YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Crypto Ecosystem GLEEC Secures Ninth Regulatory Approval

October 12, 2022
in Regulations
Reading Time: 2 mins read
A A
Crypto Ecosystem GLEEC Secures Ninth Regulatory Approval
ShareShareShareShareShare

You might also like

Seven bombshells from the SEC’s Coinbase suit

Seven bombshells from the SEC’s Coinbase suit

June 7, 2023
Binance CEO CZ ‘Banks are a risk to fiat-backed stable coins’ in reaction to SVB, USDC Depegging

Binance, Coinbase CEOs together lost $1.7B of personal wealth after SEC charges

June 6, 2023

GLEEC has just secured its ninth approval from financial regulators. The latest jurisdiction to license the crypto services platform is Estonia.

The Eastern European nation joins the likes of Dubai, El Salvador, Poland, Slovakia and others in approving the platform to operate. With regulators’ blessings coming from a growing list of countries, the exchange is making all the right moves to take on the industry’s more established names.

GLEEC wins over Estonian financial regulators

In an industry facing mounting scrutiny from financial regulators, crypto exchanges are increasingly searching for friendly jurisdictions to grant them approval to operate. Although, for now, some trading venues remain outside regulatory oversight, others are keen to demonstrate compliance.

Among them is GLEEC, a British Columbia-based exchange offering more than 100 crypto trading pairs. According to FinanceFeeds,  the platform has just received a license from Estonia’s Financial Supervisory Authority, known locally as Finantsinspektsioon.

A post to the Estonian regulator’s website details the services the company can provide in the jurisdiction. They include the distribution of electronic money, money remittance and cash withdrawals from payment accounts.

GLEEC might not have the same instant recognizability as some of the crypto industry’s biggest names like Coinbase and Binance, but the platform has been quietly building out its services since its 2017 launch. In addition to the exchange itself — often referred to as GLEEC BTC —  the platform offers its own secure digital asset wallet, a play-to-earn video game via a partnership with the world-leading racing team Buggyra Racing, a Visa-compatible payment card, and a fully-digital bank account via its GLEEC Pay service.

Like many other crypto exchanges, GLEEC also has an ecosystem token. Gleecoin is deployed on the Komodo Smart Chain and can be used to top up the GLEEC Visa Card to pay for goods and services. In addition to GLEEC’s own centralized and decentralized exchanges, Gleecoin trades at world-renowned platforms, including Bittrex and HitBTC.

Stating that GLEEC hopes to obtain approval from additional global regulators going forward, the platform’s CEO Daniel Dimitrov added:

“We aim to create a crypto ecosystem with a balanced regulatory framework.”

Another regulatory blessing for GLEEC

Estonia is the latest in a growing list of jurisdictions within which GLEEC is authorized to provide services. The platform has previously obtained similar approvals across Latin America, Europe and the Middle East.

Five of the licenses enable the company to offer only crypto services. They include approvals from Dubai regulators to provide cryptocurrency trading and El Salvador to offer BTC custody, wallet services, facilitate trades and process crypto payments. GLEEC also has the approval to offer similar crypto services in Slovakia, Poland and Lithuania.

Meanwhile, a license obtained in Canada permits the company to act as a money services business and provide foreign exchange, the redemption of money orders and to deal in digital currency. Finally, regulatory approval in Ukraine permits GLEEC to offer banking services in the nation.

Credit: Source link

Related Stories

Seven bombshells from the SEC’s Coinbase suit
Regulations

Seven bombshells from the SEC’s Coinbase suit

June 7, 2023
Binance CEO CZ ‘Banks are a risk to fiat-backed stable coins’ in reaction to SVB, USDC Depegging
Regulations

Binance, Coinbase CEOs together lost $1.7B of personal wealth after SEC charges

June 6, 2023
SEC requests restraining order to temporarily freeze Binance.US assets
Regulations

SEC requests restraining order to temporarily freeze Binance.US assets

June 6, 2023
Coinbase CEO Brian Armstrong hits back at SEC lawsuit on social media
Regulations

