Aussie crypto exchange kicks off US expansion despite ‘regulatory risk’
Australian crypto exchange Coinjar is seeking to put its boots on the ground in the United States, with its CEO seemingly unfazed by the market's “regulatory risk."
In an interview with The Australian on May 1, Coinjar CEO and co-founder Asher Tan said he saw opportunity despite a recent wave of U.S. crypto firms sounding alarm bells over the government’s approach to regulation.
“Where other exchanges see regulatory risk, we see opportunity,” he said, adding:
Coinjar is based in Melbourne and was founded in late 2013. It was one of the earliest exchanges to hit the market in Australia and also secured a license to operate in the United Kingdom in September 2021. It is reported to have around 500,000 customers across the two countries.
Coinjar kicked off its U.S. expansion plans in May by listing a single open role for an anti-money laundering (AML) compliance officer.
“CoinJar is expanding to the US, and we are seeking an AML Compliance Officer. The successful candidate will report to the Head of Legal & Compliance and the Board, take ownership of applicable programs and policies, including the AML/OFAC Program, and implement processes to ensure adherence to them,” the job listing reads.
Tan suggested that Coinjar’s focus on regulatory compliance will be key to thriving in a difficult environment like the United States.
“Licensing is done at a state level in the US, so we will be gradually adding states until we can get close to full coverage of states,” he said, adding that “while not every company is able or willing to satisfy this criteria, CoinJar believes we’re well suited to take on this challenge.”
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