Bitfinex is a cryptocurrency exchange platform based in Hong Kong. It was founded in 2012 and is one of the largest and most popular digital asset exchanges in the world. It offers trading in Bitcoin, Ethereum, Litecoin, and other digital assets. Recently, Bitfinex has come under scrutiny for its lack of transparency and possible connections to fraudulent activities.
What legal framework does Bitfinex operate under? What regulatory oversight is Bitfinex subject to?
Bitfinex operates under the laws of the British Virgin Islands. It is regulated by the BVI Financial Services Commission. However, the company's operations are not subject to any further regulatory oversight or monitoring from any other government or financial institution. This means that the company is not obligated to follow any of the anti-money laundering regulations that apply to other financial institutions.
What legal framework does Bitfinex operate under? What regulatory oversight is Bitfinex subject to?
Bitfinex operates under the laws of the British Virgin Islands. It is regulated by the BVI Financial Services Commission. However, the company's operations are not subject to any further regulatory oversight or monitoring from any other government or financial institution. This means that the company is not obligated to follow any of the anti-money laundering regulations that apply to other financial institutions.
