OPNX gets EU spot crypto trading license in Lithuania

Tom Blackstone10 hours agoOPNX gets EU spot crypto trading license in LithuaniaKyle Davies’ and Su Zhu’s OPNX exchange acquired a Lithuania virtual asset license to offer spot trading in the EU.2811 Total views20 Total sharesListen to article 0:00NewsJoin us on social networksCrypto exchange OPNX has obtained a virtual asset service provider license (VASP) in Lithuania, allowing it to provide spot crypto exchange services throughout the European Union, according to a Nov. 8 announcement seen by Cointelegraph.OPNX trading interface. Source: OPNX

The announcement stated that this license would require the exchange to “adhere to the highest standards of compliance and security.” The team claims they have already implemented a “robust” Know Your Customer and Anti-Money Laundering system to ensure they comply with EU regulations.

“Securing the VASP license from Lithuanian authorities is a significant milestone in OPNX’s worldwide expansion and our mission to serve crypto users across the globe,” said OPNX CEO Leslie Lamb.

In a conversation with Cointelegraph, Lamb clarified that some OPNX services may still be unavailable in some jurisdictions within the EU. “This license gives us the ability to service the European region, but there are specific jurisdictions within the EU that do require specific licenses as well in order to operate certain services,” she stated, adding that OPNX is currently attempting to acquire those licenses. However, the current license will allow OPNX to provide spot trading services throughout the EU, with other services becoming available as further licenses are acquired.

Related:3AC founders’ OPNX exchange claims to be funded by AppWorks, SIG

OPNX has been a controversial exchange since its inception. It was founded by Kyle Davies and Su Zhu, who also founded bankrupt crypto hedge fund Three Arrows Capital (3AC), along with Mark Lamb and Sudhu Arumugam, who founded bankrupt crypto exchange CoinFLEX. Because of its association with these prior bankruptcies, OPNX critics have claimed the exchange is unsafe to use. However, the exchange claims that it is helping bankruptcy creditors by allowing them to sell bankruptcy claims and get paid faster.# Business# Europe# Bankruptcy# Cryptocurrency Exchange# European UnionAdd reactionAdd reactionRead moreHow blockchain, AI can help research into extending human lifePay and dump? How businesses accepting crypto payments influence adoptionWOO Network to sever ties with Three Arrows Capital after share buyback