NEW YORK, Feb. 09, 2025 (GLOBE NEWSWIRE) -- Recently, the German Federal Financial Supervisory Authority (BaFin) issued a notice claiming that TWAAO was providing financial, securities, and cryptocurrency asset services in Frankfurt without the necessary authorization. TWAAO takes this matter seriously and wishes to provide its users with a detailed clarification regarding its qualifications and compliance.
Global Compliance Credentials Obtained by TWAAO
Founded in 2019 in the United States, TWAAO is an innovative cryptocurrency trading platform. The company has always adhered to the principles of legal and compliant operations, upholding the user-first value at the core. TWAAO has obtained multiple internationally recognized regulatory certifications, including but not limited to:
- U.S. MSB License
TWAAO holds a FinCEN-issued MSB license, authorizing legal cryptocurrency operations under U.S. regulatory standards.
- Canadian MSB License
Registered with FINTRAC, TWAAO's Canadian MSB license confirms international regulatory compliance.
- License Issued by U.S. Securities and Exchange Commission (SEC)
As an SEC-registered crypto platform, TWAAO adheres to securities laws, ensuring a secure, transparent investment environment.
Background Explanation of the BaFin Announcement
The warning issued by BaFin primarily targets trading platforms that have not met its local registration requirements, such as Binance, Bybit, and Plus500, which have also been publicly listed. It does not dispute the legitimacy of these platforms. TWAAO has already obtained multiple authoritative licenses internationally, leaving no doubt about its compliance. TWAAO is actively communicating with the relevant authorities to understand the specific local regulations and is working on the registration process to ensure compliance with local market requirements.
Commitment to Legal Compliance and User-Centric Principles
TWAAO will take the BaFin compliance requirements as an opportunity to further enhance its legal compliance framework, ensuring the stability of platform operations and the safety of user rights. TWAAO will actively communicate and operate in compliance with the laws and regulations of different countries and regions, providing a safer, more transparent, and compliant trading environment for users worldwide.
Holding sincere gratitude to its global users for their trust and support, TWAAO will continue to adhere to the core philosophy of putting users first and remain committed to building a trustworthy cryptocurrency trading platform that meets international standards.
