bitFlyer gets EU’s Payment Institution license - now it’s compliant with Japanese, US and European laws

The cryptocurrency exchange called bitFlyer has received a Payment Institution license from the government of Luxembourg, and this is in addition to the fact that this exchange already legally operates in Japan and the United States.

The representatives of bitFlyer are very pleased with the decision of Commission de Surveillance du Secteur Financier, which is the name of the regulator in Luxembourg that allowed the exchange to operate as a full-fledged payment institution within the borders of the European Union, effectively making this exchange the most compliant in the world, as the journalists note.

According to Coinmarketcap, bitFlyer’s turnover makes $302,825,100, with BTC/JPY being the main trading pair. Now that the exchange is legitimized in the European Union, they plan to trade BTC/EUR.

Compliance with governmental regulations is quite often a serious obstacle for cryptocurrency exchanges, which often leads to situations when exchanges are available in one regions and limit their functions in others. For example, Coinbase allows to buy and sell cryptocurrency for the residents of the United States, but it does not support buys in Russia.