LCX Receives Licenses From the Financial Market Authority of Liechtenstein

The Liechtenstein Cryptoassets Exchange, LCX, secured approvals of eight license categories under the the Token and Trusted Technology Service Provider Act (TVTG), which makes it one of the first cryptocurrency platform to achieve this important regulatory milestone in Liechtenstein, allowing LCX to offer the broadest scope of blockchain services.

LCX is proud to announce that it has become the first cryptocurrency platform to receive approvals for eight license categories from the Financial Market Authority (FMA) of Liechtenstein. To date, LCX has been operating under the transitory provisions of the Blockchain Act and has worked closely with the regulator to satisfactorily complete the assessment process. 

LCX AG, the legal entity owning and operating platform, has received the regulatory approval to operate the following services:

  • TT Exchange Service Provider
  • TT Token Depositary
  • TT Key Depositary
  • TT Price Service Provider
  • TT Identity Service Providers
  • Token Generator
  • Token Issuer on its own
  • Token Issuer on behalf of the clients

LCX aims to offer a full range of services in accordance with the scope and the definitions of the Lichtenstein Blockchain Laws.

“We have a long-standing commitment to building a fully regulated safe and reliable business while delivering a seamless user experience. Being one of the first cryptocurrency platforms to receive the Liechtenstein blockchain licenses is an important milestone. We look forward to rolling out additional compliant and innovative products and services in 2021,” says Monty C. M. Metzger, CEO and Founder at LCX. 

The Liechtenstein Blockchain Act officially known as the Token and Trusted Technology Service Provider Act (TVTG) has entered into force on Jan. 1, 2020. Liechtenstein has been among the first countries worldwide to introduce a comprehensive regulatory framework for the blockchain industry, oncompasing definitions and specific requirements applicable for different service providers and the assets, products and services they offer. The Liechtenstein blockchain laws use the term Trusted Technology (TT) as a hypernym of distributed ledger technology (DLT), blockchain technology, cryptocurrency or digital assets.

Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *