Bitstamp granted license to be a fully regulated and licensed exchange in the EU

Bitstamp granted license to be a fully regulated and licensed exchange in the EU

Just announced today, the bitcoin exchange Bitstamp has said they have been granted a license by the Luxembourg government to be a fully regulated and licensed exchange in the EU.

In a statement made by the exchange, they said that they went through a rigorous application process with the Luxembourg financial regulator, the Luxembourg Financial Industry Supervisory Commission (known as CSSF) which spanned nearly two years, and included security reviews in addition to an audit by Ernst & Young Luxembourg. Bitstamp’s license is passportable into the 28 EU member states providing all European customers with a robust, secure platform for bitcoin trading.

As previously reported, Bitstamp was said to be working on a license for the exchange. Bitstamp is one of the most well known bitcoin exchanges, especially in the EU, which started in 2011 but officially launched in 2013. As part of the process Bitstamp moved their operations from Berkshire to Luxembourg.

In the announcement Bitstamp said,

New and current Bitstamp clients can rest assured knowing that Bitstamp and its services are approved across Europe. This stamp of approval ensures that Bitstamp offers the highest levels of security and consumer protection previously only recognized in traditional financial institutions.

Bitstamp has simultaneously launched BTC/EUR trading to better serve European markets. We are also offering free trading in BTC/EUR for our loyal clients for the next month (until end of May).

As part of the announcement, Bitstamp investor Dan Morehead who is the CEO of Pantera Capital released a statement which in part read,

The license has been signed by Luxembourg’s Minister of Finance Pierre Gramegna. Bitstamp will become the first fully licensed bitcoin exchange in Europe, going into effect on July 1st, when the company will be fully operational from their new headquarters in Luxembourg.

When Pantera first invested in Bitstamp in 2013, the digital currency industry was a virtual Wild West — a promising frontier, yet unregulated and uncertain. Today’s announcement represents a major step in the industry’s maturation.