South Korean Crypto Exchange CoreDax Receives MSB License to Enter Overseas Markets

It is reported on June 21, South Korean cryptocurrency exchange CoreDax claimed that it has obtained an MSB (Money Services Business) license from the Financial Crimes Enforcement Bureau (FinCEN) under the U.S. Department of Finance.

MSB is a financial license supervised and issued by FinCEN. Those who provide financial services in the United States including cryptocurrencies and must obtain licenses under the U.S. Federal Rules (31CFR1022.380(a)-(f)) and the Bank Secrecy Act. Businesses and enterprises related to currency services such as trading in currencies, cryptocurrencies and many more, foreign exchange, international money transfer and other business are the main subjects of restriction.

CoreDax is propelling cryptocurrency remittance and settlement services with the aim of joining overseas cryptocurrency markets such as the United States. With the “All States/All Territories” MSB license obtained on June 15, the exchange can provide cryptocurrency services in all states and territories of the United States.

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