Bitstamp cryptocurrency exchange leaves the UK and transfers customer accounts to Luxembourg

Bitstamp is one of the oldest cryptocurrency exchanges in the UK and the market in general – is leaving London after eight years of operation.

The exchange notes that this decision will not affect customer service. They also don’t have to do anything. The process of the account migration will be announced upon completion. In the future, they will be subject to the service and privacy policies of the Luxembourg branch.

“In order to comply with our regulatory requirements and improve our operational efficiency, we are migrating the accounts of our customers from Bitstamp Limited to Bitstamp Europe SA., our business entity based in Luxembourg.”

Bitstamp Limited was registered on July 25, 2012, while Bitstamp Europe SA – in 2016.

As noted by Trustnodes, the most probable reason for this decision is the expected failure of negotiations on the UK’s exit from the European Union. The EU’s chief Brexit negotiator Michel Barnier said Friday:
“The EU and the UK are likely to be unable to reach an agreement. I do not understand what we continue to waste precious time with such an attitude of the British side. ”

According to Messari, Bitstamp’s trading volume in the last 24 hours was $168 million, making it the seventh-largest trusted exchange.
It should also be said that the exchange has been approved for the national license after being signed by Luxembourg’s Minister of Finance. In this way, it becomes the first fully licensed European Bitcoin exchange.

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