Post
Topic
Board Announcements (Altcoins)
Re: [ANN] - BITSFOX.com - pretty good cryptocurrency exchange + BFB investment token
by
TimeTeller
on 22/04/2019, 04:37:08 UTC
And another thing to consider here, where is your exchange legally registered?
I know that's a classic question, but it is very important in gaining the credibility of your exchange.
Hundreds of exchanges are now existing and it is better to deal with few of them that you know will not be a problem in the future.

I understand well the concerns of many people who ask this question. The fact is that at the time when our project was half ready, the government of our country banned the use of cryptocurrencies and it became impossible to register the company. (At the moment we are based in Russia). Moreover, we planned to start working with Fiat currencies, because we understand that without this it will not be possible to provide a good user experience and there will be little liquidity. But it was too late to retreat and we decided to register a company in England or Estonia and even got advice from one of the companies that will help us in this. So far we are dealing only with cryptocurrencies and we do not violate the law. It was sad to see how many people wanted to invest in our exchange Fiat funds, but could not do it because they do not know how to buy bitcoins. I hope that in a month we will be able to brag of full legal purity of our business and users will trust us

Okay, appreciate your honesty here.
Hopefully, you will get your legal documents before you become a full-blown cryptocurrency exchange with so many traders on board.
I'm not saying that something might happen in the future, but this is a good assurance for your investors if you can boast your legitimacy to them.