Why do other exchanges handling FIAT currencies not ask about such matters?

The BitBay exchange is a regulated exchange holding an Estonian licence for “Providing a virtual currency service”. As a result, the exchange is subject to the rules of the Estonian jurisdiction.

The operations of the BitBay exchange are undertaken on the basis of AML regulation, namely the Estonian Act on Prevention of Money Laundering and Terrorist Financing of 26.10.2017. However, national rules in the European Union are based on EU regulations (AML directives IV to VI).

We cannot answer for other entities. We are not suggesting, of course, that they are not in compliance with the regulations.

However, we believe that the approach we represent has allowed us to stay on the market for the entire period from the time we became subject to the regulations until now.