BCX platform registered as the first provider of services related to virtual currencies with the Securities Commission of the RS
On 31.01.2023. Balkan Crypto Exchange (BCX), a brand of the company Digital Assets Management, is registered in the
Registry of service providers associated with virtual currencies (cryptocurrencies) at the Securities Commission of the Republic of Srpska. With this, we also received the certificate as the first providers of services in BiH related to virtual currencies on the official website of the Securities Commission.
Namely, a few days earlier, on January 17, 2023, the Securities Commission published the Rulebook on the records of service providers related to virtual currencies, which regulates the way of keeping, content and form of records of all service providers that operate with virtual currencies. All legal entities operating in this way have the possibility to submit a request for entry in this record and to submit it to the Securities Commission. This record implies that all those engaged in this business are required to report to the Securities Commission in order to be recorded. The regulations for registration in this record are publicly available for download on the website of the Securities Commission, and its role is to, after the law is passed, additionally regulate this area and thus provide all investors with insight to know exactly who they are doing business with.
Virtual currencies are legally regulated by the Law on Amendments to the Law on the Securities Market, which entered into force on October 5, 2022. years. Thanks to this law, a regulatory framework for the field of digital assets was created and the first step towards creating legal certainty and transparency for investors and users of digital assets was taken. The next step was the formation of the Registry of service providers related to virtual currencies, where we were registered as the first and largest platform for buying, selling, exchanging, transferring or storing virtual currencies (cryptocurrency).
Some of the good sides of this record are the warning of investors about the risk of investment as well as the fulfillment of the conditions prescribed by the law on the prevention of money laundering. The goal is to enable safe and transparent trading of virtual currencies and prevent the development of the black market. With this, we protect potential investors and advise them that before they decide to invest in virtual currencies, they must check how safe and reliable the platform they will use is. Now the check itself will be easier because the insight into the records of the service provider will be public, available to everyone. Also, this certificate confirms all the services provided by BCX, which you can read in the certificate above this text.
Our goal is to provide all our users with safe trading and exchange of virtual currencies on our platform, and the entry in this record is just another confirmation that we are a verified platform that operates in accordance with the law and rules related to this new and promising , an area in our region.