Happy Monday,
Bitmora is launching in a very new sector of FinTech, and as with any new technology, uncertainty can play a major role in both very well established companies, and startups. Last Wednesday, March 7th the SEC announced that all cryptocurrency exchanges which are not registered with the SEC that trade coins they deem securities are illegal. This announcement has affected every single major cryptocurrency exchange, as well as us.
This was hit to all cryptocurrency exchanges that operate in the United States. The cryptocurrency community has known this day would come eventually, and the Bitmora Team had always had a plan for when it did. To continue listing tokens in which the SEC may deem a "security," the SEC will require us to register as an exchange and/or broker-dealer. We are pleased to announce that Bitmora will be taking the first steps to registering with the SEC and become fully compliant with US laws. Once registered, the Bitmora Exchange will be one of the first fully registered and regulated cryptocurrency exchanges in the United States. In addition to registration, Bitmora will still follow its internal guidelines for new token listings and ICOs.
Bitmora will keep you updated over the coming weeks and will release public record documentation of registration on their website when ready.
For more information, please read here:
https://www.sec.gov/news/public-statement/enforcement-tm-statement-potentially-unlawful-online-platforms-trading- Colton Brister