Coinjar, an Australian-based cryptocurrency exchange, aims to increase its footprint in the highly profitable U.S. crypto market. This strategic move represents a crucial milestone for the company as it strives to leverage the vast opportunities in the American cryptocurrency arena.
Coinjar’s CEO, Asher Tan, stated on May 1st that U.S. authorities’ recent crackdown on cryptocurrency presents an opportunity for his company to expand its presence and provide services in the U.S. market.
Despite the regulatory challenges posed by the crackdown, Tan believes that Coinjar can benefit from the current environment by expanding its business and establishing a foothold in the lucrative U.S. market. Coinjar aims to become a trusted player in the cryptocurrency industry by embracing the evolving regulatory landscape and attracting a broader customer base.
Coinjar has made significant strides in the global cryptocurrency market, including obtaining an operating licence in the United Kingdom in 2021. This achievement reinforces Coinjar’s reputation as a reputable and established participant in the industry. By operating in Australia and the U.K., Coinjar can serve a more extensive customer base and extend its market reach.
Coinjar has kicked off its ambitious expansion plan in the United States with the announcement of a job posting for an AML compliance officer. By prioritizing stringent anti-money laundering regulations, Coinjar demonstrated its unwavering commitment to maintaining regulatory compliance and driving growth in the U.S. market.
Coinjar’s CEO, Asher Tan, did not shy away from criticizing the cryptocurrency exchanges operating in the United States. According to Tan, these exchanges must be more cooperative in meeting the regulatory licensing requirements. In contrast, Coinjar is determined to comply with the guidelines established by regulatory watchdogs in America.
Coinjar seeks an AML Compliance Officer to oversee its AML/OFAC programs, policies, and processes as part of its U.S. expansion plan. The ideal candidate will report to the Board and Head of Legal & Compliance, ensuring Coinjar complies with all relevant regulations.
Coinjar’s decision to expand into the U.S. comes after Coinbase’s recent response to the SEC’s Wells notice. As the leading U.S.-based cryptocurrency exchange defends itself against regulatory allegations, Coinjar is taking a proactive approach to regulatory compliance, demonstrating its commitment to ethical business practices and long-term growth in the global cryptocurrency market.