not have a good regulatory agency to control and supervise them. Recently, Bexplus, an exchange that has been established for three years, has officially obtained the MSB license under the guidance of the U.S. regulator FinCEN (a financial crime enforcement agency under the U.S. Department of the Treasury), which means that Bexplus now provides compliant cryptocurrencies in 50 U.S. states Derivative products.
What is MSB?
The full name of MSB is Money Services Business. It is a financial license supervised and issued by FinCEN. The main subject of regulation is businesses and companies related to currency services, including cryptocurrency transactions, foreign exchange, international remittances and other businesses. In March 2018, the U.S. Department of the Treasury and the Securities Regulatory Commission clearly emphasized that cryptocurrency exchanges and their managers engaged in digital asset-related businesses in the United States must register for MSB licenses in FinCEN. In other words, in order to conduct digital currency-related businesses in the United States, you must have an MSB license.
The MSB license is also a standard license for international cryptocurrency trading institutions. At present, first-line platforms such as Coinbase, Bitfinex, Poloniex and Huobi all hold this license to operate. Therefore, global compliance of Bexplus has been further improved.
In the future, Bexplus will continue to carry out compliance work on a global scale, accept global supervision, become the benchmark platform for international operations in the industry, and provide global users with more professional, safe and compliant cryptocurrency transaction services.
The consequence of using exchange’s lack of license
Bitcoin, which came out in 2009, has skyrocketed by more than 5 million times in just eight years. The continued enthusiasm of Bitcoin has allowed criminals at home and abroad to capture people’s psychology of getting rich quickly and use the concept of virtual currency to concoct various MLM scams.
Some bitcoin trading sites will disappear directly after you put bitcoin into the platform, other trading platforms without a license will even steal the bitcoins in your wallet. After that, their website will no longer exist, and traders have nowhere to protect their rights. There are too many traps in the market, people will fall into the trap if they are not careful. Therefore, the first step to choose a formal trading platform is to check whether it has an MSB license or not. If it does not have a license, transactions on this platform will be risky since traders would not have government protection.
Legal digital currency futures exchange- Bexplus!
Bexplus is a leading crypto derivatives platform offering 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts. Headquartered in Hong Kong, Bexplus is trusted by over 100K. Bexplus traders around the world, including the USA, Japan, Korea, and Iran. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support.
The most important thing is its 100X Leverage!
But how does it work?
Assume we use 1 BTC to open a long contract when Bitcoin is trading at $10,000. Please note that with 100x leverage, 1 BTC can open a contract worth 100 BTC.
One day later, the price of Bitcoin increases to $10,500. The profit will be ($10,500 – $10,000) * 100 BTC/$10,500 *100% = 4.76 BTC, making the ROI 476%.
Now, with Bexplus’ 100% bonus, our initial investment would be 2 BTC, and our realized profit made with these 2 BTC will be 9.52 BTC, and the ROI will also be doubled to 952%.
With leverage, it’s important to be vigilant, as returns can be outstanding, but liquidations are easier if the price moves down.
Bexplus – Recommended Leverage Trading Platform
- No KYC requirement, registration with Email verification
- Demo account with 10 BTC for traders to get familiar with leverage trading
- 100% bonus for every deposit and 10% off of transaction fee
- Intuitive and full-featured App on Apple App Store and Google Play
- Affiliate program with up to 50% commission reward
- 24/7 customer support and analysts service
BTC wallet: up to 21% annualized interest without any risks
If you want to take a short break from trading, the Bexplus BTC wallet can help you generate juicy profit without trading. With up to 21% APY, which is no doubt one of the most profitable rates in the industry. While most lending platforms require traders to deposit at least 1 BTC, traders can make a deposit starting from 0.05 BTC on Bexplus.
What can I do with the bonus?
The bonus is not withdrawable, but traders can use it as margin to open bigger positions and take more profit. Profit made with the bonus is withdrawable. Besides, with bigger margin, traders’ positions are less likely to get liquidated when there are huge price swings.
You might miss the opportunity to buy cheap Bitcoin, but you can still make considerable profits with the revival of Bitcoin. If you are prepared to accumulate more BTC.
If you are prepared to accumulate more BTC.
Join Bexplus and claim your bonus now!
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