Road to the Commission De Surveillance Du Secteur Financier (CSSF) Cryptocurrency License

LUXEMBOURG CITY, June 22, 2016 (Newswire.com) - In May 2016, Ritzcoin Technologies Inc received the approval from CSSF for a national license as a fully regulated Cryptocurrency Institution. The approval was granted following a one-year process, during which Ritzcoin leaders, including CEO Dr. Brett Sperry, met with Luxembourg regulators to learn how to become fully compliant with the country’s financial laws.

A large part of this process involved security reviews with the Commission de Surveillance du Secteur Financier (CSSF), as well as an independent audit led by PriceWaterhouseCoopers. While there, the Ritzcoin team noted the regulators’ high level of understanding regarding Bitcoin and blockchain technology.

The Luxembourg regulatory body first announced its interest in setting up a global regulatory framework for the Cryptocurrency industry in February 2014.  And has since been taking progressive and constructive steps towards the consensus with the digital currency environment and its key players.

Ritzcoin’s license is passportable into the 28 EU member states allowing it to legally operate Cryptocurrency-related operations like the provision of payment services using its digital currency across Europe. This stamp of approval ensures Ritzcoin’s users are protected by the highest degree of regulatory oversight and security previously only recognized in traditional financial institutions.

About Ritzcoin Technologies Inc

Ritzcoin Technologies Inc. was established in Nevada, USA in 2007 by Dr. Brett Sperry. Currently one of the top business analytics software vendors in the world.

In June 2015, Dr. Brett Sperry successfully created Ritzcoin, a new form of cryptocurrency which was decentralized, more secured and more energy efficient than Bitcoin.

Source: Ritzcoin Technologies Inc.