Stop saying that the ProEX exchange with MSB supervision double license is a fraudulent exchange

Knowing the ProEX exchange is because of some of the coins that I invested in and the CFO coins I earned from writing articles in Potato Media. Only this exchange is listed, but I often see many specious arguments on the Internet, so I decided to write today. The series of articles proves that the ProEX exchange is a normal exchange and can deposit and withdraw funds normally. But I'm not a celebrity, so it's useless to just say, to list some third-party organizations, let everyone know.

Introduction to ProEX Exchange

ProEX is the world's leading multi-contract trading platform, headquartered in Singapore, providing bitcoin and a variety of cryptocurrencies, perpetual contract trading, ETF and other digital asset trading, wealth management treasure services. ProEX provides services in Chinese, English, Vietnamese and other languages, and is committed to serving customers in Asia and even around the world.

ProEX's team comes from experts in the financial field of various countries, with Singapore's AAA-level KYC standard and AML/APG level (Asia Pacific Anti-Money Laundering Group). The management has more than 20 years of experience in the banking field, having worked for HSBC HSBC and Standard Chartered SCB.

Remarks: Asia/Pacific Group ON MONEY LAUNDERING (abbreviation: APG) is a regional international intergovernmental organization of the Anti-Money Laundering Financial Action Task Force, and its members are committed to the implementation of anti-money laundering (AML), anti-terrorist financing (CTF) and International Standards for Countering WMD Proliferation Financing.

ProEX exchange has obtained dual licenses of MSB in the United States and Canada

MSB is the abbreviation of Money Services Business. MSB in the United States is under the control of FinCEN (Financial Crimes Enforcement Bureau, an agency under the U.S. Department of the Treasury). The Canadian Fintrac MSB license is a Class I financial license supervised and issued by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). Before a money service business can start operating in Canada, it must be registered with FINTRAC as an MSB.

Money Services Businesses (MSBs) operating in Canada are subject to Canadian Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) requirements. In addition to regulating the industry, FINTRAC receives regular reports from licensed MSB agencies and issues updated industry regulations for the industry.

US MSB number: 31000167334309 ( Inquiry URL )

Canada MSB number: M20105184 ( Check website )

Why can an MSB license be used as proof of a non-fraud exchange? Because if you want to get this license, you need to go through the audit of FinCEN in the United States. These procedures are extremely strict and time-consuming. You can’t get it casually. A fake exchange fraudulently depositing funds usually does not spend so much time and money to apply for it. The application requires payment of guarantee fees, application fees, license fees, investigation fees and other fees, which are relatively expensive. In addition to obtaining the MSB of the United States, it also obtained the MSB of Canada. It is willing to spend time and cost to obtain the licenses of the two major countries. It can also be seen that the ProEX exchange is an exchange that hopes to operate sustainably.

Obtaining the Canadian MSB exchange means that it has obtained the authoritative approval of the financial regulatory agency and can carry out related business in Canada, which means that it represents the compliance supervision of the digital currency platform and avoids transaction risks. The Canadian MSB license allows to carry out ICO trading platform currency trading and contract futures, OTC fiat currency business.

For more detailed information on MSB licenses, please refer to the following two articles.

What is the US MSB regulatory license

What is a Canadian MSB license?

Other cryptocurrency exchanges with MSB licenses

The following lists some well-known cryptocurrency exchanges, so that everyone knows that the two licenses obtained by the ProEX exchange are also applied for by many well-known exchanges, which are considered to be credible licenses.

Binance (US MSB number 31000159813807)

Coinbase (Canada MSB number M20848651)

Huobi (US MSB number 31000135554654)

Remind everyone that cryptocurrency exchanges are still at risk of being stolen or closed down, so if there are a large number of cryptocurrencies that are not frequently traded, it is recommended not to put them on exchanges . Cold wallets and hot wallets ”

I am Little Frog, and I like to study all things in the blockchain. If you don’t know me, please read “Where is Little Frog Sacred (Self-Introduction) ”.

If you are new to blockchain and cryptocurrencies, you can start by reading the following articles.

Blockchain and Cryptocurrency Lazy Pack for Beginners

Advanced Lazy Pack for Blockchain and Cryptocurrencies

Thank you for your patience in reading the article. The following is a series of introduction articles I wrote for another money-making platform, Potato Media. If you agree with the concept of Gonghao and want to earn extra income, welcome to sign up for Potato Media. You can use my registration code . Let's make a fortune together! If you want to know this platform, you can refer to this official introduction .

Potato Media series of articles

1. Get to know the platform Potato Media: Introduction to Potato Media Lazy Pack
2. Potato Media's business opportunities: Looking at Potato Media's business opportunities from FB
3. Potato Media related information and Q&A summary
4. Four months of experience sharing: Potato Media is a good concept platform for me
5. Potato Media in continuous improvement: My thoughts on the official Potato Media