Cryptocurrencies

Bitstamp to Move Clients’ Accounts From London to Luxembourg

The departures board at London's Waterloo Station (Wikimedia Commons).

Cryptocurrency exchange Bitstamp told CoinDesk it will migrate its customer accounts from its London-based Bitstamp Limited to its entity in Luxembourg. But operations at Bitstamp Limited will not be affected by this decision, according to the company.

“[This is] a move that has been planned for months,” Vasja Zupan, chief operating officer of Bitstamp, confirmed with CoinDesk in an email response. “This does not involve any relocation or change in operations, staff or offices.”

The exchange currently has three physical locations around the globe, according to its website. The exchange, Bitstamp Ltd., is in London, while its payment institution, Bitstamp Europe S.A., where the accounts will be moving, is based in Luxembourg. Bitstamp also has its offices in New York. 

Related: India May Be Starting Its Biggest Bitcoin Bull Run Yet

The exchange was granted a license to operate as a fully regulated payment institution in Luxembourg in 2016, in an attempt to expand its crypto trading service throughout the European Union.

At press time, Bitstamp had not responded to CoinDesk’s follow-up questions regarding the reason it moved accounts from London to Luxembourg, but TrustNodes reported on Aug. 21 it was likely because of an increased chance of a “no deal” Brexit between the European Union and the U.K.

Related Stories

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Cryptocurrencies Videos

CoinDesk

CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Its mandate is to inform, educate and connect the global community as the authoritative daily news provider dedicated to chronicling the space. Founded in May 2013, CoinDesk reaches millions interested in blockchain technology thru its website, social media, newsletters, podcasts and video. CoinDesk created the original reference rate known as the Bitcoin Price Index which is widely sourced in the media including The Wall Street Journal, Financial Times, CNBC and many others on a daily basis.

Learn More