Bitstamp to Move Clients’ Accounts From London to Luxembourg

Cryptocurrency exchange Bitstamp informed CoinDesk it will certainly move its customer accounts from its London-based Bitstamp Limited to its entity in Luxembourg. Yet operations at Bitstamp Limited will certainly not be impacted by this choice, according to the business.

” [This is] a move that has actually been prepared for months,” Vasja Zupan, primary operating police officer of Bitstamp, validated with CoinDesk in an e-mail reaction. “This does not involve any kind of relocation or adjustment in operations, personnel or workplaces.”

The exchange presently has three physical locations around the world, according to its internet site. The exchange, Bitstamp Ltd., remains in London, while its payment organization, Bitstamp Europe S.A., where the accounts will certainly be relocating, is based in Luxembourg. Bitstamp also has its workplaces in New York.

The exchange was granted a permit to operate as a completely controlled repayment organization in Luxembourg in 2016, in an effort to broaden its crypto trading service throughout the European Union.

At press time, Bitstamp had not replied to CoinDesk’s follow-up inquiries regarding the reason it relocated accounts from London to Luxembourg, but TrustNodes reported on Aug. 21 it was likely because of a boosted chance of a “no deal” Brexit in between the European Union and also the U.K.

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