Media: Bitstamp to relocate operations from the UK to Luxembourg

Europe’s oldest bitcoin exchange, Bitstamp, plans to move its headquarters from the United Kingdom to Luxembourg. According to Trustnodes, the move may have been prompted by the lack of clarity surrounding the nature of trading links between the UK and the EU.

“To comply with regulatory requirements and to enhance our own operational efficiency, we are transferring customer accounts from Bitstamp Limited to Bitstamp Europe SA, our Luxembourg-based subsidiary,” the publication quotes a company spokesperson.

Bitstamp Limited was registered on 25 July 2012, while Bitstamp Europe SA was registered in 2016.

The company assured that the move would not affect the services it provides and would not require any additional actions from customers.

The company’s official Twitter did not mention the proposed changes. There is also no information about this in the News section of the company’s site.

According to the publication, the relocation decision was made amid limited progress in negotiations between the UK and the EU on trade terms after the Brexit transition period. On 21 August, the EU’s chief negotiator Michel Barnier noted that a deal looked unlikely, as the UK government “is wasting valuable time unnecessarily.”

As reported earlier in August, the UK’s Financial Conduct Authority (FCA) registered two Gemini cryptocurrency exchange subsidiaries.

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