LEGAL REGULATION OF CRYPTO ACTIVITIES
Investments in real estate, stocks, precious metals, and bonds - today it is like a response from the past. They were completely eclipsed and became at the peak of their popularity, and even, one might say, at the legal start - investments in cryptocurrency. In just a few years, this type of activity has turned from risky and incomprehensible, into legal and even profitable. Today, everyone is talking about such terms as mining, blockchain, NFT, ICO, cryptocurrency wallets, etc. And it is not only technological but also promising.
Since this type of activity is new, the legislative field in the world is rather ambiguous and does not have a unified approach. The legal regime for cryptocurrencies is different in each country and still remains to change. New rules and restrictions are being introduced, approaches are changing. Some countries completely prohibit activities related to virtual assets.
Despite this, cryptocurrency is actively developing and even becoming a legal means of payment. In turn, international institutions, including the FATF, are developing common criteria and rules for the future existence of the crypto industry. And all this is done only to ensure that this area is cleared of illegal businesses and scammers who could take advantage of the lack of proper regulation.
Thus, the crypto activity becomes an integral part of the modern digital economy. And very attractive for starting a business.
TOP POPULAR JURISDICTIONS FOR CRYPTO BUSINESS
The following jurisdictions are loyal to crypto activities in the legal and legislative fields:
- Cayman Islands
In these countries, activities related to virtual currencies are legalized and allowed. Moreover, in some jurisdictions from the list, there are no licensing requirements for such activities, which saves not only the budget but also the time spent to launch the project.
By contacting Campio group, you can receive the following services related to virtual assets:
- Consultations on the creation of a crypto company (legal regulation, taxes, reporting)
- Selection of jurisdiction for registering a company for activities with virtual assets
- Analysis and preparation of the necessary package of documents in accordance with the requirements of KYC, AML
- Obtaining permits or licenses for working with crypto
- Selection of a foreign bank or payment system for opening an account
- Preparation of annual accounting and financial support (preparation of reports)
OBTAINING A CRYPTO LICENSE
Since the legislation in the field of crypto assets is quite dynamic, the regulation and rules for doing this business may change. In countries where trading, exchange, and mining of cryptocurrencies is allowed, such activities often require obtaining a special permit from the Regulator - a license or registration in a special register.
As part of our cooperation with the Campio Group, our specialists can help with the issuance of crypto licenses:
- Crypto licenses in Portugal;
- Crypto licenses in Georgia;
- Crypto licenses in the UAE;
- Registration of a work permit in the field of cryptocurrencies (registration in a special register) in Lithuania.
Obtaining these licenses is a very time-consuming process, because crypto-activities are classified as high-risk, and must be carefully checked and protected from various kinds of fraudsters. Therefore, it is necessary to be prepared for strict AML control, KYC identification, documentary evidence of well-being, as well as compliance with a number of other requirements. But, together with our lawyers, this process will be more comfortable, predictable, and guaranteed, given our experience and the availability of reliable partners.
If you need professional support for a crypto business or other legal assistance related to the creation of a crypto company, please contact:
+38 (098) 737-88-88
Our company will help you choose a profitable jurisdiction for the specified purposes, open an operating account for the company, and also provide further tax and accounting support for crypto activities.
The manager will contact you shortly.