US: Blockchain Security Co. BitGo Gets Regulator's Green Light to Become Crypto

[Crypto]

American crypto wallet and blockchain security firm BitGo has received a state trust company charter from the South Dakota Division of Banking, making it a qualified custodian for crypto, CNBC  reports September 13.

By creating its trust company, California-based BitGo will now be subject to regulatory scrutiny that encompasses know-your-customer (KYC) and anti-money-laundering (AML) checks and the filing of financial audits and monthly disclosures.

As it launches its regulated crypto custody offering, BitGo co-founder and CEO Mike Belshe told CNBC that:

Readmore: American crypto wallet and blockchain security firm BitGo has received a state trust company charter from the South Dakota Division of Banking, making it a qualified custodian for crypto, CNBC  reports September 13.

By creating its trust company, California-based BitGo will now be subject to regulatory scrutiny that encompasses know-your-customer (KYC) and anti-money-laundering (AML) checks and the filing of financial audits and monthly disclosures.

As it launches its regulated crypto custody offering, BitGo co-founder and CEO Mike Belshe told CNBC that:

Readmore: https://cointelegraph.com/news/us-blockchain-security-co-bitgo-gets-regulators-green-light-to-become-crypto-custodian

[Cheratu Mesir]

This is good news that can increase the popularity of cryptocurrency in the public. gradually several countries have become friendly countries for cryptocurrency because the existence of the legality and award certificates and the investigation of data privacy security.