What are cryptolicences, and how to get one?
If there is anything that can help us distinguish the 21st century from previous eras, it is the emergence and rise of digital currencies. In 2020, no one can deny that crypto coins are becoming more and more popular, especially bitcoin (BTC), the absolute king of the crypto market.
In 24 hours, transactions related to the purchase and sale of bitcoins can reach300,000, an amount that has been growing in recent months. This shows the interest of users from many parts of the world to acquire cryptcoins. Their price is attractive and, even if they are unstable, in the long-term, they offer enormous growth.
Investors growingly see crypto as a serious portfolio diversification vehicle and are increasingly adding crypto to their assets. This is especially true right now as crypto prices are increasing, and COVID-19 has added uncertainty to traditional investment vehicles.
Without a doubt, a person who decides to offer transaction services with cryptocurrencies will have demands and clients. Still, it is necessary to take into account that for this,cryptolicenses become necessary.
Don't know what we are talking about? These are the licenses that will allow you to exchange cryptocurrencies.
Cryptolicences in the world
While many countries agree with the use of digital currencies, there are others where uncertainty still prevails and have chosen not to allow these transactions.
Bolivia, Ecuador, and India are some of the territories where cryptocurrency is frowned upon (in some cases, penalized by law). In Vietnam, there is such a refusal that even the use of these currencies was declared illegal. It is even possible to receive a fine if government entities discover that a person is making this type of exchange.
Fortunately, this mentality is not the one that has prevailed around the globe.
On the contrary, many jurisdictions have understood the rise of bitcoin and other options, so they are beginning to regulate transactions (which, as we saw earlier, are quite common).
Allowing anyone to oversee such delicate operations can bring problems not only for those involved but also for the country. Thus, there is a need to create licenses that regulate the crypto market.
Thanks to a license of this type, you could become a provider of services related to digital currencies, such as currency exchange, payment systems, e-wallet, and alternative means of payment. In certain countries, it will also be possible to buy precious metals and stones in bulk.
What licence should you choose?
As usual, it depends on your needs. If your business focuses mainly in the EU, you have two top choices, Estonia and Malta. Malta was the first country to enact cryptolicencesand the Estonia crypto license is known as theleadinglicencing jurisdiction. It has top telecommunications, a robust legal frame, a swift process, and good tax optimization possibilities. These two licences have passporting rights. Thus, you do not need to re-register or re-apply for a licence in any other EU jurisdiction if you wish to expand your business.
If you want a swift process, Montenegro is the best option. It has a regulatory sandbox that will allow you to start your crypto business before licencing and only paying for the licence afterwards. It will also provide excellent tax optimization because the corporate tax rate is just 11%.
But if you’re looking for even better tax optimization, Saint Kitts and Nevis recently approved a Virtual Asset Act. It will create an affordable and swift licencing process in an offshore, low-tax jurisdiction. Thanks to our experts, we will be one of the first service providers that will be able to help investors obtain this licence.
What can we do for you?
In Mundo, we work with pioneering experts in all the best crypto jurisdictions in the world. We can help you obtain a cryptolicence securely and swiftly. Our experts can find a tailor-made solution for you, depending on your specific business needs. Contact us right now, and we’ll find a crypto solution for you.
$170,000
$2,500,000
$350,000
$1,400,000
$395,000
In 2025, the world continues to evolve rapidly. Globalization, digitalization, and economic challeng...
As the festive season approaches, we would like to take this moment to extend our heartfelt wishes t...
As the dynamic year comes to a close, it’s clear that when choosing the best real estate offer, 2024...
The business world is wide and complex. From jurisdictions to taxes, from reporting to maintaining, ...
Nevis has established itself as a reliable jurisdiction for international business. If you're lookin...
When finishing another year there's nothing like having a clear perspective of the past with eyes to...