Call us Contact us now
+44 (2038) 07 15 07

Search


UK crypto exchange Company Formation

Starting your crypto exchange company in the UK is a great choice due to the absence of any specific regulation of the industry by the Financial Conduct Authority. However, it is highly recommended that crypto exchange Companies completed an analysis of their planned activity in order to clarify whether the particular crypto exchange project complies with the legislation of the United Kingdom.Tim...

Path: Licensing
crypto exchange and Wallet License in Lithuania

Lithuania offers a friendly and regulated legal environment for crypto exchange and crypto wallet services provider companies, with clear regulations in place since 2020. The company formation and obtaining a license in completely remotely, without need to travel to Lithuania.Timeframe: around 3 months Minimum paid up capital: EUR 2,500.00 Overview To apply for the authorization, yo...

Path: Licensing
crypto exchange industry is not as compliant as it appears to us

According to the recent studies, numerous crypto exchange companies still do not have sufficient KYC policies. 69 percent of crypto companies does not have proper know-your-customer (KYC) procedures, and only 26 percent of exchanges had appropriate anti-money laundering (AML) procedures in place. In particular, experienced in AML staff members responsible for transaction monitoring and internal...

Path: Blog
Compliance deadline of January 2020: crypto exchanges implement FATF anti-money laundering standards

It is September of 2019 but crypto exchanges are still looking for a solution as they need to implement a new set of compliance guidelines issued by the Financial Action Task Force (FATF). Digital asset service providers are required to come up with the solution before January 2020. Earlier this year, the FATF announced a Recommendation 16 which introduced the so-called “travel rule” requ...

Path: Blog
Innovate! crypto exchange OKEx has recently released data analysis platform for derivatives trading

**OKEx is one of the biggest digital asset exchanges based in Malta. The aforesaid crypto exchange has developed a platform with a wide-range of data insight, that covers trading trends for derivatives.** According to their press release, presumably this platform will allow OKEx users to see real-time data on the exchange’s futures and perpetual swap markets for nine major tokens, including ...

Path: Blog
Brand-new product - crypto exchange & Wallet License in Lithuania

**OFFSHORELICENSE LTD is proud to offer brand-new product - crypto exchange & Wallet License in Lithuania** [**crypto exchange & Wallet License in Lithuania**- click here](http://www.offshorelicense.com/licensing/crypto-exchange-and-wallet-license-lithuania) Recently, Lithuania started offering a friendly and well-regulated legal environment for crypto exchange and crypto wallet services pr...

Path: Blog
New anti-money laundering rules for crypto exchanges in Norway

**Norway Financial Supervision Authority (FSA) recently announced new requirements for virtual currency exchange providers and businesses that create, store and maintain cryptographic keys.** New money laundering rules shall come into force as of October 15, 2018, and will focus on reporting companies established in Norway, including branches of foreign companies. Also, the new requirements wi...

Path: Blog
Japan's Financial Services Agency is ready to approve crypto exchange-traded funds (ETFs)

At the moment the Financial Services Agency (FSA) of Japan is estimating the industry’s interest in ETFs (exchange-traded funds) tracking cryptocurrencies. Liberal Democratic Party, **Japan’s main ruling party, is planning to submit a draft law by March 2019, that, among other things, can potentially include changes to existing financial rules regarding cryptocurrency**. The above-mention...

Path: Blog
Indian Declaration on Cryptocurrencies Proposes Jail Term for Violation of Rules

...ing’ in cryptocurrencies ‘medium of exchange, store of value and a unit of account’, the summary of the bill stated. Furthermore, the declaration might extend to the self-custodial crypto wallet platforms that hold cryptocurrencies outside crypto exchanges. However, it is still unclear how the government is planning to impose such ban on a technology which is decentralized. Moreover, ...

Path: Blog
India is up to Classifying Crypto-Exchanges as e-Commerce Platforms

...crypto startups. There has been daily growing urgent need of crypto-industry regulations in India. The country has a wide spread of crypto-related services & activities among its citizens, which has thinkably resulted in the spawning of several crypto exchanges, while regulatory scenario is still remaining dark. During the last few weeks, the Indian government has held a number of high-level...

