Crypto license
Cryptocurrency continues to attract the attention of those who want to create their own business project. One of the most popular destinations in the field has become the creation of crypto exchanges – online platforms where you can conduct transactions in cryptocurrency or exchange them for traditional (fiat) means. In order for such a project to function legally, it is necessary to obtain a cryptocurrency license. A crypto license must be obtained for activities related to virtual currency, i.e. a value expressed in digital form that can be transferred, retained or exchanged digitally, and which natural or legal persons accept as a means of payment, but which is not a legal means of payment in any country. A wallet service for virtual currency, which generates keys for customers or stores client keys, and these keys can be used to store and transfer virtual currencies.

The importance of crypto license
A cryptocurrency license is an authorization document that is required when creating certain types of crypto projects.
Thanks to the licensing procedure, the project is recognized as legal, that is, in accordance with the legislation of the country. There are a growing number of States where digital assets are not only loyal but also regulated officially.
The terms and conditions under which a new platform organizer can obtain a license vary from jurisdiction to jurisdiction. The legal framework of each country determines its own requirements and criteria for this activity.
The cryptocurrency license provides a completely legal way to engage in crypto projects and perform various actions with digital assets. Licenses may be specialized or traditional. To get a crypto license, you need to register a business, open the necessary accounts, hire specialists, prepare hardware and software, collect and submit documents to the regulator.
Why obtain a cryptocurrency license?
Basic requirements for obtaining a crypto license
Address
Hotline
Support
Presence of a real office , which can be visited at any time by the regulator. The company should also develop and adopt. Regulations on the prevention of illegal money laundering (AML Regulations), Internal Control Rules, Procedural Regulations based on the Law on International Sanctions. Requirements for compliance with GDPR should be taken into account. The minimum authorized capital is 12,000 EUR, which must be paid in full by the time the license application is submitted (in this case, the CC cannot be expressed in cryptocurrency and must be deposited in an account with IBAN, opened with a financial institution in the territory of the European Economic Area, EEA). Prior to the registration of the company and receipt of the license, it is recommended to carry out a legal examination of the project for compliance with the legislation and the selected license (ready to organize on request). The time limit for the consideration of license applications by the regulator is 60-120 days from the submission of a complete set of documents and information, including answers to additional questions from the local regulator (does not include the period of registration of the company and preparation of the set of documents).