Since it was first released, the Bitstamp Bitcoin exchange has seen an interesting growth. Today, the company announced that Luxembourg has just granted it a payment institution license, thus making it the world’s first nationally licensed Bitcoin exchange.
This approval comes with significant implications, however. Due to the European Union’s regulations, a financial company that is legally established in one member country can freely operate in all others. With this in mind, Bitstamp has just hit 28 birds with one stone, as it will automatically be licensed across all 28 EU states.
The actual license will go into effect on the 1st of July, when the exchange will become operational in Luxemburg. Alongside with this exciting announcement, Bitstamp is also launching euro-Bitcoin trading, which means that customers in EU countries who wish to exchange euro for BTC and vice versa, will easily be able to do so.
In a recent press statement, the cofounder and CEO of Bitstamp Nejc Kodric stated that: “This is an industry first. We are entering a new era where [being a licensed exchange]is becoming an industry standard.”
This license will likely open doors to financial partnerships between Bitstamp and European financial institutions, which will eventually further promote bitcoin adoption in EU member states.
The achievement itself is quite huge, considering the fact that the procedures required by the Luxembourg government for the license, represent procedures that no other Bitcoin exchange was capable of doing correctly, which is why the license will likely remove some of the fear that banks have when it comes down to working with Bitcoin companies, according to Dan Morehead, CEO of Pantera.
Based on everything that has been outlined so far, what do you personally think about Bitstamp being recognized as an official, licensed Bitcoin exchanged in all European Union member states? Let us know your thoughts in the comment section below.
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