1) Given recent developments, we thought it would be good to inform you of our regulatory roadmap. ⬇️🧵
2) It has always been our goal to be a licensed and regulated entity. Consequently, we decided to apply for a DLT provider authorization in Gibraltar, which resembles the European MiFID framework but is more tailored to the crypto industry.
3) In April, we submitted our full license application and we are currently in an advanced stage of the process. Excepted authorization date is in Q1 2023.
4) What would this mean for you? We would be subject to various requirements, such as capital requirements, custody procedures (e.g. no lending of collateral) and security audits.
5) The good news is that we already comply with these requirements, as we want to aid a smooth migration to Gibraltar once we receive the authorization.
6) Feel free to contact us via Twitter, Telegram or support@thalexcom if you have any questions about our regulatory policies and procedures.This post is based on this twitter thread.