COVESTING’s Statement Regarding Servicing U.S. Clients and COV Token Ownership

Dear community,

As we have repeatedly demonstrated, Covesting is committed to developing the most trusted and secure trading and intelligence platform available to all investors, without compromise. However, due to the continued lack of clarity around regulations governing the cryptocurrency industry in the United States, we unfortunately cannot service U.S. residents at this time.

The United States of America is an important market for Covesting, and our teams are hard at work to ensure we can service as many clients as possible. As part of our efforts to resume service in the U.S., our compliance department is closely collaborating with lawyers from the U.S. and abroad to develop legally compliant methods to accept customers based in the U.S. Because no federal licenses exist in the United States, we are exploring the option of obtaining state-specific licenses — such as New York state’s Bitlicense — to ensure all customers across the United States are able to access our cutting edge platform.

Covesting remains undeterred in following our philosophy of compliance and transparency. Therefore, we will not begin serving clients from the United States until the proper licensing and approvals from U.S. regulators have been received. We firmly believe that once we obtain our DLT license from the Gibraltar Financial Services Commission, it will play an important role in receiving approvals from U.S.-based regulators by proving Covesting operates a secure and compliant platform.

U.S. residents are still invited to join us on our journey by owning COV tokens. We strongly advise all U.S.-based investors to review local state laws, or to consult a lawyer or certified public accountant to understand if owning COV tokens is legal in their state. The COV token will continue to be available at a number of external exchanges.

Covesting is determined to become the leading cryptocurrency trading and intelligence platform, built on trust, transparency, and legal compliance.

Please stay tuned for additional updates in the future as we take additional steps toward realizing our ultimate vision. As always, if you ever have any questions or concerns, please feel free to contact our 24/7 support team.

Yours,
Covesting team