Twitter acquires FINCEM license
Twitter will somehow integrate cryptocurrencies
Twitter, which was acquired by Elon Musk, has applied for registration with the Financial Crimes Enforcement Network (FinCEN), an agency of the U.S. Treasury Department that handles money transfer activities.
The application was accepted on Nov. 4 C.M. and almost immediately the registration status document was made public on Nov. 9. The name of the company is listed as “Twitter Payments LLC,” and thus it seems certain that the company will conduct money transfer business in the United States through a subsidiary.
Yep, Twitter Payments LLC registered with FinCEN a few days ago as a money transmitter. You can verify its registration on FinCEN’s search page: https://t.co/cKJ9rCpd2F pic.twitter.com/7zo8tWDdmq
— John Paul Koning (@jp_koning) November 9, 2022
Although it is not yet clear what kind of payment service Twitter will perform, based on E. Musk’s past remarks, users will be able to make payments by linking their bank accounts and cards to their Twitter accounts. As noted Musk previously helped found an online bank called X.com, which later became PayPal.
Twitter will somehow integrate cryptocurrencies after acquires FINCEM license o they are only rumors?
Binance CEO Changpong Zhao (CZ) has previously expressed his belief that Twitter will somehow integrate cryptocurrencies. CZ’s remarks also increased interest in Twitter’s renewal plan among cryptocurrency market participants.
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Independent researcher and consultant, Tech Writer at Blockchain Technology. From Italy