Crypto exchange CEX.IO expands presence in U.S. with Money Transmitter Licenses

Cryptocurrency exchange CEX.IO was recently granted additional licenses to operate in the United States.

To be more specific, the exchange has secured Money Transmitter Licenses (MTL) to operate in nine additional states.

In a press release, CEX.IO said that it was registered as a Money Service Business by FinCEN of the U.S. Treasury in 2015, which allowed it to serve residents in states where MTLs are not required. It has now received MTLs in nine states including Iowa, Kansas, New Mexico, Oklahoma, South Dakota, West Virginia, Maryland, Alaska and New Hampshire.

“Receipt of these new MTL licenses now further expands upon CEX.IO's United States presence, as CEX.IO may now serve residents in 28 states, with plans to expand to all 50 states and US territories,” it said.

CEX.IO CEO Oleksandr Lutskevych also noted the importance of this particular development.

“The US customers have represented a significant portion of our client base from the very start of CEX.IO. We’ve always spent a lot of our effort and resources, serving this market, remotely up until now.

"A dedicated US presence will allow us to continue improving our services to our existing US clients and to focus on opening access to our platform to residents of states we have not covered before. Both meet the necessary regulatory requirements, specific for each state, and tailoring of our products to the needs of the US clients will be the cornerstone tasks for our team in America," he said.