OPNX has received a crypto trading license in the EU space of Lithuania
Crypto exchange OPNX has received a virtual asset service provider license (VASP) in Lithuania, allowing it to offer space throughout the European Union, according to an announcement on November 8 by Cointelegraph.
The announcement stated that this license is required for the exchange to “comply with the highest compliance and security standards.” The group said it implemented “robust” Know Your Customer and anti-money laundering measures to ensure compliance with EU regulations.
“Securing the VASP license from the Lithuanian authorities is an important milestone in OPNX's global expansion and our mission to serve crypto users around the world,” said OPNX CEO Leslie Lamb.
In a conversation with Cointelegraph, Lamb explained that some OPNX services may still not be available in some regions in the EU. “This license gives us the ability to serve the European region, but there are specific jurisdictions in the EU that require special licenses to operate certain services,” she said, adding that OPNX is currently trying to obtain the licenses. However, the current license allows OPNX to provide space trading services across Europe, with other services available as additional licenses are obtained.
Related: 3AC Founders Says OPNX Exchange Supported by AppWorks, SIG
OPNX has been a controversial exchange since its inception. It was founded by Kyle Davies and Su Zhu, who founded the bankrupt crypto exchange CoinFLEX along with Mark Lamb and Sudu Arumugam of the bankrupt crypto hedge fund Three Arrows Capital (3AC). Because of these early losses, OPNX critics say the exchange is safe to use. However, he said the exchange is helping bankruptcy creditors sell bankruptcy claims and get them paid faster.
