We received the "Providing a virtual currency service" license
We are proud to announce that BitBay is the only crypto-fiat exchange which fulfilled the new licensing requirements in line with the amendments of The Estonian Money Laundering and Terrorist Financing Prevention Act of 10 March 2020. We have undergone a series of detailed audits, and as a result, we received a consolidated license "Providing a virtual currency service." The regulator confirmed, among others, compliance of our AML / KYC procedures with the guidelines.
A total of 1,447 entities from the crypto industry were verified. Only 198 companies keep their licenses, including BitBay.
Positive evaluation of our work is vital for the legal stability of the business and allows us to focus on the platform's development.
In recent months, we have introduced a few new options, including:
- credit and debit card deposits with Visa and Mastercard,
- USDT listing and new markets.