Path: Blog
Controversy on 30% Crypto Tax in India

... the crypto traders will be not allowed to offset their losses from the market. It means crypto traders cannot offset losses from crypto trading against their other business profits. As a result of those amendments to Indian tax legislation, many crypto exchange executives expect much lower trading volumes on their platform. Moreover, the 1 percent tax deductible at source (TDS) will further d...

Path: Blog
Head of the Estonian Financial Watchdog Endangers Crypto License Holders

...l Intelligence Unit (FIU), who has been appointed to his role in May, 2021, Matis Maeker, has recently made a statement that the country should re-start the licensing process of all crypto-related businesses in the country, which implies that all of crypto exchanges will be revoked their licenses. According to Estonian media outlet, Eesti Ekspress, the financial watchdog’s chief wants to ‘tur...

Path: Blog
Impact of New Legal Framework on Estonian Crypto Market

Since the establishment of fintech as an independent banking field, crypto exchanges have tried to find the right license that will enable them to conduct business with a possibly lowest limit of regulation, at the same time still trying to comply with local framework. Estonia is one of the most advanced digital nations and also the first country, which has implemented e-residency for global ...

Path: Blog
South Korea is planning to establish Crypto-Focused Bureau

...ue accounts using customers’ reals names in order of money laundering prevention. Exchanges failing to comply with abovementioned measures would not be able to operate in the South Korea. In fact, the picture is still unclear for major domestic crypto exchanges, as Upbit recently became the first one of the four existing most prominent crypto exchanges operating in South Korea to register bef...

Path: Blog
Japan to Tighten Crypto Rules for Preventing Sanctions Evasion

Japan Implement Stricter Crypto Rules in Order of Sanctions Evasion Prevention. - Legislation updates are initiated by the Russia-Ukraine war conflict. - In case crypto exchanges suspect unauthorized transactions, they are obliged to notify the FSA. The government of Japan is to tighten rules on cryptocurrency exchanges, as the country announced intentions to update its Foreign Exchange an...

Path: Blog
Japanese Financial Services Agency is discussing to impose stricter Crypto Laws

...ency adoption and legislation development, as some of the first crypto-exchanges were established here and led the market in Bitcoin trading for some years already. **Hacks Led to Strict Rules** After the massive attack on the Japanese leading crypto exchange, Coincheck, which resulted in theft of over $500 million worth of digital currencies, took place in 2019, major overhaul of Japanese c...

Path: Blog
Japan and South Africa are to set new crypto regulations

...Basel Committee on Banking Supervision proposed that a 1,250% risk weight to be applied to a bank’s exposure to Bitcoin and certain other cryptocurrencies. “Regulators in South Africa will first move to establish know-your-customer rules for crypto exchanges and create systems for the surveillance of the asset class in order to prevent money being laundered out of the country,” Naidoo sa...

Path: Blog
Hong Kong Securities and Futures Commission changing its previous "opt-in" approach

... and operating from Hong Kong, but are licensed by other crypto-friendly jurisdictions. The vast majority of these companies did not opt-in for the existing regulatory frameworks of the local jurisdiction, but SFC did not issue a full license to any crypto exchange, it only agreed to issue a license to few companies. Hong Kong is very promising financial hub and could be preferable jurisdiction...

Path: Blog
Can Bitcoin Replace Gold As the Safe-Haven Asset?

...less, evidence could be vague and show shifting standards in terms of direct correlation. Many reports have shown that Bitcoin’s connection to the price of gold had weakened as the trading volume declined at the beginning of the year. However, the crypto exchange noted on September that Bitcoin’s rally to an intra-month high of $12,480 coincided with NASDAQ tech giant, Microstrategy buying $25...

Path: Blog
First Digital Securities Exchange Approved by Financial Conduct Authority

...he amended Money Laundering Regulations (5MLD) and is now mandatory for all cryptoasset firms. Companies which are not registered with the FCA, on 10 January 2021 will have to cease trading. Following these new conditions and right after Archax, crypto exchange Gemini, a UK based subsidiary of the New York-headquartered exchange, also received permision from the FCA to start its operations in ...

