The First Regulated Crypto Exchange Launched in Belarus

Wilfred Michael 

Wilfred Michael

Reporter

19 January 2019,
20:41

Currency.com, a crypto startup based in Belarus on Tuesday announced the release of its new platform that will allow traders to buy and sell tokenized securities.

A unique feature of the new exchange is that it will allow clients to invest and trade financial instruments such as equities, bonds, and stock without first having to convert their digital currency into fiat.

Explaining the service will function, currency.com revealed that the platform would offer investors a security token that will track that price performance of conventional financial instruments such as “Apple Shares” in real-time. The startup claims that these tokenized securities will bear “the same economic costs and benefits of an Apple share” listed on the NASDAQ exchange.

To effectively carry out the proposed trading activities, Currency.com said it would leverage the “technology of Capital.com, its sister platform regulated by the FCA [U.K. Financial Conduct Authority] and CySEC [Cyprus Securities and Exchange Commission]” as a licensed financial market or exchange.

Although its sister platform is regulated by authorities in other regions, Currency.com said it has also reached the compliance standards stated in the Belarusian crypto governance framework, including AML, KYC, and General Data Protection Regulations (GDPR).

 

Belarus Clear For Startups With Crypto Regulatory Waves Cleared

Currency.com’s decision to launch in Belarus gives evidence of what countries that have failed to provide clear regulations for the crypto industry is missing right now.

It was only late last year that Belarus approved a full regulatory framework for the crypto industry and less than two months, blockchain startups are considering moving into the country because of its conducive atmosphere for their activities.

The migration of blockchain startups to Belarus will no doubt boost economic activities and probably provide a new source of tax revenue for authorities. It will also put the nation in positive light when it comes to innovation just as the less noticed island of Malta secured prominence as a blockchain hub.

 

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