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BackThe still young fintech industry widely associates with scam. Where there’s smoke, there’s fire. The first thing to do before engaging in any activity with any ICO or crypto exchange is to make sure they are legit. Is CoinMetro legit?
CoinMetro is one of the safest havens in the stormy crypto seas. A fully-licensed fintech company, we’ve always been regulation-driven, seeking legitimacy and successfully representing it.
How does it benefit you?
Scam in FinTech
FinTech has revolutionized financial services. It introduced instant payments and crowdfunding among many other new products. Fintech companies have thus succeeded in breaking the dominance of financial service’s largest players.
However, with revolutionizing innovation comes an increased risk of scam. Scam-related scandals around ICOs and crypto platforms are stark reminders of the risks posed to the users in FinTech.
That’s why it’s important to always make sure that appropriate regulation and compliance processes are in place.
Is CoinMetro Legit?
Before we get into more detail on CoinMetro’s verification practices and more, here’s a list of what makes us stand out in the crypto scene:
- CoinMetro is a licensed EMI agent. This license allows us to operate and offer third-party and payments in both crypto and fiat.
- We helped the capital market authority in Montenegro to create a regulatory framework for a sandbox… so we could sit in that sandbox and offer security assets.
- CoinMetro is a registered member of AUSTRAC in Australia.
- Our exchange is also registered with the FinCEN in the USA.
- We hold EU-issued licenses for fiat-crypto wallet services and crypto-crypto exchange. The process of obtaining similar licenses is very demanding. It can take up months of scrupulous paperwork and auditing. But there’s no shortcut when it comes to legitimacy.
- The CoinMetro team helped the Estonian government rewrite laws around the crypto licensing criteria with the aim of making the crypto market more transparent.
CoinMetro’s Verification Practices
Unlike many other exchanges, CoinMetro intends to be a compliant bridge over continents and borders of crypto and fiat currencies. To ensure that, we remain compliant with the latest banking verification requirements.
Money laundering and terrorist financing combating as well as KYC and KYT are very important processes here at CoinMetro.
AML
This abbreviation stands for Anti-Money Laundering. AML ensures that no money is being laundered or washed through our products and services. Nor used to hide criminal origins or to avoid taxation.
CTF
CTF means Counter-Terrorism Funding. This set of regulations and procedures will guarantee to zero out the use of assets from transactions to fund terrorism or other illegal activities.
KYC/KYT
Know-Your-Customer, or KYC, is a set of internal rules and procedures. This practice helps to verify the identity, suitability, and risks involved in maintaining a business relationship.
Know-Your-Transaction (KYT) gives a clear point of reference on where the transaction came from or where it is going.
These verification practices are prescribed by the local Money Laundering and Terrorist Financing Prevention Act, EU AML Directive, and FATF. Being a regulated exchange, CoinMetro follows regulations and is in line with the necessary regulations’ amendments.
KYC is Your Friend
To become a fully-registered CoinMetro user, you need to complete the KYC verification process. It is very well planned and designed.
We recommend not to avoid it as KYC is your friend indeed. It is vital to the integrity of your account. With KYC, we are able to properly document the account and who it belongs to.
Find out more about why KYC verification matters in our article Why is Profile Verification Important?
The Main Benefit
The main benefit is that you can trade crypto with absolute peace of mind.
A regulated crypto exchange that operates a verification policy is a legal and transparent financial product. CoinMetro is trusted!
What’s Next?
Here’s a hint from our CEO Kevin Murcko:
“Future plans are stretching even further. We have a few more tricks up our sleeves and are going to be pursuing further licensing to offer an even wider range of solutions for our customers and partners. We will announce the plans in the next month or so.”
CoinMetro – a Legit Gateway to FinTech
Join CoinMetro to become part of the highly innovative and legit FinTech. Trade crypto and enjoy a wide range of fintech products with us safely and profitably.