BFIC Applies For Financial License & Will Enter Legalized Operation
BFIC Blockchain is a three-tiered blockchain technology that combines the features of Bitcoin, Ethereum and Tron. It is a Third-Generation blockchain technology that aims to address basic faults such as scalability and interoperability, implying that blockchain should withstand mass adoption while avoiding issues such as sluggish transaction times and closed systems.
It is a blockchain for digital transactions as well as a platform for building and administering real-time decentralized financial services. The BFIC network’s unprecedented speed and decentralization make it a pioneer of third-generation Blockchain.
Founded by Michael Clement Lyle, BFIC was officially approved by the U.S. federal government in December 2021 and is headquartered in New York.
At the same time, BFIC has been approved by FINCEN (Financial Crimes Enforcement Bureau under the U.S. Treasury Department) to apply for MSB (Money Services Business) financial license. MSB mainly collects regulation for money service related businesses and companies, and this approval means that BFIC can start legal and compliant operations in all 50 U.S. states, including international money transfer, foreign exchange, currency trading/transfer (including digital currency/virtual currency) and other businesses.
In March 2018, the U.S. Treasury Department and the SEC had clearly emphasized that MSB financial licenses must be registered with FinCEN to engage in business related to digital assets within the United States
ABOUT BFIC Blockchain
BFIC is a next-generation network based on the 3rd Generation Blockchain technology for digital transactions and a platform for creating and managing decentralized financial services in real-time.
