Luxembourg has granted a license to bitcoin exchange Bitstamp making it Europe's first fully regulated payment institution for the cryptocurrency with expectations high that an extra layer of legitimacy could lead more people to trade bitcoin.
Bitstamp received the license, which goes into effect on July 1st, as part of a two-year application process that tested its security and customer protection systems.
"We have put a lot of time and resources into the regulatory process with the goal of ensuring customers feel more confident in using Bitstamp's exchange and products across the European Union," said Nejc Kodric, co-founder and CEO of Bitstamp, in a press release.
"We are proud to have taken this important step for our customers and the digital currency/blockchain industry globally."
