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The global cryptocurrency market has witnessed significant growth over the past decade, with its value reaching trillions of dollars (the value is $2.35 trillion as of August 2024). There has been a growing acceptance of the currency amongst government agencies, regulatory authorities, brands, sellers, and retailers. More regulatory frameworks are being designed and established to ensure that the crypto space functions securely.
With a crypto license, companies can legally engage in crypto-related activities, such as wallets, trading, exchanges, etc.
A crypto license is a legal permit that authorizes a business entity to operate its cryptocurrency business in a regulated manner, per the jurisdiction's laws. It allows entities to operate their cryptocurrency business without any legal hindrance in the jurisdiction of its obtaining.
Recently there are lots of gaps in crypto regulation. However, global movement is towards preparation of clear and fair rules, safeguarding all players of this industry. Several countries have already reached a point of establishing a kind of licensing regimes for crypto activities with so called “crypto licenses”.
From a legal perspective it is always better to be in compliance with certain regulations than operate an unregulated setup.
Thus, it is recommended to look for options with a crypto license for your business. For example, it is possible to obtain a crypto exchange license to run an exchange that deals in cryptocurrencies. Similarly, if you want to provide a crypto wallet custody service, you might find a solution to be licensed for these purposes.
Depending on the activity, the requirements might differ. Establishing such a business makes it essential to consult with a legal professional well-versed in the crypto licensing and regulation sphere. Without the license, your business might be penalized or fined.
This is a license that permits a service provider to work as a cryptocurrency exchange service provider. A cryptocurrency exchange license allows a company to offer exchange or trading services in the crypto market. The services support trading against other cryptocurrencies and fiat currencies.
Licenses give service providers the right to operate and offer virtual wallet and token services.
This license is for conduct of initial coin offering to the public.
Will allow you to perform mining of cryptocurrencies legally.
Artificially we can define this type of license as well. Сrypto casino license is “located” somewhere at the border of crypto and gambling regulation. In most cases it might be covered by gambling license if applicable law allows so. This is a regulatory document or permit that allows online casinos, to legally use cryptocurrencies. This means that cryptocurrencies like Bitcoin and Ethereum can be used to play in online casinos. Licensed casino operators have the onus of ensuring compliance related to fair gaming practices, local gambling laws, and anti-money laundering practices.
If your business is engaged into provision of services related to crypto trading or crypto-to-crypto or crypto-to-fiat exchanges it is highly recommended for you to get a crypto currency exchange license.
With the absence of a crypto license, the company could be considered as operating in a grey area. Most likely you will not be able to arrange a banking options for operational purposes. Business owners and key personal will have a high risk of fines or even criminal liabilities.
It would be complication for the business to get local sponsors, investors and reliable partners to support it and arrange its functioning properly. All expansion plans can come to a halt.
Licensing regimes and regulation differ from jurisdiction to jurisdiction. Understanding of key aspects and requirements are crucial and could save your costs, mitigate potential risks and prevent adverse legal implications.
Assessment of the project. Our specialist can assist you with analysis of your project and understanding of specific regulatory rules that might potentially apply to it globally and from the perspective of certain jurisdictions. We will help you to decide on proper licensing solution.
Structuring of the project. We can help you to arrange your project properly using the available legal instruments and options.
Selection of jurisdictions. Our experts can provide you with overview of potential countries for the setup and will assist you with choosing of a proper jurisdiction for your project. The team can help you with understanding of requirements, including regulations, paid-up capital, timeframes, local economic substance criteria, etc.
Company registration. Inteliumlaw can assist you with registering a business entity in the chosen jurisdiction using the network of our partners.
Drafting of required documents. Our company can provide you with services of preparation all necessary legal docs for proper arrangement and functioning of your business, including but not limited to drafting of Terms and Conditions, different type of agreements, AML policies, business plans, etc.
Licensing services. Where license will be required we could provide you with the full support in the process of its obtaining.
Bank account opening. We understand that dealing with banks might be difficult for crypto related businesses. We are doing our best to extend the list of our partnering institutions that would be able to meet the needs of your crypto business. Inteliumlaw can provide you with assistance in opening accounts in electronic money institutions including collection of necessary documents, passing of the compliance, correct positioning of the project.
Ongoing support. Inteliumlaw expertise falls beyond the simple licensing of the crypto businesses, our qualified specialists will be able to provide you with ongoing support serving as your dedicated team and helping you all regulatory related matters, consultancy, and risk mitigations.
Leave a message here, and one of our crypto licensing experts will get back to you quickly.
The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.
By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.
The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.
By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.
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