What I need to start an exchange and what are the laws?

[bitbollo]

Hi I write from Europe, Italy, I want ask how It's possible to create an exchange, like scripts (free it's better maybe or at least at a good price), and what for the Eu/USA laws I need to create an exchange.
If I host "outside" Italy and operate for example in Malta, what type of laws I have to follow?
Thank you to all that want to discuss!

[RaginglikeaBoss]

You'll save yourself a lot more money speaking to an appropriate attorney in your home country, Italy, than asking on a predominantly English-speaking forum.  This, I assure you.

[TheButterZone]

You need a sufficient amount of politicians & bureaucrats in your pocket. I'm not sure what the exchange rate for their bribes would be.

[bitbollo]

Thank you for your reply but for what that I know there are'nt exchange (classical exchange) in Italy, but only a site like localbitcoins (called bitboat) that give the opportunity to buy easily btc.
My question is about the way to create an exchange (rocktrading style for example or the dead mintpal):
rocktrading is hosted in Malta.... Did you know what are the rules, or the laws, to follow?!? Maybe how to operate outside the nation borders?

[gentlemand]

Do you intend to deal with Euros or will it be just a crypto to crypto exchange?

If no EUR is involved life will be much simpler. I'm not sure there are any laws for a crypto only exchange yet.

If it is EUR - BTC then you will need a lot of money to set it up correctly.

[SebastianJu]

Hi I write from Europe, Italy, I want ask how It's possible to create an exchange, like scripts (free it's better maybe or at least at a good price), and what for the Eu/USA laws I need to create an exchange.
If I host "outside" Italy and operate for example in Malta, what type of laws I have to follow?
Thank you to all that want to discuss!

Even when you have heard you can make a lot of money with it... you have to spend even more first. And when i read you searching free script (that doesnt exist and most probably wouldnt be safe enough to make people trust you) then i know you dont have the money to start this.

I suggest to forget that idea and check out other ideas. Even if you would have the money... there are already way too many exchanges in my opinion. You would have to compete with them. You are late to the game and i dont see a chance of you succeeding with this idea.

[bitbollo]

Hi I write from Europe, Italy, I want ask how It's possible to create an exchange, like scripts (free it's better maybe or at least at a good price), and what for the Eu/USA laws I need to create an exchange.
If I host "outside" Italy and operate for example in Malta, what type of laws I have to follow?
Thank you to all that want to discuss!

Even when you have heard you can make a lot of money with it... you have to spend even more first. And when i read you searching free script (that doesnt exist and most probably wouldnt be safe enough to make people trust you) then i know you dont have the money to start this.

I suggest to forget that idea and check out other ideas. Even if you would have the money... there are already way too many exchanges in my opinion. You would have to compete with them. You are late to the game and i dont see a chance of you succeeding with this idea.

No wait, don't take quickly solutions to problem that I haven't provided!
I ask for free script only for see "inside" and then use it for a point of start.
I don't know how many money I need to start a pro-site, but maybe I can start with the minimum investments (under 10k $).

I appreciate your idea about "competition" with others, it's inside every type of business I guess...

[bitbollo]

Do you intend to deal with Euros or will it be just a crypto to crypto exchange?

If no EUR is involved life will be much simpler. I'm not sure there are any laws for a crypto only exchange yet.

If it is EUR - BTC then you will need a lot of money to set it up correctly.

You think I need money to cover the site expense, or to create a "reserve"?
Maybe to start, and to optimize the expenditure a BTC- ALT is much more interesting solutions, also that I know there is a lot of people involved in this field, but I think it's a "new" sector, with the possibility to improve a lot of new technologies aspect, or only to try to extend an exchange to people that not known bitcoin or it's related technologies.

[SebastianJu]

Hi I write from Europe, Italy, I want ask how It's possible to create an exchange, like scripts (free it's better maybe or at least at a good price), and what for the Eu/USA laws I need to create an exchange.
If I host "outside" Italy and operate for example in Malta, what type of laws I have to follow?
Thank you to all that want to discuss!

Even when you have heard you can make a lot of money with it... you have to spend even more first. And when i read you searching free script (that doesnt exist and most probably wouldnt be safe enough to make people trust you) then i know you dont have the money to start this.

I suggest to forget that idea and check out other ideas. Even if you would have the money... there are already way too many exchanges in my opinion. You would have to compete with them. You are late to the game and i dont see a chance of you succeeding with this idea.

No wait, don't take quickly solutions to problem that I haven't provided!
I ask for free script only for see "inside" and then use it for a point of start.
I don't know how many money I need to start a pro-site, but maybe I can start with the minimum investments (under 10k $).

I appreciate your idea about "competition" with others, it's inside every type of business I guess...

Though thats already the problem. There is no free script. Why should someone create a free script knowing that others will earn money with it then?

If you are a really good coder then you might be able to make it... but it will take much time for sure. And the outcome will most likely be like i described. Maybe i underestimate your coding skills but your questions somehow makes it look like it was an idea you got 5 minutes before. And it sounded like you imagine things WAY too easy.

Competition, right. You will see you faced with competition like the whinklevoss brothers, having millions, creating an exchange. And even then... it does not look like their exchange is the cashcow they wished since there are the competition of no fee chinese exchanges and the other established exchanges. Even though they have unique things speaking for their exchange.