Path: Blog
Government of India working on law to ban crypto trading

...r a framework of a law that will formally end trading in cryptocurrency in India. “Once Parliament resumes for the session, we are hoping to get it ratified," said government official. Previously RBI hostility forced many well-established local crypto exchanges to either shutter their services or move their base overseas. In the middle of the landmark court judgment, the trading volume of the...

Path: Blog
First central bank issued digital coin in the euro zone

...hers to build a specific set that can then be exchanged for a credit card-sized physical silver coin with a nominal worth of 19.18 euros. LBCOINs can be exchanged directly with the central bank and on private blockchain networks. The sum total of crypto exchange transactions from 2017 to 2018 stood at 661 million euros (around $762 million). According to ICO figures in October of 2018, Lithuani...

Path: Blog
“To trade or not to trade?” or How Chinese Exchanges Overcome the Bitcoin Ban?

... ban came into power on October 31st and now they need to move business or change their ways of work. A curious fact is that **OTC trading offerings** are still not banned as these trades have fiat currency support. This creates a way to work for **crypto exchanges** even now. Exchanges have not tested these ways of P2P offering yet and we will surely analyze how this works in practice. The schem...

Path: Blog
Attempts to Unify Cryptocurrency Regulation and Introduction of the Travel Rule

...entifying high-risk third countries and ensure a high level of protection for money moving to or from such countries. One of the most notable directives is the Travel Rule which requires “virtual asset service providers” (VASPs) — including crypto exchanges and custodial wallet providers — to disclose customer information when facilitating a trade of $1,000 or higher. This requirement r...

Path: Blog
From now cryptocurrency will be under AML rules in Thailand

...re for this, the secretary-general plans to amend local legislation and bring cryptos into the AML regime. The aforesaid process will start with the Anti-Money Laundering Act. **Changes shall be made in accordance with international standards on crypto exchange service providers, hence cryptocurrency exchange platforms will have to report their financial activities to the AMLO.** Local represe...

Path: Blog
Singapore authorities are planning to support crypto startups with receiving banking services

...pects of this modern industry. He also said: *"I hope we can bring minds together on this so that we can get over this hurdle."* As was stated in MAS report the central bank, at this moment has no object to employ a licensing mechanism for crypto exchanges, unlike its Japanese counterpart has done – granting licenses to 16 Japanese exchanges in order to help them obtain banking service...

Path: Blog
Coinbase starting over-the-counter crypto trading for institutional investors

On November 27 financial news network Cheddar announced that **Coinbase, one of the biggest United States crypto exchange and wallet provider, has recently started over-the-counter (OTC) trading for institutional clients**. Unlike trading through a crypto exchange itself, over-the-counter crypto trading makes it possible for institutional investors to carry out direct trades between each other...

Path: Blog
Top 5 crypto-friendly jurisdictions

...s the jurisdiction that competes with Gibraltar for the crown in the Mediterranean — and currently is in the lead. Just like Gibraltar, Malta is creating a framework for crypto companies with modern legislation. This year the former Chinese crypto exchange Binance, the world’s largest market for cryptocurrencies, moved to Malta. Jointly with the exchange and some other big players, the ...

Path: Blog
FATF is planning to release International Crypto Regulation by next summer

...ation of the cryptocurrency industry. As stated in the Reuters report Friday, **the FATF said it will publish international rules for cryptocurrency regulation by next summer**. The possible regulations will put into effect licensing schemes for crypto exchanges and probably for digital wallet providers. Businesses offering financial services for initial coin offerings will also be involved, t...

Path: Blog
Malaysia is planning to regulate initial coin offerings as securities offerings

We hasten to inform that **Malaysia’s SC (Securities Commission) recently has commenced regulation of ICOs and crypto exchanges**. New legislation (Capital Markets and Services Order) entered into force on Tuesday, January 15. The new prescription order means that ICOs and exchanges would require additional confirmation from the SC prior to commencement of operations and would have to compl...

