In December 2021, the internationally renowned exchange SCTCEX won the US MSB financial license and went online at the same time. The blockchain industry’s well-known digital currency exchange SCTCEX won the US MSB license. This is another honor for the SCTCEX digital asset platform. The MSB license is a sign of the legal operation of digital assets, and it also represents that SCTCEX digital asset exchange will move towards a more glorious development journey in the future.
Nowadays, the most applied for blockchain exchanges should be the MSB digital currency license in the United States. The full name of MSB is Money Services Business. The US MSB license is a type of financial license supervised and issued by Fincen (the Financial Crime Enforcement Bureau under the U.S. Treasury Department). The main objects of supervision are money service-related businesses and companies, including digital currency, Virtual currency trading, ICO issuance, and foreign exchange, international remittance, etc. business. Companies engaged in the above-mentioned related businesses in the United States must apply for an MSB license in order to operate legally.
The license is one of the important compliance documents of the platform. It is equivalent to a business license, especially after Huobi successively won the Japanese license, the American license, and after applying for the Canadian license, the license was pushed to a new level. Obtaining a US MSB license also means that Huobi can reasonably conduct business in most US states. This is the reason why major platforms have begun to apply for licenses. If you want to conduct business in a formal and legal manner, you must apply for licenses.
The SCTCEX exchange’s acquisition of the US MSB trading license demonstrates its forward-looking strategic layout. Since 2020, the SCTCEX exchange team has carried out a global strategic layout around compliance as a one-stop blockchain asset trading platform. SCTCEX exchange will provide services to millions of blockchain investors from all over the world. At present, SCTCEX exchange has obtained MSB licenses from the United States and many other countries. According to official sources, SCTCEX has submitted applications for review of other financial licenses to financial regulators in many countries and regions.
Advantages of MSB license
1. Investor Recognition-American corporate laws and financial industry supervision are very complete. Having a US license will make your digital currency trading platform more recognized by global investors.
2. Obtain authoritative approval-Obtain the authoritative approval of the U.S. Department of the Treasury, and you can conduct related business in the U.S. and around the world, which represents the compliance supervision of the digital currency platform.
3. Become a first-line platform – MSB license is also a standard license for global digital currency trading institutions. Huobi, ok, Binance Exchange and other platforms all hold this license to operate.
4. Diversified services-MSB license permits currency exchange and sending services, so that you can better meet customer needs and provide more diversified services.
SCTCEX Official website address：www.sctcex.com