Maksym Stepanenko
Managing Partner, Crystal Tax
International client projects since 2012: company structures, tax, immigration, DUNS and NCAGE. 50+ jurisdictions.
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Companies that deal in virtual currencies, cryptocurrencies or digital assets need a cryptocurrency licence in many jurisdictions around the world.
Do you need a license for a crypto business? Crystal Tax law firm provides professional level services. We offer a range of services for blockchain and cryptocurrency-focused firms.
In order to obtain a licence as quickly as possible and to know all the benefits of a cryptocurrency business, we recommend that you seek help from our lawyers.
We know and understand all the intricacies of the licensing procedure. We will be able to determine what type of licensing document is needed and what requirements are imposed on the licensee in a particular jurisdiction.
When is a license required for a crypto business?
It is necessary to obtain a cryptocurrency license in the following cases:
- Offer or sale of digital assets as part of initial coin offerings or token sale.
- Sale of digital assets that are securities.
- Manage virtual currency kiosks or ATMs.
- Managing the cryptocurrency exchange platform.
- Cryptocurrency vaults.
- Payment processing.
How to get a license for crypto business?
Crypto business license — it is an authorization document, the procedure for issuing which depends on the laws and policies of a particular jurisdiction. If you need a crypto business license, seek qualified legal advice and practical assistance from Crystal Tax law firm.
In general, a license can be obtained by meeting the following requirements:
- prepare a package of documents submitted by the licensing authority;
- provide information on the crypto wallet;
- disclose information on operating expenses and capital resources within 6-12 months of operation;
- create a business plan.
Crypto license: what do we offer?
By contacting Crystal Tax, all clients are guaranteed to receive a range of legal and consulting services related to business licensing, in particular:
- Legal advice.
- Preparation of necessary documents.
- Preparation of financial statements.
- Contact the competent licensing authorities.
- Supporting the activities of a legal entity, etc.
It is worth noting that most of the leading states of the world at the legislative level have regulated the field of activity related to cryptocurrency. Most jurisdictions apply a risk-based approach to the supervision of crypto assets. This means that businesses that pose the greatest risk of money laundering and terrorist financing will be subject to a more detailed registration assessment and ongoing supervision.
Crypto license: where is the best place to get it?
The most attractive jurisdictions for doing crypto business and obtaining a license for this type of activity are:
- Malta;
- Estonia;
- Great Britain;
- USA;
- Japan;
- New Zealand;
- United Arab Emirates
Each state has its own advantages and pitfalls. To choose the best option, trust the specialists of our company. For projects in the European Union, the requirements of a MiCA CASP licence in the EU are explained step by step by the blockchain consultancy Blocons.
Why order services from Crystal Tax?
In addition to the fact that we provide a license for the crypto business on a turnkey basis, we guarantee our clients a personalized, professional approach, expertise in resolving any issues and absolute confidentiality.
Only our experts will help:
- to draw up a competent and promising business plan;
- arrange structure;
- analyze systems and controls;
- organize the anti-money laundering/terrorist financing structure and assess all possible risks;
- arrange outsourcing;
- develop license agreements for services;
- prepare reports and more. others
Key milestones
If you decide to go into crypto business, you need to go through a certain procedure:
- Select the jurisdiction that is optimal for this type of activity and register a company.
- Open a corporate bank account.
- Prepare documents and submit to the competent licensing authority.
- Pass a regulatory review to ensure that the licensee complies with legal requirements.
- Get a license.
It is the receipt of a license for crypto business that is the basis for the legal implementation of such activities and the provision of various services.
With the help of Crystal Tax specialists, you will quickly complete the necessary documents, save yourself from unnecessary trouble and be able to focus on doing business abroad. Get in touch!
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Our advantages
Corporate structuring, company registration in Ukraine and abroad, tax and reporting, migration, bank accounts, DUNS and NCAGE codes. We run the whole project, from choosing the solution to the finished documents.
Confidentiality terms are set out in our contract. We do not pass information about a client or their project to third parties, except where the law expressly requires it.
We compare jurisdictions against your business task: tax regime, reporting, substance requirements and access to banking. On the call we go through the upsides and the limits of each option.
We name the timeline for every step before the work starts — it depends on the jurisdiction, the registrar and the bank. Personal data is used only to deliver the service.
We handle the correspondence with registrars, government bodies and banks and answer their requests ourselves. From you we need documents and signatures.
We take each case to the finish: if an authority or registrar comes back with remarks, we revise the documents at no extra charge. The fee is calculated for your task before work starts.