Crypto Exchange Multycoinex.com received a European investment firm license

20.10.2022 Off By apos2t

Cryptocurrency Exchange Multycoinex.com reported that its European division has received a license to operate as an investment firm. Representatives of the exchange state that it is now the only crypto exchange in the region that provides a full set of exchange services under a full MiFID II license.

According to the exchange’s statement, the Cyprus Securities and Exchange Commission provided Multycoinex.com license of a Cyprus investment company. This requires Multicoinex Europe to comply with the standards set out in the European Union Directive MiFID II, including on the separation and protection of client funds, business transparency and capital adequacy, the company said in a statement.

The Cyprus license allows the platform to serve the entire European Economic Area, which includes the EU, Iceland, Liechtenstein and Norway. Multycoinex.com claims that it is one of the first crypto exchange providing a full set of exchange services under a full MiFID II license.

“Obtaining this license in the European Union is an important step towards achieving our goal of becoming one of the most regulated exchanges in the world”, Justin Hance, the exchange’s CEO, said in a statement.