• BTSE

Information on BTSE's Licensing



It has come to our attention that some of our users would like to learn more about BTSE and how we operate as a company. As always, we are happy to oblige, and we encourage you all to engage us in conversation through any of our social channels if you need clarification. In the following, we will address a number of questions that have been raised in regards to the BTSE Exchange.


Licensing

BTSE UAE, including BTSE Commercial Brokers L.L.C. (Registration No.: 814684) and BTSE Payment Services Provider (Registration No.: 814678), are licensed by the Department of Economic Development, Government of Dubai and are under the regulations of the Central Bank of the United Arab Emirates. BTSE UAE is qualified to conduct activities such as payment services legally in accordance with their business licenses as you may review on the official homepage of the Department of Economic Development in Dubai: https://eservices.dubaided.gov.ae/Pages/Anon/CompLookup.aspx


The major mission of BTSE UAE is to provide relevant services to support the crypto exchange business of BTSE BVI, i.e., BTSE Holdings Limited (Registration No.: 2023577), which is a company incorporated in the British Virgin Islands and owning and operating the BTSE VFA Exchange Platform, as we already addressed in our Terms and Conditions. As long as the digital assets traded on BTSE do not meet the definition of “investment” under the Securities and Business Act of the BVI, such crypto exchange business does not require a license in the British Virgin Islands. None of the transactions on BTSE could be considered to be an “investment”. Nonetheless, BTSE still devotes huge amounts of time, effort, and other resources to comply with the AML regulations in UAE and BVI, including but not limited to setting up different teams across different jurisdictions to conduct comprehensive compliance work from the perspectives of KYC, risk disclosure, consumer protection, and technology governance, among others. Since the first day of BTSE’s operations, we have followed the highest standards of compliance and internal controls to make sure our platform as well as users’ assets are fully protected.


BTSE works across multiple entities in accordance with the respective regulations to facilitate the services we want to provide to our users. The BTSE Exchange represents one vertical of the work we do at BTSE; we believe that in order to progress into a new financial standard, it is important to cover and elevate various financial services. As such, BTSE is developing various features and services, including a cryptocurrency debit card for BTSE users. Different services require different licenses, and to continue to be compliant with the law and regulations, we will continuously update and obtain the required licensing as needed.


We did not expect what we mentioned on our website or in other marketing materials will create confusion regarding our operation. We will update our website shortly to add more clarity and pay more attention going forward in order to avoid similar confusion. Again, you are always welcome to discuss any of your questions or concerns with us through our social channels. We are always happy to have conversations with you and address any issue you may have.


Accessing BTSE.com From Within Dubai

It was brought to our attention that website visitors from Dubai are not able to see the BTSE footer. We apologize for this inconvenience and the worry this may have caused you. This lack of information in the footer originated in an oversight during a website update, which affected a number of locations. It has now been fixed, and you are able to view the website footer from any location.



As a business operating in a very young industry, we understand and value the importance of maintaining an open conversation with regulators and lawmakers alike, which is why we as BTSE evolve together with the regulatory framework in which our company operates.


As new relevant information comes to light regarding regulations and the licensing of BTSE, you may notice our website to reflect this. The cryptocurrency space is an ever-evolving one, and regulatory bodies have their work cut out for them in navigating these new waters. We will remain diligent when updating our users of any changes, and we fully encourage you to reach out to us should anything seem unclear. It is a priority of ours to always remain transparent in our business practices.

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