- Coinjar, an exchange for digital currencies based in Australia, has expressed its intention to broaden its reach in the United States.
- The CEO, Asher Tan, says Coinjar is ready to overcome any regulatory challenges that may arise in the cryptocurrency industry.
- The company listed an open role of an Anti-Money Laundering (AML) AML Compliance Officer, for the United States.
On May 1, Coinjar CEO Asher Tan revealed in an interview with The Australian that it was expanding to the United States. The Australian crypto exchange is determined to go on with its plans despite the worsening regulatory situation in the country.
Coinjar commented on Twitter saying:
“Our CEO, Asher Tan, sees opportunity in regulatory challenges and remains dedicated to making crypto accessible and useful for all since 2013.”
During an interview with the Australian, Tan stated:
“Where other exchanges see regulatory risk, we see opportunity. We’ve always understood that regulation has a key role in crypto’s future, and we believe the American market will reward an exchange with our unparalleled compliance bona fides.”
According to Tan, adhering to legal regulations will be crucial for CoinJar’s success in the challenging U.S. market. He plans to gradually expand the platform’s coverage of states since licensing is granted at the state level. Tan is confident that CoinJar can tackle this challenge, as only some companies are capable or willing to meet the necessary criteria.
CoinJar Seeks AML Compliance Officer as Part of U.S. Expansion Efforts
In its endeavor to overcome any roadblocks in penetrating the U.S. Crypto industry, Coinjar has listed an open role of an Anti-Money Laundering (AML) AML Compliance Officer. The listing read:
“CoinJar is expanding to the U.S., and we are seeking an AML Compliance Officer. The successful candidate will report to the Head of Legal & Compliance and the Board, take ownership of applicable programs and policies, including the AML/OFAC Program, and implement processes to ensure adherence to them.”
According to the job description, the AML Compliance Officer will be expected to use their specialist knowledge to uplift CoinJar’s compliance with regulations and legislation.
CoinJar Celebrates 10 Years of Revolutionizing Cryptocurrency Finance
On May 1, the Australian cryptocurrency platform announced on its blog that it was celebrating its 10th anniversary. It revealed that the venue was founded in 2013 when Bitcoin was still a relatively unknown concept, and there were very few platforms globally available for buying and selling cryptocurrencies. However, from the beginning, the team had global ambitions of cryptocurrency-enabled finance.
Coinjar added that it had worked tirelessly to build a platform that provides a safe and secure way to trade cryptocurrencies and captures the imagination of what can be possible when one has access to decentralized money.
The company’s CEO, Asher Tan, said:
“Over the years, CoinJar has weathered the ups and downs of the cryptocurrency market, from the highs of bull runs to the lows of multiple crypto winters. Through it all, CoinJar has remained committed to its mission of democratizing access to the world of cryptocurrency with easy-to-use products.”
Tan added that CoinJar has successfully served thousands of people in Australia and the United Kingdom. This experience could be what it’s giving the crypto exchange courage that if it ‘killed the bears and the lions’ in the Australian and United Kingdom markets, then it is confident that it can soar above the “Goliath” in the following need, purportedly the U.S. strict regulatory system.
Coinjar, headquartered in Melbourne, was among the early exchanges to enter the Australian market, having been established towards the end of 2013. In September 2021, it secured regulatory clearance to operate in the U.K. and currently boasts approximately 500,000 customers in both countries combined.
The company will be the first Australian crypto exchange to enter the U.S. market. It is taking bold steps even as the industry witnesses various firms such as FTX, Bittrex, and Coinbase downsizing or contemplating leaving the U.S. CoinJar’s expansion indicates a persistent faith in the future of cryptocurrency, as purported by Tan.
