Dear user:
In April 2023, BiFinance Exchange officially announced that the MSB payment license submitted to FINCEN passed the review, and the official license was issued on April 23.
The full name of MSB is Money Services Business, which is under the supervision of FINCE (Financial Crimes Enforcement Bureau, an agency under the U.S. Department of the Treasury) and complies with the registration and licensing system. The main objects of supervision are businesses and companies related to money services, including digital currency, virtual currency transactions, foreign exchange exchange, international remittance, international payment, etc. Digital asset "managers" (such as asset issuers) and "exchange parties" (digital asset exchanges) that provide services to US users are MSBs under the US Bank Secrecy Act (BSA), and both need to be completed within 180 days of the start of business FINCEN registered. Since the U.S. federal government currently has no other clearer and clearer regulatory requirements for the currency trading business, the MSB license has become a necessary condition for the compliance of the digital asset trading business.
Information disclosure:
BiFinance MSB license registration serial number is: 31000241154611, BiFinance is registered as a money service business (MSB) entity in the US Bank Secrecy Act (BSA) 31CFR1022.380(a)-(f), users can search for MSB registrants on the webpage Verify the authenticity of this information.
As an international institutional digital asset trading platform, BiFinance is well aware of the importance of promoting the compliance process based on the global market. The successful approval of the US MSB license application is another landmark event in our global compliance roadmap.
BiFinance Team
April 27, 2023
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