Mexican cryptocurrency exchange snatches Distributed Ledger Technology licence.
Mexican cryptocurrency exchange Bitso has announced it will become regulated by the Gibraltar Financial Services Commission (GFSC). According to the announcement, it makes the platform the first exchange regulated by the GFSC in Latin America. The platform will be compliant with a Distributed Ledger Technology Regulatory Framework designed for blockchain businesses, guaranteeing users protection and security.
From Aug. 1, custody, cryptocurrency withdrawals, deposits and trading will be overseen by the Gibraltar financial regulator.
“This license gives Bitso a leading position as one of the most innovative financial services providers in LatAm and the world, by becoming the first exchange platform in LatAm, licensed and regulated by the GFSC,” the announcement reads.
The exchange has been working with the Mexican financial regulators and is operating under the Mexican Fintech Law.