- Gate US expands with two new state licenses.
- Total licensed states now number 28.
- Compliant services span 38 states.
Gate US secures two additional state licenses, raising its total to 28 and expanding compliant operations to 38 states. This progression aligns with regulatory obligations, enhancing its trading services for BTC, ETH, and other cryptocurrencies across more regions.
Gate US has been granted licenses in two additional states, broadening its regulated trading operations to 38 states as of October 2023.
This regulatory milestone enhances Gate US’s ability to provide compliant cryptocurrency trading across more regions, addressing evolving market and regulatory needs.
Gate US has expeditiously secured licenses in two more states, increasing its licensed operations to 28 states and compliant services to 38 states. The initiative demonstrates its commitment to maximizing secure, compliant operations in accordance with U.S. regulations.
“Gate US is a registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury. In addition, Gate US holds state level money transmitter licenses or approvals in multiple U.S. states and is actively pursuing additional licenses to expand its coverage.”
Involved parties include Gate Group, the parent entity of Gate US, focusing on facilitating market expansions domestically. The company emphasizes using its global infrastructure to meet U.S. regulatory demands and enhance trading security.
The expansion affects the cryptocurrency market by increasing access to major coins like BTC, ETH, and DOGE for users across the newly licensed states. The development aims at expanding crypto accessibility, without introducing exclusive coin offerings yet.
This expansion strengthens Gate US’s compliance standing as a registered Money Services Business with FinCEN and state-level licenses. It showcases the strategic moves to align with U.S. regulations and boost competitive positioning.
Gate US’s state licensing gains may lead to increased user trust and trading volume within the newly included states. Enhanced regulatory compliance and security provisions are expected to foster expanded participation from U.S. traders and institutions.
The expansion could result in noteworthy changes in market dynamics, influenced by increased trading volumes and heightened competitive pressure among exchanges operating under rigorous U.S. regulations. Gate US’s methodical compliance may serve as a blueprint for similar entities aiming to navigate the American crypto landscape.
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