Cryptocurrencies has already become a full-fledged alternative to fiat money. Crypto business has appeared relatively recently.
Most countries have already introduced changes to their legislation to regulate this type of economic activity. In order to legally engage in crypto business, you must obtain an appropriate cryptocurrency broker license.
What is crypto license?
Crypto license entitles the company to carry out operations with cryptocurrencies, such as exchange and transfer of virtual assets. Not all states have yet developed an adequate licensing mechanism for activities related to crypto finance.
Therefore, it is best to obtain a license from crypto-friendly countries, for example, the UK, Estonia, or Malta cryptocurrency exchange license.
Why should you choose fintecharbor.com to receive crypto license ?
Licensed crypto exchanges can legally provide services for storing cryptocurrencies and exchanging them for conventional currencies. A regular banking license will not work for crypto exchange functions.
Fintecharbor experts know the peculiarities of receiving crypto broker licenses in various jurisdictions and will help you choose the most suitable country for registering your business.
Process to receive crypto license
To obtain crypto licenses one must first select a jurisdiction and then register a legal entity in that country. After that, you need to collect a package of documents that includes information about the non-conviction of the director and shareholders, biographies of responsible persons, a detailed description of the activities, and the company’s website.
It is also necessary to appoint a compliance officer and a responsible representative for submitting documents to government agencies. After that, you need to pay a state fee and wait for a cryptocurrency license.
I want to thank the company’s lawyers for their qualified assistance in registering cryptocurrency licenses in Estonia. The service was above our expectations, highly recommend.
We contacted Fintecharbor on obtaining a cryptocurrency license and received comprehensive information. With this assistance, we were able to prepare a package of documents in a short time.
The cost of obtaining a cryptocurrency license depends on the jurisdiction and the types of activities that the company plans to carry out; an individual offer is available upon request.
The timing of obtaining a cryptocurrency license also depends on the jurisdiction, it usually takes more time than just registering a legal entity. For example, on average, obtaining a crypto license in Estonia takes from 2 to 6 months, including the preparation and collection of the necessary documents.