Text by Sepp Hasslberger:
According to a post in the Bitcoin Forum, titled
Bitcoin-Central, first exchange licensed to operate as a bank. This is HUGE
Bitcoin-Central (https://bitcoin-central.net/) “is getting, through a partnership with Aqoba and the Credit Mutuel, allowed to operate as a bank, (or more precisely a PSP which is basically the same as a bank, just without the debt-money issuing part).”
The feat was achieved by Paymium, a ‘Money over IP’ Bitcoin transfer agency with connections to the French banking regulators. How? Here is the forum post which gives some more detail.
At Paymium we spent lots of time and energy talking about Bitcoin to our regulating bodies, the Banque de France, the ACP (French equivalent of the American SEC), TRACFIN (AML French supervising body) etc. We engaged all these resources with one goal in mind : get these people to know Bitcoin, advocate our beloved crypto-currency and listen to them, help them think until they finally reach the same conclusion as we did : there’s nothing wrong with people being free.
There’s nothing wrong with people freely exchanging value, we don’t hurt anybody, we’re not forcing anyone to use Bitcoin, we simply want to see our dream and the future of money become a reality.
After all this patient work and lobbying we’re finally happy and proud to announce that Bitcoin-Central.net becomes today the first Bitcoin exchange operating within the framework of European regulations. Since 2010 we kept learning, when mtgox got kicked out of France for not complying with the law we learnt from it, when our banks gave us a hard time we learnt from it, when we discussed with smart people on these very forums we learnt from it.
From monitoring the regulatory field we learned that TRACFIN knew about Bitcoin, that the ECB knew about Bitcoin. And that they were both worried.
So we felt that if no one went there, and told these people about Bitcoin, they would come to us anyway.
We’re therefore extremely proud and happy to announce that Bitcoin-Central.net will be raising the bar for all the other exchanges, at least the ones operating in Europe.
We’re announcing today that Bitcoin-Central.net is getting, through a partnership with Aqoba and the Credit Mutuel, allowed to operate as a bank, (or more precisely a PSP which is basically the same as a bank, just without the debt-money issuing part).