New Bitcoin exchange Coinfloor aims to stamp out money laundering

Coinfloor is new Bitcoin exchange that is being backed by VC and is building its reputation based on the promise that they offer ‘know your customers’ procedures and comply with all anti-money laundering regulations. The pledge is made against the fact that Bitcoin itself has not yet been officially classified according to the Financial Conduct Authority in the UK.

As of the 29th October users are able to register and create Coinfloor accounts although the actual Bitcoin trading will not be open to users until November 5th. The company was founded by Amadeo pellicle and Mark Lamb and is emphasising the fact that their platform is not only the first that allows Bitcoins to be traded, but also that it is the most secure in existence.

In order to back up this promise the company is utilizing full know your customer procedures and all electronic anti-money laundering procedures. Additionally they also have made a point of following all of the Payment Services Regulations in Europe and met with the UK Financial Conduct Authority.

Mark Lamb, the CEO and co-founder of Coinfloor, stated that they believe that all traders and users need a Bitcoin exchange that is trustworthy and reliable when it comes time for them to conduct business. The staff has been very committed to meet this goal by operating and building Coinfloor to be complaint with all financial regulations and to operate fully as a professional finance company.

He added that they are very happy to be working with Bitcoin. According to Lamb at the moment they are not regulated by the FCA but they have been told formally that at the moment they do not have to be regulated because the FCA has not yet classified Bitcoin as money. Despite this fact, they plan to act in full compliance with any financial or money regulations.