Gate US, the US arm of Gate io, announced that it has received licenses to operate in several US states.
After FTX,US, the US arm of FTX, went bankrupt in early November, there was a huge gap in the market. Many crypto exchanges are revamping their corporate strategies to untangle the liquidity crisis. Gate US, the US arm of Gate.io, is also joining other exchanges by registered volume in the US, such as Coinbase, Kraken, Binance US and Gemini, in order to grow.
Gate io Expands US Services
Gate US says it has received a money service operating license from FinCEN, as well as licenses to operate in “several” US states, until its local launch.
Gate.io founder and president Dr. Lin Han said in a statement on December 19; Gate US has announced that it is now registered as a money services business with the Financial Crimes Enforcement Network (FinCEN), the nation’s money laundering and financial crimes watchdog.
Han added that the exchange has acquired some money transmission licenses or the like to operate and is currently working to acquire more.
Gate US did not disclose from which states it was licensed and said that it has not yet accepted users from the country at this stage. However, its terms of use state that it will not be open to residents of New York, Hawaii, and Puerto Rico.
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