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Bitso, a Mexican-based cryptocurrency platform, announced Thursday that it has obtained a Distributed Ledger Technology license from the Gibraltar Financial Services Commission (GFSC). Bitso has stated that, declaring that on August 1, custodial rights, deposits, as well as transactions on cryptographic currencies made on its platform will be governed by the Commission as part of its specific program. Regulatory framework of distributed general led technology.
"It was a legal and regulatory framework designed specifically to regulate businesses like ours, with consumer protection and safety being one of the key initiatives. This license gives Bitso a leading position among the most innovative financial services providers in Latin America and worldwide, becoming the first trading platform in Latin America, licensed and regulated by the GFSC. "
Bitso also revealed:
"We strongly believe in Blockchain technology and its use cases. Bitso has had ongoing conversations with Mexican financial regulators, contributing to the promulgation of the Fintech law in Mexico and actively participating in national and international forums. Since the first day, we have advanced the fintech industry in the region. "
Founded in 2014, Bitso describes itself as a foreign exchange bureau offering participants a "bridge" to connect financial platforms of novels, such as Bitcoin and Ether, and the Mexican peso. The company added:
"Our advanced banking integration, best-practice security standards, and strong regulatory compliance make Bitso the de facto choice for Bitcoin and Ether operations in the country. "
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