In Europe, OPNX Obtains VASP License in Lithuania
If you’re following Open Exchange (OPNX), you’ll be interested to know that they recently announced their achievement of obtaining the Virtual Asset Service Provider (VASP) license in Lithuania, a country in the Baltics. This is a significant regulatory milestone for the exchange.
Commitment to Security and Compliance
The team at OPNX is committed to adhering to the highest standards of security and compliance. They have robust KYC and anti-money laundering systems in place. This VASP license allows OPNX to offer their services in the European region, although there may be additional licenses required for specific services within certain jurisdictions in the EU.
Founders’ Background and Reputation
You may be aware that the founders of OPNX, Kyle Davies, Su Zhu, Mark Lamb, and Sudhu Arumugam, have been associated with previous ventures such as Three Arrows Capital (3AC) and CoinFLEX. Due to the bankruptcy of these ventures, OPNX’s reputation has been viewed skeptically by many.
Hot Take: Mixed Reactions to OPNX’s Regulatory Milestone
While OPNX’s achievement of obtaining the VASP license in Lithuania is a significant regulatory milestone, their founders’ previous involvement with bankruptcies has led to skepticism about the exchange’s reputation within the crypto community. It remains to be seen how this latest development will impact OPNX’s standing in the industry.
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