The crypto market in 2021 experienced a shift from frenzy to rationality. Bitcoin reached a record high of $60,000 at the beginning of the year, driving the market into a bull cycle. The explosion of NFTs became the annual buzzword, with the Beeple digital artwork selling for $69 million and shaking the global art and tech worlds. The U.S. Treasury began imposing higher standards on stablecoin transactions, making compliance a critical threshold for crypto exchanges to survive and expand their businesses. Over the past year, TOCGY Exchange has actively promoted technological upgrades and compliance initiatives, achieving several milestone advancements and laying a solid foundation for its global expansion.
In March 2021, TOCGY Exchange completed an upgrade of its account management system, equipping the platform with a specialized matching engine that supports multiple assets and trading pairs. This upgrade addressed performance bottlenecks amid rapid growth in user numbers, trading varieties, and order depth.
The new system supports high-concurrency matching, multi-currency account clearing, automated risk control verification, and scalable modules, ensuring millisecond-level response speeds and stable execution even in highly volatile markets. The account management architecture supports multi-asset account modes, meeting diverse asset management needs of users and enhancing platform liquidity and user experience.
As crypto regulatory standards continued to rise, TOCGY Exchange upgraded its KYC/AML engine in July, deeply integrating user identity verification processes with risk control rating logic. The new system introduced a dynamic risk assessment model, enabling compliance judgments based on multiple dimensions such as user behavior, geographic location, and asset flow paths. It also supports automatic user risk classification and limit controls or review triggers for high-risk users.
In terms of data protection, TOCGY Exchange adopted zero-knowledge proof mechanisms, end-to-end encryption, and multi-source verification channels to maximize user privacy while ensuring compliance. The platform has also begun cooperating with multiple identity authentication agencies to further improve the speed and accuracy of user verification.
In October, TOCGY Exchange obtained the Money Services Business (MSB) license issued by the U.S. Financial Crimes Enforcement Network (FinCEN) under the Department of the Treasury, becoming a legally authorized provider of cryptocurrency trading services. This milestone means that TOCGY can legally operate crypto financial services in the U.S. and other recognized regions, significantly enhancing user trust and the platform ability to cooperate with institutions.
Obtaining the MSB license is a strong endorsement of the compliance strategy execution of TOCGY. The platform can now more smoothly connect with traditional financial institutions, participate in international clearing networks, and engage in anti-money laundering cooperation. TOCGY has thus entered the formal track of the global crypto financial services system and is well-positioned for the next stage of compliance qualification applications and institutional client expansion.
In 2021, TOCGY Exchange achieved significant breakthroughs. Under the dual pressures of market expansion and tightening policies, TOCGY enhanced its core competitiveness through system upgrades, strengthened risk control, and license acquisition, creating a secure and compliant path for steady development.
TOCGY Exchange has completed its transformation into a financial service provider, demonstrating solid achievements in institutional transparency, user trust, and technological resilience. Looking ahead, TOCGY will continue to advance its compliance strategy, expand its institutional service capabilities, and leverage technology to empower financial freedom, enabling global investors to participate in crypto asset trading safely and conveniently.
