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Bringing Crypto Global Through Compliance and Innovation

Updated May 20, 2024, 7:32 p.m. Published May 20, 2024, 7:29 p.m.
CoinW - May
CoinW - May

The crypto industry has gone mostly unregulated for the majority of its existence. While the lack of regulation allowed many companies to build quickly, it also created opportunities for bad actors alongside the good. As the industry continues to mature, so does the regulatory environment around it.

Today, meeting regulatory compliance is not only a necessary step for any crypto exchange to operate internationally, but also an expectation and assurance for users looking to trade on any platform. In either case, the prioritization of compliance can be a make-or-break decision for any company in the industry.

Through a deep-rooted commitment to compliance and remaining ahead in licensing in key geographical areas like Dubai and Australia, CoinW has been able to become a global leader and innovator in this space.

Innovating through compliance

For CoinW, compliance isn’t a requirement, but a way of doing business as they always have. Specifically in the realm of crypto, compliance involves regulating AML, overseeing the issuance of stablecoins and mitigating market fluctuations by standardizing leveraged. Operating for over six years and serving millions of users across 200 countries, CoinW has gained a well-deserved reputation among its community and strong international support by prioritizing compliance.

Rather than reacting to regulations, this proactive approach to compliance not only provides assurances to users, but also gives them a better trading experience. Instead of worrying about upcoming regulatory changes, CoinW can focus on innovating its trading experience and providing new and unique user experiences.

Currently, CoinW is holding a Champion’s Arena trading competition with $1 million in prizes up for grabs. As one of the biggest and most important trading competitions of the year, the Champion’s Arena is pitting long-standing users, recent adopters and everyone in between against each other at record numbers. Two weeks after the event kickoff, over 100,000 users have already joined, contributing to a trading volume of $100 billion.

To onboard more new users, the competition includes a reward of 200,000 USDT for card collection tasks. By completing simple tasks such as registering and depositing, users can easily redeem rewards. So far, over 50,000 rewards have been redeemed. Since the start of the trading competition, there have been over 100,000 newly registered users.

Building international approval

In the current global regulatory landscape, there are three main approaches to regulation. Some countries with a positive attitude towards crypto adoption have launched new regulatory bodies and introduced new regulatory structures. Others, like Singapore, place the responsibility on their existing financial institutions and aim to develop new regulatory frameworks. In the United States, regulations are gradually becoming clearer through practical judiciary judgments, particularly in the fields of centralized exchanges (CEXs), decentralized exchanges (DEXs) and public blockchains.

As regulations continue to mature alongside the industry, CoinW continues to make positive steps to stay ahead of its competition. In April, LCT Holding Pty Ltd (CoinW) was enrolled and registered with AUSTRAC for the provision of digital currency exchange (DCE) services. The decision to receive approval from AUSTRAC not only opened the doors for CoinW to operate in the third-largest country by crypto adoption, but also created a trusted foundation to receive further licenses.

Seven years of trusted innovation

As the crypto industry continues to emerge and evolve in an increasingly regulated landscape, it’s never been more important for exchanges to focus on regulatory compliance. To survive as an exchange and excel as an international market leader, crypto service providers need to obtain licenses to both operate in individual countries and gain trust from the global population of crypto users.

Going on seven years, CoinW has provided an innovative, trusted trading platform for users around the globe. Through its commitment to providing the best crypto experience for its users and prioritization of compliance at an international scale, CoinW maintains its position as a global leader and innovator in this space.

Related: CoinW: Pioneering Grassroots Web3 Adoption