As running our business with Crystal Technology efficiently, we have a tendency to apply for a license in order to issue electronic money in the near future
The primary motivation for issuing electronic money is to increase the efficiency and stability of crypto storing systems and improve and fulfil our services all over the globe as well.
The major benefits for obtaining the license:
- Money remittance
- Flexible monetary policy
- Payment backstop
- Financial inclusion
We make sure that we will follow all required compliance with anti-money laundering/combating financing of terrorism (AML/CFT) regulations. The elimination of physical cash could assist in these efforts, although the likely shifting of illicit fund transfers to decentralised payment systems and intermediated through anonymous, decentralised cryptocurrencies could vitiate this progress. This is one of the reasons why electronic money institutions might seriously consider issuing electronic money.
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