Institutional crypto exchange LMAX Digital receives Gibraltar DLT license
Fri, 08 Mar 2019, 10:07 am UTC
LMAX Digital, an institutional cryptocurrency exchange operated by LMAX Exchange Group, has received an in-principle license as a Distributed Ledger Technology (DLT) Provider from the Gibraltar Financial Services Commission (GFSC).
Launched in May 2018, LMAX Digital was the first crypto exchange established by a regulated FX exchange operator and the only deliverable crypto exchange dedicated to institutional clients.
In its official release, LMAX said that the exchange is governed by similar rules and principles as LMAX Exchange Group’s FCA regulated entities, which ensures that it “operates with best-of-breed security, compliance, KYC and anti-money laundering policies and procedures, and market participants are treated equally regardless of status, size or activity levels.”
The GFSC’s regulatory framework on DLT went into effect on January 01, 2018, making Gibraltar the first jurisdiction to introduce regulations around this innovative technology.
The in-principle license granted by the GFSC confirms that LMAX Digital complies with the nine regulatory principles set out in Gibraltar’s DLT regulations, designed to protect consumers and businesses using digital assets stored or transmitted on distributed ledgers.
“LMAX Digital has filled the gap in the crypto market by providing institutions with a trading platform they trust, with deep liquidity, security of funds, and high performance, proven technology,” David Mercer, CEO of LMAX Exchange Group, said.
“We believe regulatory input is essential for the growth of the crypto currency market. LMAX Exchange Group has always supported regulatory oversight and we work proactively with regulators to help foster a transparent and trusted marketplace for all market participants.”
<Copyright © TokenPost. All Rights Reserved. >