After an exhaustive dialogue with Gibraltar’s regulatory authorities, who formulated a system of 9 principles that regulate businesses based on rapidly-evolving technology, we figured out that the Gibraltar regulation was appropriate for us, since these are principles that prioritize customer care and fund security, through the application of principles rather than rigid rules. This will provide you with greater security, transparency and trust.
What actions must I take to continue using Bitso’s services?
To continue using our services, you need to complete the migration process which includes new terms and conditions. You can do it from the following page https://bitso.com/upgrade. Additionally, we recommend checking the status of your account.
¿Dónde puedo revisar el estatus de mi cuenta?
You must enter the following link and check the status of your account: https://bitso.com/upgrade. You will be asked to sign the new terms and conditions, and if applicable provide us with data to complete your profile and you will be ready to continue trading. You can check you level here: https://bitso.com/user/level.
Will I have to repeat my account verification process?
For some of our users there is additional information that we need to request. Please enter https://bitso.com/upgrade check if we have all your information and you will be ready to continue trading.
With the new terms and conditions does the security of my funds change?
Your funds are safe, the regulatory team of Gibraltar formulated a system of 9 principles that regulates businesses based on rapidly-evolving technology, such as Bitso. These principles were built from the ground up specifically to regulate businesses such as ours, with consumer protection and safety being one of the driving initiatives.
How am I going to use Bitso now?
The interfaces with which you interact, such as website, the app and/or the APIs, will remain the same. There will be other small changes that will improve your experience, but in general terms, Bitso will be even more reliable and safe.
Will I be able to continue requesting invoices for trading services?
By interacting with a regulated company in Europe, you will have greater security, transparency and confidence, since the cryptocurrency services with which you interact daily will be regulated by robust European standards applicable for the industry. However, after starting operations under the Gibraltar standards, we will no longer be able to issue your invoices for trading services. We apologize for the inconvenience this may cause. We are convinced that there are more benefits to be gained from your security and experience within our platform and the application when interacting with your cryptocurrencies.
Will I have to pay taxes?Correct accounting treatment of your Bitso operations depends on your personal situation. We recommend our users to seek advice from a professional, this way you can make better personal decisions.
Will the funding and withdrawal limits increase in MXN pesos?
When interacting with Mexican pesos, whether through SPEI, cash funding or Bitso Transfer ®, you will be and will continue to use the services of Bitso S.A.P.I de C.V., in Mexico. The limits of funding and withdrawals for Mexican pesos will remain the same.
What schedule will I see in my history regarding Crypto trading?
Your trade history is displayed in central time standard, this is Mexico City’s time zone.
How does Bitso protect my account information?
As a regulated entity we will comply with the General Data Protection Regulation of the European Union (GDPR). This is an innovative regulatory framework, drafted and published by the European Parliament and is one of the most robust standards at the global level in terms of data security and user privacy. The rules were introduced in 2018 to standardize the data protection laws in the European Union and give citizens in a growing digital economy greater control over the use of their personal information. Here is the link to the GDPR page if you want more information https://eugdpr.org/.
If you should have any questions or comments do not hesitate in reaching us through our live chat, support tickets, social networks or Telegram.
If you want additional information you can always check our blog: https://landing.bitso.com/gib-es/