Gentarium Becomes a registered company in the European Union
There has been a running battle between cryptocurrencies and regulators. In the last 1-year regulatory bodies have stepped into an otherwise loosely regulated space with the aim of restoring sanity to a ‘wild west’ crypto market. Some exchanges and cryptos (particularly ICOs) have been hit hard and forced to shut down.
Different jurisdictions have their regulations that current and intending businesses must comply with. And it is obvious that regulation and compliance with local laws is an important aspect for blockchain-based businesses. With this in mind, masternode deployment service, Gentarium has announced that they have in incorporated and free to do business with EU regions. They stated in a tweet:
Friends, we are glad to announce that we are incorporated now. Now the activity of our company is in the jurisdiction of the European Union. Moreover, we are already on the final stage of receiving two licenses for cryptocurrency activity $GTM#Gentarium
This adds more credibility to the project and shows that they are serious about succeeding. Investors can now confirm the team behind a project, as well as their address.
The crypto marketplace has seen its fair share of high profile exit scams, where the supposed team behind a project disappears with investors’ money. Having a legit registered business is definitely a step in the right direction.