Crypto Exchange CEX.IO Expands US Service to Cover 31 States

Cryptocurrency exchange CEX.io now operates in 31 U.S. states and the District of Columbia.

Since launching a U.S. office early in July, the London, U.K.-based firm says its compliance team has been working with regulators to satisfy the required checks and audits and be granted money transmitter licenses in the new states.

Following that effort, the company says it's been granted seven new licenses, bringing its total to 15, including Alaska, Florida, Georgia, Iowa, Kansas, Maryland, New Hampshire, New Jersey, New Mexico, Oklahoma, Oregon, Rhode Island, South Dakota, Vermont, and West Virginia.

Alexander Kravets, CEO of CEX.io US, said:

“Our mission is to become fully approved and regularly audited license holders, while facilitating CEX.IO's US growth under a transparent and regulated umbrella. Within less than a month, we’ve managed to collect MTLs in seven more states, and we’re not stopping here. The goal is to cover all 50 states and roll out new products uniquely tailored to each.”

The firm further operates in 16 states that do not require exchanges to be licensed as money senders: Arkansas, California, Colorado, Indiana, Kentucky, Massachusetts, Michigan, Missouri, Montana, Mississippi, North Dakota, Pennsylvania, Utah, Virginia, Wisconsin, Wyoming.

CEX.io first launched exchange services in some states in the U.S. back in 2015.

In other news, CEX.io said that it has recently received a distributed ledger technology license from the Gibraltar Financial Services Commission (GFSC).

Discussing the licensing effort, Oleksandr Lutskevych, CEO and founder of CEX.IO, said that, "It takes lots of time and resources, but we are successfully building a solid foundation as a trustworthy platform for customers from all over the world who want to work with digital assets in a legal, transparent way.”

U.S. map image via Shutterstock