BFIC requires financial license and will enter legalized
New York, NY, December 27, 2021 (GLOBE NEWSWIRE) – Founded by Michael Clement Lyle, BFIC was officially approved by the US federal government in December 2021 and is headquartered in New York.
The BFIC community will help manage the issues and privileged issues of the BFIC open source community project by developing a good governance structure. The design objectives of the BFIC governance structure primarily consider the sustainability, management efficiency and security of the BFIC open source community project. The BFIC consists of an ecology center, a technological development center, a marketing center and a daily management center.
BFIC is a decentralized financial coin built on third-generation blockchain technology and supported by a large utility-based ecosystem, BficCoin is poised to become a new competitor in the market.
BFIC’s goal is to create a secure and stable trading system with DeFi Yield Farming, keeping the decentralized cryptocurrency, BficSwap for BficCoin holders and services.
At the same time, BFIC has been approved by the FINCEN (Financial Crimes Enforcement Bureau of the US Treasury Department) to apply for an MSB (Money Services Business) financial license. MSB primarily collects regulation for businesses and companies related to money services, and this approval means that BFIC can start legal and compliant operations in all 50 US states, including international money transfer, foreign exchange, trade / currency transfer (including digital currency / virtual currency) and other businesses.
In March 2018, the US Treasury Department and the SEC made it clear that MSB financial licenses must be registered with FinCEN in order to operate digital asset-related activities in the United States.
Michael Clement Lyle
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