BTC Markets Got Financial Services License

BTC Market Got Financial Services License
  • ISO has certified BTC Markets for information security management.
  • BTC Markets has become an authorized representative.

BTC Markets, a cryptocurrency exchange operating in Australia has become the country’s first crypto firm to be issued a financial services license.

AFSL license by ASIC

According to an announcement, BTCM Payments has been issued an Australian Financial Services Licence (AFSL) by the Australian Securities and Investments Commission (ASIC). As a result of the license, BTC Markets will be able to offer digital assets payment.

As part of the licensing permits, BTC Markets has been appointed as an authorized representative. It took over two years for BTCM Payments license permission which was registered in August 2020, to be granted an AFSL by ASIC.

The International Organization for Standardization (ISO) has certified BTC Markets for information security management, and the country’s crypto industry organization, Blockchain Australia, has also certified the company.

Australia has a lack of rules and regulations in the country, crypto and digital asset companies are not required to have an AFS license to provide services. However, BTC Markets claims that the move will allow it to more attentively fill the gap between traditional finance and digital assets while offering new products to its users.

According to CoinMarketCap, BTC Markets has developed itself as a prominent player in the Australian crypto market, with a daily trading volume of $4.8 million.

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