Leading liquidity provider B2C2 has announced its expansion into Luxembourg following the acquisition of regulatory approval from the Commission de Surveillance du Secteur Financer (CSSF). The move marks a strategic effort to broaden B2C2’s presence within the European Union six months after obtaining a license to operate in France.
Regulatory approval and expansion
B2C2, headquartered in London, has obtained regulatory approval in Luxembourg as a virtual asset service provider (VASP), enabling the firm to offer over-the-counter (OTC) spot crypto services to institutional clients. This significant milestone positions B2C2 as the twelfth VASP registered on the CSSF’s public register.
The company’s expansion into Luxembourg follows its acquisition of a license from France’s Autorité des Marchés Financiers (AMF) in August of the preceding year. B2C2’s acquisition of Woorton, a Paris-based firm, secured this license.
Denzel Walters, a former Bank of England supervisor, has been appointed to lead the Luxembourg team, emphasizing B2C2’s commitment to fostering a strong regional presence.
Preparation for regulatory frameworks
Expanding into Luxembourg is pivotal as the European Union gears up to implement its Markets in Crypto Assets (MiCA) regulation. Once enforced, the MiCA regulation will establish comprehensive and tailored rules governing the crypto sector within the 27-nation trading bloc.
By securing regulatory approval in Luxembourg, B2C2 demonstrates proactive preparation for impending regulatory frameworks, positioning itself as a compliant and reputable player in the evolving crypto landscape.
Thomas Restout, recently appointed as CEO of B2C2, underscored the significance of obtaining VASP registration in Luxembourg, particularly in light of the burgeoning virtual asset community within the region.
Restout highlighted the importance of this milestone as B2C2 aligns itself with regulatory developments and anticipates the forthcoming implementation of MiCA regulations.
Future outlook and leadership
As B2C2 solidifies its foothold in Luxembourg and prepares for regulatory changes, it remains focused on delivering innovative and reliable liquidity solutions to its institutional clients.
With Denzel Walters at the helm of the Luxembourg team and Thomas Restout leading as CEO, B2C2 is poised to navigate the evolving regulatory landscape and capitalize on opportunities within the dynamic crypto market.
In conclusion, B2C2’s expansion into Luxembourg underscores its commitment to strategic growth and regulatory compliance within the European Union. By obtaining VASP registration and positioning itself as a key player in Luxembourg’s virtual asset community, B2C2 reinforces its leadership position in the global crypto ecosystem, setting the stage for continued success in the years to come.
Source: https://www.cryptopolitan.com/b2c2-expands-eu-presence-with-luxembourg/