Hotcoin Global: An Australian-based platform with dual licenses, committed to ensuring global compliance all the way

By February 7, 2024 No Comments

Ensuring compliance on encrypted trading platforms is not only about following regulations, but also about promoting market transparency and fairness for users. To encourage standardized and organized trading activities in the cryptocurrency market, and to provide security for assets and transactions of cryptocurrency investors, some countries have implemented explicit supervision and management of cryptocurrency trading and operations. Obtaining a license has become a recognized symbol for cryptocurrency trading platforms.

Hotcoin Global, a all-in-one user-friendly cryptocurrency asset platform, has been dedicated to embracing regulation and following a global compliance development path since its establishment in 2017. In early 2019, it obtained the Australian Austrac double licenses for trading and foreign exchange, as well as the US MSB license, and has successfully completed annual reviews for consecutive years.

Hotcoin Global has obtained an AUSTRAC license

The Australian AUSTRAC license is currently one of the most authoritative cryptocurrency licenses and has become a global standard for cryptocurrency trading institutions. AUSTRAC stands for the Australian Transaction Reports and Analysis Centre, which is the 

financial intelligence unit of Australia. It is responsible for supervising financial transactions in Australia and combating money laundering, terrorist financing, and other financial crimes.

The AUSTRAC license allows for activities such as digital asset exchange, remittance services, cryptocurrency trading, and cryptocurrency wallet services in Australia. Hotcoin Global, with this license, not only establishes its global compliance strategy, but also provides a solid guarantee for offering safer and more legitimate cryptocurrency-related services to its global users.

Hotcoin Global holds a US MSB license

In addition to the AUSTRAC license, Hotcoin Global has also obtained the MSB license in the United States in recent years, marking another significant milestone in its journey towards compliance and global expansion.

The MSB license is a type of financial license (MSB: Money Services Business) regulated and issued by the U.S. Department of the Treasury. It primarily applies to businesses and companies involved in financial services. It covers transactions related to digital currencies, virtual assets, ICOs, foreign exchange, international remittances, and other related activities. Well-known trading platforms like Coinbase, Huobi, and Binance also hold the MSB license. Obtaining the MSB license will help Hotcoin Global gain the trust of global investors through regulatory compliance and successfully execute its global operational strategy.

“Hotcoin Global has always considered compliance and globalization as the foundation for future development. Our mission is to create a secure, transparent, regulated, and trustworthy environment for cryptocurrency trading. In recent years, we have strengthened our internal compliance framework and allocated more resources to our global legal and compliance teams. Our professional legal team, well-versed in local laws and regulations, has played a crucial role in continuously applying for and obtaining relevant cryptocurrency licenses for Hotcoin Global, while also mitigating legal risks. This is especially important considering the variations in cryptocurrency asset exploration and policies across different countries and regions globally.”