Licensed platforms are digital asset exchanges or service providers that operate under official regulatory approval from governmental authorities. These platforms adhere to specific legal and financial compliance requirements, including anti-money laundering and know-your-customer procedures. Obtaining a license typically involves meeting stringent capital, security, and operational standards set by regulators. Such authorization aims to provide consumer protection and legitimacy to cryptocurrency operations within a jurisdiction.
Context
The expansion of licensed platforms is a key indicator of increasing regulatory clarity and mainstream adoption of digital assets, frequently reported in financial news. Governments worldwide are establishing frameworks to oversee these entities, impacting market access and investor confidence. Discussions often center on the scope of licenses and the global harmonization of regulatory standards for digital asset services.
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