Coinjar seeks to tap into the potential of the American crypto landscape

Coinjar, a leading cryptocurrency exchange from Australia, has set its sights on expanding its presence in the lucrative U.S. cryptocurrency market. This move marks a significant step for the company as it seeks to tap into the enormous potential of the American crypto landscape.

On May 1st, Coinjar’s CEO, Asher Tan, expressed his belief that U.S. authorities’ recent regulatory crackdown on the cryptocurrency market presents an opportunity for his company to expand its presence and offer services in the United States.

Despite the regulatory challenges, Tan sees a silver lining for Coinjar. The company considers the current environment an ideal time to grow its business and establish a foothold in the U.S. market. By embracing the changing regulatory landscape, Coinjar hopes to position itself as a trusted player in the cryptocurrency industry and attract a broader customer base.

In 2021, Coinjar obtained an operating license in the United Kingdom (U.K.). This achievement solidified Coinjar’s position as a reputable and established player in the global cryptocurrency market. Operating in Australia and the U.K. allows Coinjar to serve a broader customer base and expand its reach in the industry.

May has marked the launch of Coinjar’s bold expansion into the U.S., as the company took the first step by advertising a solitary job posting for an AML compliance officer. By doing so, Coinjar demonstrated its steadfast commitment to strict anti-money laundering regulations in pursuit of its ambitious growth plans.

Tan did not hold back in his critique of the cryptocurrency exchanges operating in the United States, accusing them of being uncooperative in meeting the licensing requirements set by regulatory bodies. In contrast, he emphasized Coinjar’s readiness to comply with the guidelines established by watchdogs in America.

CoinJar is looking for an AML Compliance Officer for its U.S. expansion. The ideal candidate will oversee AML/OFAC programs, policies, and processes to ensure compliance, reporting to the Board and Head of Legal & Compliance.

CoinJar’s announcement of expansion into the U.S. and search for an AML Compliance Officer follows closely on the heels of Coinbase’s submission of a response to the Securities and Exchange Commission’s (SEC) Wells notice. The leading US-based cryptocurrency exchange defended itself against allegations made by the regulatory body.