Path: Blog
FINRA grants extended deadlines for companies to report their crypto activities

...ith members open on this important topic."* The list of crypto-related activities that FINRA outlined for its members to report include: • purchases and sales carried out with cryptocurrencies; • creation, management or participation of a crypto exchange, fund or derivatives product; • participation in an ICO or Pre-ICO; • facilitating the clearing or distribution of cryptocurrenc...

Path: Blog
UK FCA issued clarifications of cryptocurrency regulations

...he regulatory scope of the FCA, however, anti-money-laundering rules shall apply. The FCA stated that they have received ninety-two (92) responses in regards to the consultation paper from different firms, including banks, trade associations, and crypto exchanges. Most of them supported the proposals, as noted by the FCA. What is important, the guidance now implements a definition for securi...

Path: Blog
Japanese Officials Introduce New Amendments in Japan’s Crypto Laws

... crypto in Japan, amending existing regulations is the only way at this time for digital assets to have any kind of legal status in the Asian nation.**These will bring significant changes in the operation of crypto businesses in the country. The new crypto exchange-specific amendments add clarity to the market and introduce a number of important customer protections. According to new changes in...

Path: Blog
South Korea enforcing crypto rules

**Although South Korea is one of the main crypto exchange markets with exchanges holding about $1.9 billion worth of virtual currencies, there were no relevant regulations to this day.** After years of deliberations, the country has finally specified the legal framework for cryptocurrency. **The National Assembly of South Korea has passed a bill establishing a legal foundation for virtual cur...

Path: Blog
South Korea to tax capital gains on crypto

...Korea is determined to levy capital gains tax on digital currencies even if the forthcoming bill will not be approved. In order to levy taxes, the government will also have to precisely define the term of cryptocurrency and collect trading data from crypto exchanges operating in South Korea. Besides, South Korea’s government will have to decide whether the crypto gains tax will be implement...

Path: Blog
The UN warns on North Korean Crypto Conference

...inancial assets including cryptocurrency and banking transactions are also covered by sanctions. Moreover, last year the UN panel reported that North Korea is involved in sophisticated cyberattacks and generated about $2 billion by taking funds from crypto exchanges and financial institutions. The international community is concerned that North Korea might use blockchain technology for harmful pur...

Path: Blog
What is the reason behind the suspension of ePayments operations?

...freeze. One assumption is that because the electronic money institution remains one of the largest processors for “high-risk” industries which traditional banks tend to avoid. Many industry participants view that ePayments’ connection to a crypto exchange called Digital Securities Exchange (DSX) could possibly lead to suspension of operations of the regulated e-money company. Another...

Path: Blog
Norwegian airline’s customers may be able to purchase flight tickets with bitcoin

...oss Europe and North Africa, as well as the Americas. Last October, the company announced the best quarterly result with a pre-tax profit of about $215 million USD. The airline will collaborate with Norwegian Block Exchange (NBX) – a Norwegian crypto exchange and payment platform launched in 2019. The crypto exchange was supported by the oldest bank in Norway that has invested more than half...

Path: Blog
Leading Russian banks intend to work with crypto

...nown that the meeting was organized by a lobby group which includes Russia’s largest bank Sberbank, Alfa-Bank, VTB, and others. Members of the meeting also discussed regulatory issues with global experts, such as representatives from a Japanese crypto exchange Bitflyer, Singapore-based blockchain platform NEM, and cryptocurrency Litecoin. Luc Frieden, former Minister of Finance of Luxembourg ...

Path: Blog
Pandemic effect on Cryptocurrency markets

...0. Before Black Monday, when the price of Bitcoin dipped below $4,000, indicating that cryptocurrencies are not immune to the influence — and downturns — of traditional financial markets, the trading volume of Bitcoin spiked. Many other major crypto exchanges also reported the same uptick movement in the trade volume in the past weeks. The cryptocurrency market managed to recover from Black...

Path: Blog