Cryptocurrency exchange license
In order to setup and operate a cryptocurrency exchange venture, a person does require a licence first. The procedure to be undergone heavily relies on the jurisdiction your company is going to operate from. However, there is usually a set of common requirements, which must be met in any jurisdiction regardless.
establishing party’s ID verification;
full compliance with anti-money laundering regulations and policies;
partnership with a bank or financial institution in order to set up an exchange to fiat currency.
Many jurisdictions offer several different licences: one for cryptocurrency exchange and second one for operating crypto wallets. Prior to acquiring cryptocurrency license it is essential to understand your ultimate goals and operations you want to perform.
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