Post
Topic
Board Bitcoin Discussion
Re: Unlicensed Exchangers
by
beerlover
on 15/08/2016, 06:35:36 UTC
Why do the people still use unlicensed exchangers like Kraken, Xapo, BTC-e, Okcoin, BTC China, Bitfinex and many others? All of them are out law and they can be closed anytime and your money lost...

This is only the most recent example but there are so many like: http://www.coindesk.com/men-plead-guilty-running-unlicensed-bitcoin-exchange/

Because they don`t have choice.Bitcoin is still illegal in some countries.

I don`t know is it possible for a cryptocurrency exchange platform to get a license.

see Coinbase, Gemini, ItBit, Circle. all these got licenses, so it's possible if you really want to run a legit business Smiley
Depends on the country where the exchanger is running it's operation.
See those exchangers that you have listed all run in the US, where bitcoin is officially considered a legal currency and laws apply to it which is why they are required to have license.