Luxemburg grants Europe’s first licence for the Bitcoin exchange

Online exchange Bitstamp, announced that Luxembourg has granted it a payment institution license, making the company the first nationally licensed Bitcoin exchange in the world. Under the European Union’s ‘passport’ program, which allows financial services providers legally established in one member state to operate in others, Bitstamp, will also be licensed across all 28 EU countries. The license goes into effect from 1 July 2016. Bitstamp has simultaneously launched Bitkoin/Euro (BTC/EUR) trading to better serve European markets. Luxembourg’s Minister of Finance Pierre Gramegna said in a statement, ‘I believe this announcement marks a milestone for Bitcoin and digital finance in Europe.’