The crypto brokerage firm has its eye on opportunities in Gibraltar and Switzerland.
Bits of Gold, Israel-based cryptocurrency brokerage firm, is considering establishing a presence in Europe with a special eye on Gibraltar and Switzerland.
Chief Growth Officer at the firm, Tomer Niv, told Finance Magnates that the company is working on ensuring that their operations will be fully compliant before any official moves are made.
“For now we focus on learning the regulatory systems of Gibraltar and Switzerland in order to upgrade our Liquidity abilities,” he said. “We will definitely meet major players and banks in order to create new partnerships, and we don’t rule out the possibility of marketing to European clients in the future, as long as it will be abided to the law.”
Bits of Gold Describes Itself as a “Leading” Regulatory Force
The company, which was founded in 2014 and serves more than 50,000 registered private users, offers Israelis a platform to trade Bitcoin and Ethereum for ILS, USD, and EUR. However, the company says that its main focus in recent times has been to provide liquidity solutions for ICOs. Over-the-counter trades are employed to liquidate ICO revenues into ILS and deposit them into Israeli banks.
Bits of Gold also describes itself as a “leading” force in industry regulatory efforts; the Israeli Ministry of Finance switched the company’s currency services provider to the new Financial Services Provider license in May of this year. This license is temporary but is expected to receive permanent status in October of this year, according to the company.
In addition to “[maintaining] ongoing discussions with the Israeli regulators and banks about risk management,” the company says that it has “independently developed a system of reports to the Israeli Anti Money Laundering Authority” that perform AML and KYC checks using services like Chainalysis and Thomson Reuters. The company’s compliance department is led by a former Compliance Officer at the Bank of Jerusalem.
Gibraltar and Switzerland--Crypto Paradise?
Gibraltar and Switzerland have both risen to the top of the cryptosphere as hot spots for crypto startups and other Blockchain sectors. Both the country and the territory have attempted to develop regulatory structures that strike a balance between protecting investors and encouraging industry growth.
Speaking about Switzerland, CryptoExplorers.org co-founder Marcelo Garcia told the Financial Times that “nobody is here because they can get away from governments. They are here because there are gentle, helpful government structures.” Hopefully, Switzerland’s regulatory attitude will continue to support companies who are seeking to establish themselves there, like Bits of Gold, as the blockchain industry progresses into the future.
Bits of Gold, Israel-based cryptocurrency brokerage firm, is considering establishing a presence in Europe with a special eye on Gibraltar and Switzerland.
Chief Growth Officer at the firm, Tomer Niv, told Finance Magnates that the company is working on ensuring that their operations will be fully compliant before any official moves are made.
“For now we focus on learning the regulatory systems of Gibraltar and Switzerland in order to upgrade our Liquidity abilities,” he said. “We will definitely meet major players and banks in order to create new partnerships, and we don’t rule out the possibility of marketing to European clients in the future, as long as it will be abided to the law.”
Bits of Gold Describes Itself as a “Leading” Regulatory Force
The company, which was founded in 2014 and serves more than 50,000 registered private users, offers Israelis a platform to trade Bitcoin and Ethereum for ILS, USD, and EUR. However, the company says that its main focus in recent times has been to provide liquidity solutions for ICOs. Over-the-counter trades are employed to liquidate ICO revenues into ILS and deposit them into Israeli banks.
Bits of Gold also describes itself as a “leading” force in industry regulatory efforts; the Israeli Ministry of Finance switched the company’s currency services provider to the new Financial Services Provider license in May of this year. This license is temporary but is expected to receive permanent status in October of this year, according to the company.
In addition to “[maintaining] ongoing discussions with the Israeli regulators and banks about risk management,” the company says that it has “independently developed a system of reports to the Israeli Anti Money Laundering Authority” that perform AML and KYC checks using services like Chainalysis and Thomson Reuters. The company’s compliance department is led by a former Compliance Officer at the Bank of Jerusalem.
Gibraltar and Switzerland--Crypto Paradise?
Gibraltar and Switzerland have both risen to the top of the cryptosphere as hot spots for crypto startups and other Blockchain sectors. Both the country and the territory have attempted to develop regulatory structures that strike a balance between protecting investors and encouraging industry growth.
Speaking about Switzerland, CryptoExplorers.org co-founder Marcelo Garcia told the Financial Times that “nobody is here because they can get away from governments. They are here because there are gentle, helpful government structures.” Hopefully, Switzerland’s regulatory attitude will continue to support companies who are seeking to establish themselves there, like Bits of Gold, as the blockchain industry progresses into the future.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
US Prosecutors Recommend 3-Year Prison Sentence for Binance's Changpeng Zhao: Report
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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