London-based B2C2 receives regulatory approval from Luxembourg’s CSSF
B2C2, a liquidity provider based in London, has obtained regulatory approval from Luxembourg’s Financial Sector Supervisory Commission (CSSF) to operate as a virtual asset service provider (VASP). This new authorization, granted on January 26, allows B2C2 to expand its cryptocurrency liquidity services to institutional clients within the European Union. With this approval, B2C2 becomes the twelfth entity registered on the CSSF’s public list.
Expanding into Luxembourg ahead of MiCA regulation
This approval comes at a crucial time as the European Union prepares for the implementation of the Markets in Crypto Assets (MiCA) regulation. MiCA aims to establish the EU as the first major jurisdiction with a comprehensive regulatory framework for the cryptocurrency sector. B2C2’s strategic expansion into Luxembourg follows its acquisition of Woorton in Paris, which facilitated obtaining a license from France’s Autorité des Marchés Financiers (AMF).
B2C2 CEO highlights significance of VASP registration
Thomas Restout, B2C2’s group CEO, emphasized the importance of securing the VASP registration in Luxembourg. He acknowledged the growing virtual asset community in Luxembourg and expressed B2C2’s eagerness to contribute to its development. Denzel Walters, with his regulatory expertise from the Bank of England and other financial institutions, has been appointed to lead B2C2’s division in Luxembourg.
Expanded operational scope and enhanced offerings
The CSSF’s approval expands B2C2’s operational scope, allowing it to offer a wide range of exchange services between virtual assets and fiat currencies. This broadens its capabilities in the digital asset market and enhances its offerings to institutional clients. B2C2 recently introduced a new secure web interface for its OTC cryptoassets traders, enabling real-time execution of trades on a two-way market. This development is particularly advantageous for hedge funds, institutional investors, and high-net-worth individuals engaged in OTC cryptocurrency trading.
Hot Take: B2C2 secures regulatory approval in Luxembourg, positioning itself for growth
B2C2’s regulatory approval from Luxembourg’s CSSF paves the way for the company to expand its cryptocurrency liquidity services to institutional clients within the European Union. With the impending implementation of MiCA regulation, this approval comes at a critical time. By broadening its operational scope and enhancing its offerings, B2C2 is well-positioned to participate in the evolving digital asset landscape. The appointment of Denzel Walters, with his regulatory expertise, further strengthens B2C2’s operations in Luxembourg. Overall, this regulatory approval sets the stage for B2C2’s continued growth and contribution to the development of the virtual asset community in Luxembourg.
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