Gate US Hits 30 Licenses, Sets Compliance Benchmark in U.S. Crypto Landscape

Gate US, a global cryptocurrency exchange platform, has secured its 30th money transmitter license by obtaining authorization to operate in the U.S. state of Maryland. The milestone underscores the company's growing regulatory footprint across the United States, where it now operates under regulatory compliance in 40 jurisdictions [1]. This expansion includes a range of U.S. states, including Illinois, Ohio, Michigan, North Carolina, Georgia, and Arizona [1].

The acquisition of the Maryland license is a strategic move by Gate US as it continues to reinforce its commitment to regulatory compliance. With 30 licenses in hand, the company is well-positioned to serve a broader audience while adhering to the diverse legal and financial requirements across U.S. states. This extensive licensing framework reflects the company’s ongoing efforts to align with evolving regulatory standards in the cryptocurrency sector [1].

The expansion comes at a time when the regulatory environment for cryptocurrency services in the U.S. continues to develop. As the industry matures, firms like Gate US face increasing demands for transparency and adherence to anti-money laundering (AML) and know-your-customer (KYC) protocols. The company's success in obtaining licenses in 40 different U.S. jurisdictions suggests a strong operational and legal infrastructure that supports its expansion goals [1].

Gate US's compliance strategy is particularly relevant in light of recent developments in the broader financial technology (fintech) space. In parallel with Gate’s regulatory progress, other firms have also faced scrutiny and legal challenges. For instance, the recent case involving Song Shijie, the leader of Beijing’s largest OTC margin trading platform, highlights the importance of stringent compliance and the consequences of non-adherence [1]. These developments underscore the necessity for global crypto operators to maintain robust compliance frameworks.

The achievement of securing 30 state licenses demonstrates Gate US’s proactive approach to regulatory engagement, which may serve as a model for other cryptocurrency platforms aiming to expand their U.S. operations. The company has not disclosed specific financial implications of the expansion, but its growing regulatory footprint is likely to enhance trust among institutional investors and retail users alike [1]. This, in turn, could support long-term growth and stability in a market that remains volatile and subject to rapid regulatory changes.

Source: [1] Gate US obtains its 30th state license, bringing its compliant operations to 40 U.S. jurisdictions (https://www.odaily.news/en/newsflash/446711)