Toobit has officially obtained the financial license supervised and issued by Money Services Business (MSB) in the United States, which enables it to carry out legal and compliant crypto asset financial transaction business across all 50 states of the United States, providing convenience for global users again.At the same time, it also made another progress in Toobit's international business development and compliance work.
MSB (Money Services Business) license is a financial license supervised and issued by FinCEN (Financial Crimes Enforcement Bureau under the United States Treasury Department), mainly supervise businesses and companies related to money services.
The scope includes international remittance, foreign exchange, currency transaction/transfer (including digital currency/virtual assets), provision of prepaid items, issuance of traveler's checks and other businesses. Companies engaged in the above-related businesses must apply for an MSB license in order to operate legally.
MSB has high requirements for auditing exchanges in terms of security and law, reflecting the recognition of comprehensive strength and credibility of the Toobit exchange.
Besides, security and compliance have always been the preferred factors for exchanges. So, the acquisition of MSB will have a positive promotion effect on Toobit's user accumulation.
Toobit continues to promote global compliance operations, expand international services, and continue to bring more surprises to users under the premise of capital supervision and security compliance.
Digital assets are innovative investment products with volatile prices. Please judge your investment ability rationally and make prudent investment decisions.
Jan 23, 2023