Bitstamp is working with Luxembourg government on e-money license

Bitstamp is working with Luxembourg government on e-money license

UK based bitcoin exchange Bitstamp is working on an electronic money institution (EMI) license or payment institution (PI) license, according to sources familiar with the matter.

Bitstamp is one of the most well known bitcoin exchanges, especially in the EU, which started in 2011 but officially launched in 2013.

In a new report from CoinDesk, they said that Bitstamp is reportedly close to announcing a new deal with the Luxembourg government that would enable it to launch regulated and licensed services across Europe. The move would allow the exchange to become “the first regulated and licensed bitcoin exchange for all 28 countries in the EU.”

Most recently another bitcoin exchange Circle expanded to the U.K., and partnered with Barclays, making Circle the first digital currency firm to receive an e-money license from the UK Financial Conduct Authority, which enables the company to hold pound sterling, facilitate consumer and business payments, run a currency exchange and move British pounds globally.

There are other bitcoin exchanges in the UK that don’t hold an e-money license at this time, but operate without one as the UK has been very open to fintech innovations and has embraced bitcoin and blockchain technology.

SHARE
david@bitcoin.com'
David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.