Coinbase CEO Brian Armstrong hits back at SEC lawsuit on social media

June 6, 2023
Next Post
Bitcoin Mining Software, Stratum V2, to Receive an Important Update – crypto.news

Bitcoin Mining Software, Stratum V2, to Receive an Important Update – crypto.news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FBI urges caution with cryptocurrency scams on the rise – 9News.com KUSA

Scammers offer hacking services on government websites … – Cryptopolitan

June 4, 2023
FBI urges caution with cryptocurrency scams on the rise – 9News.com KUSA

The Term Sheet monthly wrap: Biggest deals, funding rounds, and top stories – Fortune

June 2, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 26,845.00 4.16%
    • ethereumEthereum (ETH) $ 1,878.18 3.58%
    • tetherTether (USDT) $ 1.00 0.01%
    • bnbBNB (BNB) $ 278.14 0.55%
    • usd-coinUSD Coin (USDC) $ 0.998903 0.06%
    • xrpXRP (XRP) $ 0.532701 4.22%
    • staked-etherLido Staked Ether (STETH) $ 1,877.67 3.54%
    • cardanoCardano (ADA) $ 0.344348 2.23%
    • dogecoinDogecoin (DOGE) $ 0.069647 4.39%
    • solanaSolana (SOL) $ 20.07 0.36%
    • matic-networkPolygon (MATIC) $ 0.805032 2.81%
    • tronTRON (TRX) $ 0.077467 1.41%
    • litecoinLitecoin (LTC) $ 90.38 3.57%
    • polkadotPolkadot (DOT) $ 5.17 1.94%
    • avalanche-2Avalanche (AVAX) $ 14.55 3.14%
    • binance-usdBinance USD (BUSD) $ 1.00 0.13%
    • shiba-inuShiba Inu (SHIB) $ 0.000008 0.1%
    • daiDai (DAI) $ 0.999504 0.14%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 26,869.00 4.02%
    • uniswapUniswap (UNI) $ 4.75 0.63%
    • leo-tokenLEO Token (LEO) $ 3.52 0.64%
    • chainlinkChainlink (LINK) $ 6.21 2.24%
    • cosmosCosmos Hub (ATOM) $ 10.03 0.3%
    • okbOKB (OKB) $ 45.18 1.34%
    • moneroMonero (XMR) $ 146.83 3.96%
    • the-open-networkToncoin (TON) $ 1.67 0.28%
    • ethereum-classicEthereum Classic (ETC) $ 17.31 1.56%
    • stellarStellar (XLM) $ 0.089004 1.04%
    • bitcoin-cashBitcoin Cash (BCH) $ 113.59 4.01%
    • lido-daoLido DAO (LDO) $ 2.37 7.99%
    • true-usdTrueUSD (TUSD) $ 0.999466 0.02%
    • internet-computerInternet Computer (ICP) $ 4.35 0.17%
    • filecoinFilecoin (FIL) $ 4.31 1.89%
    • quant-networkQuant (QNT) $ 115.87 3.95%
    • aptosAptos (APT) $ 8.12 1.43%
    • crypto-com-chainCronos (CRO) $ 0.059758 1.98%
    • hedera-hashgraphHedera (HBAR) $ 0.049212 0.2%
    • arbitrumArbitrum (ARB) $ 1.18 3.36%
    • nearNEAR Protocol (NEAR) $ 1.49 0.4%
    • vechainVeChain (VET) $ 0.018490 0.08%
    • apecoinApeCoin (APE) $ 2.98 1.27%
    • the-graphThe Graph (GRT) $ 0.116760 0.18%
    • paxos-standardPax Dollar (USDP) $ 0.999851 0.01%
    • fraxFrax (FRAX) $ 0.998388 0.1%
    • eosEOS (EOS) $ 0.885475 5.04%
    • algorandAlgorand (ALGO) $ 0.134404 1.76%
    • the-sandboxThe Sandbox (SAND) $ 0.514189 1.57%
    • rocket-poolRocket Pool (RPL) $ 48.76 3.06%
    • optimismOptimism (OP) $ 1.46 3.89%
    • elrond-erd-2MultiversX (EGLD) $ 36.21 1.13%