Stop calling the ProEX exchange, which has dual MSB regulatory licenses, a fraudulent exchange.

I know about ProEX exchange because some of the coins I invested and the CFO coins I earned from writing articles in Potato Media are only listed on this exchange. However, I often see a lot of specious arguments on the Internet, so I decided to write one today. A series of articles prove that ProEX exchange is a normal exchange and deposits and withdrawals can be made normally. But I'm not a celebrity, so it's useless to just talk about it. Let me list some third-party organizations to let everyone know.

Introduction to ProEX Exchange

ProEX is the world's leading multi-contract trading platform, headquartered in Singapore, providing Bitcoin and multiple cryptocurrencies, perpetual contract trading, ETF and other digital asset trading, and wealth management 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 from various countries and has Singapore's AAA KYC standards and AML/APG levels (Asia Pacific Anti-Money Laundering Group). The management has more than 20 years of experience in the banking field and has worked at HSBC and Standard Chartered SCB.

Note: Asia/Pacific Group ON MONEY LAUNDERING (Abbreviation: APG) is a regional international intergovernmental organization of the Financial Action Task Force on Anti-Money Laundering. Its members are committed to implementing anti-money laundering (AML) and counter-financing of terrorism. (CTF) and international standards for countering the financing of weapons of mass destruction proliferation.

ProEX exchange obtained MSB dual licenses from the United States and Canada

MSB is the abbreviation of Money Services Business. MSB in the United States is governed by FinCEN (Financial Crimes Enforcement Bureau, an agency under the U.S. Department of the Treasury) and is a registration license. All businesses engaged in money services must apply for this license. The Canadian Fintrac MSB license is a first-class financial license supervised and issued by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). Before a money service business starts operating in Canada, the MSB must be registered on FINTRAC.

Money services businesses (MSBs) operating in Canada are subject to Canada’s anti-money laundering (AML) and counter-terrorism financing (CTF) requirements. In addition to regulating the industry, FINTRAC obtains regular reports from licensed MSB bodies and issues updated industry regulations for the industry.

To re-apply when the MSB expires, please search for ProChain in LEGAL NAME.

US MSB ( query website )

Canadian MSB number ( query website )

Why can obtaining an MSB license be used as proof of a non-fraudulent exchange? Because if you want to obtain this license, you need to go through the US FinCEN review. These procedures are extremely strict and time-consuming. You can’t get it casually. If you just want to set up a Fake exchanges usually do not spend so much time and money to apply for fraudulent deposits. Applications require guarantee fees, application fees, license fees, investigation fees and other fees, which are relatively expensive. Furthermore, in addition to obtaining an MSB in the United States, it also obtained an MSB in Canada. It is willing to spend time and cost to obtain licenses from two major countries. It can also be seen that ProEX Exchange is an exchange that hopes to operate sustainably.

Obtaining a Canadian MSB exchange means obtaining authoritative approval from the financial regulatory agency to carry out relevant business in Canada, which means compliance supervision of digital currency platforms and avoiding transaction risks. The Canadian MSB license allows the development of ICO trading platform currency transactions and contract futures, and over-the-counter OTC legal currency business.

If you want to know more about the MSB license, you can refer to the following two articles.

What is a US MSB regulatory license?

What is a Canadian MSB license?

Other cryptocurrency exchanges that have obtained MSB licenses

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

Binance (US MSB number 31000159813807)

Coinbase (Canadian MSB number M20848651)

Huobi (US MSB number 31000135554654)

I would like to remind everyone that cryptocurrency exchanges are still at risk of being stolen or shut down. Therefore, if you have a large number of cryptocurrencies that are not frequently traded, it is recommended not to store them on the exchange. As for where to store them, you can refer to this article " How to choose the right one" Cold wallet and hot wallet "

I am Xiao Frog and I like to study all things about blockchain. If you don’t know me yet, please read “ Who is Xiao Frog (self-introduction text) ”.

If you are new to blockchain and cryptocurrency, you can read the following articles first.

Blockchain and Cryptocurrency Beginner’s Guide

Advanced Lazy Pack for Blockchain and Cryptocurrency

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

Potato Media series of articles

1. Get to know Potato Media as a platform: Introduction to Potato Media
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. Sharing my experience after using it for four months: Potato Media is a good concept platform for me.
5. Potato Media continues to improve: My thoughts on the official Potato Media