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<p class="is-style-lead">In a Nov. 8 post released on X, Open Exchange (OPNX) shares the announcement of their latest regulatory milestone in Europe.</p> 
<p>The exchange is said to now have the Virtual Asset Service Provider (VASP) license in Lithuania, a country in the Baltics.</p> 
<h2 class="wp-block-heading" id="adhering-to-high-standards">Adhering to high standards</h2> 
<p>The announcement stated that the license would require OPNX to adhere to the highest standards of security and compliance, alongside claims the team is already using robust KYC and anti-money laundering systems.</p> 
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   <p lang="en" dir="ltr">We're excited to announce our latest regulatory milestone in Europe!<br><br>OPNX has obtained the Virtual Asset Service Provider (VASP) license in Lithuania! 🎉<br><br>Learn more:<a href="https://t.co/ayScB7ykDX" target="_blank">https://t.co/ayScB7ykDX</a> <a href="https://t.co/vdTkRwrRnw" target="_blank">pic.twitter.com/vdTkRwrRnw</a></p>— 🐂 OPNX (Open Exchange) (@OPNX_Official) <a href="https://twitter.com/OPNX_Official/status/1722257399564931481?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 8, 2023</a>
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<p> You might also like: <a href="https://crypto.news/bitpanda-secures-vasp-license-for-digital-asset-trading-in-norway/"> Bitpanda secures VASP License for digital asset trading in Norway </a> </p> 
<p>With the VASP license, OPNX has the ability to service the European region, although there may be jurisdictions within the EU that require additional licenses to operate certain services.</p> 
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<h2 class="wp-block-heading" id="previous-exchange-conduct">Previous exchange conduct</h2> 
<p>Perhaps more well-known than OPNX the exchange are its founders, Kyle Davies and Su Zhu, who also founded the now-bankrupt crypto hedge fund Three Arrows Capital (3AC), and Mark Lamb and Sudhu Arumugam, who founded CoinFLEX which&nbsp;<a href="https://twitter.com/CoinFLEXdotcom/status/1706838617241555311" target="_blank" rel="noreferrer noopener">ceased operations</a>&nbsp;at the end of October. Unfortunately, due to previous bankruptcies, the reputation of OPNX has been considered&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-09-19/opnx-s-30-million-crypto-bid-for-hodlnaut-rebuffed-due-to-illiquid-flex-token" target="_blank" rel="noreferrer noopener">questionable by most</a>.</p> 
<p> Read more: <a href="https://crypto.news/kraken-expands-to-ireland-secures-vasp-license/"> Kraken expands to Ireland, secures VASP license </a> </p>

OPNX receives VASP license in Lithuania

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