With the growing span and influence of the crypto industry, the regulations related to compliance and legal permits are also getting tougher. CINDX has always believed that being fluent in legal issues and having a clean, confident and clear legal status is of utmost importance. Hence, the project has always strived to be legally compliant with honesty and integrity.
At the moments, CINDX is going to distribute the CINX tokens and to successfully complete the next phase of growth by implementing Virtual Currency Wallet Services for its clients and investors.
CINDX’s Restructuring
It has been mentioned in CINDX publications that the company has been through a legal restructuring process to get the legal status of a Joint Stock Company (JSC), leaving its former designation of an LLC. This is in order to be able to offer a security token that is considered superior to utility tokens both legally and by crypto industry standards.
CINX tokens are going to be legally classified as security tokens. This makes the tokens more valuable in terms of the legal status, and is also quite rewarding in terms of financial value it contains for the investors.
The minimum requirement required to offer security tokens, according to the Estonian Financial Supervisory Authority (EFSA), is a legal status of JSC. That is why CINDX is now a JSC, after a complete legal restructuration of the build-up and legal structure of the company.
Virtual Currency Wallet Services
It is a matter of an easy guess that as CINDX achieves the growth potential and expands its services to crypto investors. Having a Virtual Currency Wallet Services in its disposal is an essential service where the company’s financial well-being is considered. This is not only a matter of utmost importance for the company’s profitability, but is also a highly preferred service by all cryptocurrency investors in the world.
In order to offer the Wallet Services, all companies under the jurisdiction of the Estonian Government need to obtain a license from the Estonian Financial Intelligence Unit (FIU). This license is a minimum requirement for any ethical company to provide non-criminal and ethical financial operations.
CINDX has already obtained the Cryptocurrency Exchange License, another important legal document that allows a crypto firm to exchange money from fiat to crypto. This allows investors to enjoy smoother and more convenient services to invest their money in crypto assets. The issuing authority for this license is the Estonian Financial Intelligence Unit (FIU), an authority governing all financial regulations in Estonia.
It is notable that in order to obtain the Crypto Exchange License as well as Virtual Currency Wallet License, a company must provide a clean criminal record as well as provide the description of its KYC (Know Your Customer) and AML (Anti Money Laundering) procedures.
CINDX fully recognizes the importance and validity of the Money Laundering and Terrorist Financing Prevention Act of Estonia and follows it wholeheartedly.
Final Note:
CINDX has always maintained a free-flowing legal status and has all other necessary documents and legal permissions in order to offer both CINX token distribution and Virtual Currency Wallet Services.
The possession of legal documents is a matter of utmost importance for CINDX. Hence, it has restructured and availed all the necessary legal documents to be able to offer the required crypto services to its valued investors and clients.
About CINDX
CINDX is an investment platform that allows individuals to combine several crypto exchange accounts into one trading terminal, and gives them the option to connect to the best managers without having to transfer their funds. Moreover, implementation of blockchain-based transactions will allow the trading history to be saved, and a rating system will be used to differentiate the successful managers from the less successful ones.
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