Bitstamp becomes the first fully licensed bitcoin exchange in Europe

Regulation | April 26, 2016 By:

Bitstamp has become the first bitcoin exchange to be granted a national license in Europe. The license will go into effect on July 1st and marks the first time that a bitcoin exchange acquires the license as a fully regulated payment institution, in the world.

The license was signed by Luxembourg’s Minister of Finance Pierre Gramegna. He stated: “Luxembourg has a long-standing history as an international leader in innovation. That Bitstamp has chosen Luxembourg as its European hub only strengthens that reputation. I believe this announcement marks a milestone for bitcoin and digital finance in Europe. Bitstamp is a most welcome addition to Luxembourg’s fintech ecosystem.”

The license was acquired following a “rigorous application process” that lasted nearly two years with the Luxembourg Financial Industry Supervisory Commission (CSSF), the EU state’s financial regulator.

“We have put a lot of time and resources into the regulatory process with the goal of ensuring customers feel more confident in using Bitstamp’s exchange and products across the European UnionWe are proud to have taken this important step for our cu stomers and the digital currency/blockchain industry globally,” said Nejc Kodric, co-founder and CEO of Bitstamp.