Life Clips Inc. (OTCMKTS:LCLP) made an announcement on April 22, 2022, about its Belfrics Group subsidiary receiving its exchange operational license in Poland. This license granted to Belfrics Poland is Belfrics first license in the European Union (EU) and marks Belfrics’ foray into Europe.
Trading Data
On Friday, LCLP stock fell 15.32% to $0.0094 with 72.73 million shares, compared to its average volume of 27.49 million shares. The stock moved within a range of $0.0089 – 0.0114 after opening trade at $0.0113.
Life Clips Subsidiary Belfrics Group Enters EU; Receives Exchange Operational License in Poland
Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial ServTices Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients.
The Poland license will include the following services – exchange between currencies, virtual and media payment, and virtual brokerage in exchange. Back in November 2021, Poland enacted legislation clarifying the status of cryptocurrencies and cryptocurrency trading. Mining, purchase of crypto instruments, and sales, is now a regulated field of business in Poland. They need mandatory registration of cryptocurrency companies with the Polish Cryptocurrency business Register (Rejestr walut wirtualnych).
As of now, Belfrics is in the process of preparing its website for Belfrics Poland in Polish. It is also in the licensing process for other countries.
Technical Data
LCLP stock is trading above the 20-Day and 50-Day Moving averages of $0.0078 and $0.0092 respectively. However, the stock is trading below the 200-Day moving average of $0.0204.
