RIOT Files to the US SEC to Introduce a Fully Regulated Exchange

By Jamie Green– Crypto Expert

The Riot Blockchain has expressed plans to introduce a fully regulated digital currency exchange in the US for services to buy and sell cryptocurrency. The company Riot Blockchain was formally known as BiOptix, a US publicly traded company, but changed its name with a shift in focus to the blockchain industry along with its ticker on Nasdaq’s stocks to RIOT.

The cryptocurrency exchange is to be called ‘RiotX’ currently in development and to be operated through its subsidiary RiotX Holdings, Inc. The platform has been said to function much like how a fiat currency exchange does, utilising APIs integrated with three core services. The exchange will act as a banking service, trading engine and a digital wallet service providing a one-stop-shop experience for buying and selling Bitcoin.

Riot hopes to launch the exchange in any jurisdiction it obtains regulatory approval for in the US with plans to launch in all but Hawaii and Wyoming by the end on 2019. The firm is working to obtain the New York State Bitlicense for selling crypto through its exchange, a highly sought-after licence and location.

Riot has a primary focus with its digital currency mining plans which reportedly operates at a maximum hash rate of 95 petahash per second. Their choice to introduce an exchange alongside this operation that will allow users to sell crypto generated via mining through the new exchange platform.

We see new exchanges entering the markets all the time with a keen interest to support the budding industry. Many traders and users need an exchange platform to both buy and sell Bitcoin as a gateway to the markets.

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