EXMO Acquires Two New Licenses from Estonia Authorities.

EXMO Acquires Two New Licenses from Estonia Authorities.

EXMO has acquired two licenses from Estonia Authorities which they had previously made clear they would attempt to acquire.

Back at the start of December, we reported the news that EXMO was planning to further legitimise their operations going into 2020, be more transparent, and explore areas of regulation available to them globally. Specifically, the detailed news that they would be attempting to acquire licenses that were available in Estonia.

Well, as of last week, they have stayed true to these promises and have acquired two licenses from Estonia. These licenses will permit the country to operate services and provide both “a virtual currency wallet service” and “services of exchanging a virtual currency against a fiat currency” within Estonia. This will thus allow them to A) Conduct exchange operations on the conversion of cryptocurrency into fiat currencies, and B) provide a wallet service for storing cryptocurrencies.

While they were already essentially doing this, being recognized by the authorities within Estonia is an important step for them. This is owed to the prominence Estonia has in the world of cryptocurrency trading with the country recognising bitcoin as a decentralized virtual currency, and is pursuing the implementation of digital regulations.

The nation is just one of the only several jurisdictions in the world that offer such licenses. As such, it is a significant statement from the platform and a sign that they are dedicated to a legitimised world of digital assists.

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