Liechtenstein’s first regulated exchange for cryptocurrencies and blockchain tokens is the work of two German entrepreneurs – Monty Metzger and Max Wang, writes Dorothea Alber in an article for “Wirtschaft Regional”. The exchange is supported by Liechtenstein’s Bank Frick and lawyer Matthias Niedermüller.
Aimed at professional investors, LCX has applied to the Financial Market Authority (FMA) for a licence and expects to launch operations this August.
The founders settled on Liechtenstein as the location for their exchange in large part due to the planned blockchain law. They were also impressed by the “support from the Financial Market Authority and the fact that distances in the country are short”, explained Metzger in the article. He added that being able to tap into a market with one million customers thanks to its EEA access was also important.
“There is a lack of regulation internationally,” confirmed Metzger in the article, adding that Liechtenstein was a leader in welcoming crypto companies alongside competitors like Singapore and Malta. Several such companies have even moved to Liechtenstein from neighbouring Switzerland.