Coinsquare Aims to License StellarX
February 15 2019 - 1:18PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
February 15, 2019 -- ADVFN Crypto NewsWire -- Licensing any crypto
exchange is far from easy. Even though Coinbase is licensed as a
money transmitter in most of the United States, some, like Florida,
are still resisting the company’s attempts to become legally
available in every area of the United States.
In a global context, most of the
crypto exchange services that are considered to be fully regulated
are licensed in small island nations like Malta, Bermuda, and even
Gibraltar. While the rise of Malta and Gibraltar has been more
recent, Bermuda seems to have had a reputation of being hands-off
with regards to investments for quite some time.
With that in mind, Coinsquare
represents the most recent addition to the pack of crypto companies
that continue to head to sandier shores to register and license
their operations. According to CoinDesk, Coinsquare acquired
StellarX, which represents the chief decentralized exchange based
on the Stellar protocol, today, and announced that it would be
moving it to Bermuda.
Reportedly, the aim behind doing so
is to be able to quickly license the exchange and start to build
different services that connect to it to position Stellar as the
leading payment network in the world over time. Working in their
favor is their reported decision to keep StellarX operating as it
always has been to preserve whatever decentralization that it has
achieved.
On the other hand, what is still
uncertain is how much control CoinSquare might exert over the DEX
as time goes on, due to the fact that their idea of letting
StellarX operate as it always has been means calling it a brand.
Brands are usually owned by holding companies and therefore, by
definition, cannot be considered decentralized.
Considering this, in the end, the
only decentralized part of StellarX might be the fact that no
central authority makes money from fees that are imposed on the
network.
By: BGN Editorial Staff
Stellar Lumens (COIN:XLMEUR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Stellar Lumens (COIN:XLMEUR)
Historical Stock Chart
From Aug 2023 to Aug 2024
Real-Time news about Stellar Lumens (Cryptocurrency): 0 recent articles
More Stellar Lumens News Articles