TWAAO Clarification A Legally Compliant, Internationally Accredited Trading Platform
Recently, the German Federal Financial Supervisory Authority (BaFin) issued a notice stating that TWAAO was providing financial, securities, and cryptocurrency asset services in Frankfurt without the necessary local authorization. As a company committed to transparency and regulatory compliance, TWAAO takes this matter very seriously. We wish to provide our users, partners, and stakeholders with a comprehensive clarification regarding our global compliance status, regulatory credentials, and ongoing efforts to ensure adherence to legal requirements worldwide.
TWAAO’s Commitment to Regulatory Compliance
Since its establishment in 2019 in the United States, TWAAO has built its reputation as an innovative and user-centric cryptocurrency trading platform. Compliance with legal and regulatory standards has always been a cornerstone of our operations. Over the years, we have acquired multiple internationally recognized regulatory certifications, ensuring that we operate within the boundaries of legal and financial regulations in key global markets. Below, we outline our regulatory credentials that demonstrate our commitment to transparency and user security.
Global Compliance Credentials Obtained by TWAAO
TWAAO is a licensed and regulated cryptocurrency platform holding multiple authorizations across different jurisdictions. Our regulatory approvals include but are not limited to:
- U.S. Money Services Business (MSB) License
- TWAAO is registered with the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury.
- This license authorizes TWAAO to operate legally in the United States and comply with anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations.
- Our compliance with U.S. financial laws ensures that all transactions conducted on our platform are secure and meet legal requirements.
- Canadian MSB License
- TWAAO is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
- This registration affirms our compliance with Canadian financial regulations, including AML and CFT provisions.
- The Canadian MSB license further validates our commitment to maintaining international financial security standards.
- U.S. Securities and Exchange Commission (SEC) Registration
- TWAAO holds a registration with the SEC, allowing us to provide cryptocurrency trading services under U.S. securities laws.
- This registration ensures that our platform adheres to stringent investor protection regulations, offering a secure and transparent investment environment.
These regulatory credentials illustrate that TWAAO has always prioritized legal compliance, financial security, and transparency in all jurisdictions where we operate.
Understanding BaFin’s Announcement
BaFin’s recent announcement mentioned TWAAO in a list of platforms operating in Germany without local authorization. However, it is essential to clarify the context of this notice:
- Scope of BaFin’s Warning
- The warning primarily targets cryptocurrency trading platforms that have not yet completed the necessary local registration processes.
- Other well-known platforms, including Binance, Bybit, and Plus500, have also been mentioned in similar BaFin notices.
- Importantly, BaFin’s notice does not claim that these platforms are illegitimate; rather, it highlights the need for specific local licensing in Germany.
- TWAAO’s Global Compliance Standing
- TWAAO has already secured internationally recognized financial licenses in major markets, reinforcing our legitimacy and compliance with global regulatory standards.
- Our MSB licenses in the U.S. and Canada, along with our SEC registration, establish our credibility as a compliant cryptocurrency service provider.
- Engagement with German Authorities
- TWAAO is actively engaging with German Trading regulators to clarify specific licensing requirements and work toward full compliance in Germany.
- We are committed to taking all necessary steps to obtain the appropriate authorization for our operations in the German market.
TWAAO’s Next Steps Toward Compliance in Germany
In light of BaFin’s notice, TWAAO sees this as an opportunity to further strengthen our compliance framework and expand our regulatory approvals. Our next steps include:
- Enhanced Regulatory Dialogue
- We are in ongoing discussions with BaFin and other relevant authorities to ensure we fully understand their requirements.
- Our legal team is reviewing all aspects of the German financial regulatory framework to streamline the compliance process.
- Formal Registration in Germany
- TWAAO is actively pursuing registration with BaFin to legally operate within the German market.
- We are undergoing the necessary due diligence and documentation processes to meet the local licensing requirements.
- Strengthening Global Compliance Efforts
- Beyond Germany, TWAAO is continuously expanding its compliance initiatives in various jurisdictions worldwide.
- Our goal is to provide a safe, transparent, and legally compliant trading environment for our users in all operational regions.
Commitment to Users and the Crypto Community
At TWAAO, our users’ trust and security are our highest priorities. We remain dedicated to ensuring that all our operations comply with the highest regulatory standards globally. Our core commitments include:
- User-Centric Security Measures
- Implementing industry-leading security protocols to protect user assets and data.
- Ensuring compliance with global AML and KYC (Know Your Customer) requirements to prevent fraudulent activities.
- Transparent Communication
- Providing users with timely updates about our compliance status and regulatory developments.
- Offering a clear and open dialogue regarding any changes in our operational policies due to regulatory requirements.
- Continuous Platform Development
- Innovating and improving our platform to ensure compliance with evolving financial regulations.
- Expanding our legal and compliance teams to maintain a proactive approach to regulatory requirements.
TWAAO acknowledges the importance of adhering to regulatory frameworks and remains steadfast in its mission to provide a secure and legally compliant Trading cryptocurrency trading platform. The BaFin notice is a regulatory formality, and we are taking all necessary measures to obtain proper Trading licensing in Germany. With multiple international regulatory certifications already in place, TWAAO assures its users that we operate within the highest standards of financial security and compliance.
We sincerely appreciate the support and trust of our global user base. Moving forward, TWAAO will continue prioritizing regulatory compliance and transparency, ensuring a safer and more reliable trading environment for all.
For any inquiries or further clarifications, users are encouraged to contact our compliance team through our official communication channels.