I wanted to push your image of "making an exchange" into the correct ligt a bit only. No offence meant.

[bitbollo]

Hi I write from Europe, Italy, I want ask how It's possible to create an exchange, like scripts (free it's better maybe or at least at a good price), and what for the Eu/USA laws I need to create an exchange.
If I host "outside" Italy and operate for example in Malta, what type of laws I have to follow?
Thank you to all that want to discuss!

Even when you have heard you can make a lot of money with it... you have to spend even more first. And when i read you searching free script (that doesnt exist and most probably wouldnt be safe enough to make people trust you) then i know you dont have the money to start this.

I suggest to forget that idea and check out other ideas. Even if you would have the money... there are already way too many exchanges in my opinion. You would have to compete with them. You are late to the game and i dont see a chance of you succeeding with this idea.

No wait, don't take quickly solutions to problem that I haven't provided!
I ask for free script only for see "inside" and then use it for a point of start.
I don't know how many money I need to start a pro-site, but maybe I can start with the minimum investments (under 10k $).

I appreciate your idea about "competition" with others, it's inside every type of business I guess...

Though thats already the problem. There is no free script. Why should someone create a free script knowing that others will earn money with it then?

If you are a really good coder then you might be able to make it... but it will take much time for sure. And the outcome will most likely be like i described. Maybe i underestimate your coding skills but your questions somehow makes it look like it was an idea you got 5 minutes before. And it sounded like you imagine things WAY too easy.

Competition, right. You will see you faced with competition like the whinklevoss brothers, having millions, creating an exchange. And even then... it does not look like their exchange is the cashcow they wished since there are the competition of no fee chinese exchanges and the other established exchanges.

I wanted to push your image of "making an exchange" into the correct ligt a bit only.

No way, I never think it's easy! I know it's difficult and expensive, and this is for why I ask here!
No, I don't want write all code by myself (I am not a really good coder ), but only to understand some features, capabilities, strenght etc...

What is the whinklevoss exchange? Can you give me some informations?

Thank you for turn on a light in the correct way .. but I don't think that all the possibilities for an exchange are really explored... maybe I wrong but maybe there is the possibility to create a little honest exchange!

[SebastianJu]

The exchange from winklevoss brothers is named gemini and its regulated and secure. They hope to get traders with these features of course.

Good luck with it. I would not try to compete them even if i would have some spare million USD. I simply would think the chance is high that i wont see my investment back.

What i would do is search for unique ideas that could bring money, projects, maybe fund as a venture investor, though i would make sure that i have a valid contract and the one i support will be able to handle it.

Hi I write from Europe, Italy, I want ask how It's possible to create an exchange, like scripts (free it's better maybe or at least at a good price), and what for the Eu/USA laws I need to create an exchange.
If I host "outside" Italy and operate for example in Malta, what type of laws I have to follow?
Thank you to all that want to discuss!

Even when you have heard you can make a lot of money with it... you have to spend even more first. And when i read you searching free script (that doesnt exist and most probably wouldnt be safe enough to make people trust you) then i know you dont have the money to start this.

I suggest to forget that idea and check out other ideas. Even if you would have the money... there are already way too many exchanges in my opinion. You would have to compete with them. You are late to the game and i dont see a chance of you succeeding with this idea.

No wait, don't take quickly solutions to problem that I haven't provided!
I ask for free script only for see "inside" and then use it for a point of start.
I don't know how many money I need to start a pro-site, but maybe I can start with the minimum investments (under 10k $).

I appreciate your idea about "competition" with others, it's inside every type of business I guess...

Though thats already the problem. There is no free script. Why should someone create a free script knowing that others will earn money with it then?

If you are a really good coder then you might be able to make it... but it will take much time for sure. And the outcome will most likely be like i described. Maybe i underestimate your coding skills but your questions somehow makes it look like it was an idea you got 5 minutes before. And it sounded like you imagine things WAY too easy.

Competition, right. You will see you faced with competition like the whinklevoss brothers, having millions, creating an exchange. And even then... it does not look like their exchange is the cashcow they wished since there are the competition of no fee chinese exchanges and the other established exchanges.

I wanted to push your image of "making an exchange" into the correct ligt a bit only.

No way, I never think it's easy! I know it's difficult and expensive, and this is for why I ask here!
No, I don't want write all code by myself (I am not a really good coder ), but only to understand some features, capabilities, strenght etc...

What is the whinklevoss exchange? Can you give me some informations?

Thank you for turn on a light in the correct way .. but I don't think that all the possibilities for an exchange are really explored... maybe I wrong but maybe there is the possibility to create a little honest exchange!

[NorrisK]

I would seriously think about it a second and a third time.. Running an exchange is really hard will all the hackers lurking around.. Siunce you are talking about a script, I guess you cannot build an exchange yourself. Better leave it to someone who can.

[Fabrizio89]

There's already something in Italy, rocktrading. Come in the italian forum and look at their topics.

[Blackbird0]

Talk to licensed legal counsel in your jurisdiction, which sounds like Italy. I would suggest you not seek legal advice on these forums or on the internet.

[Amph]

Talk to licensed legal counsel in your jurisdiction, which sounds like Italy. I would suggest you not seek legal advice on these forums or on the internet.

the problem is that in italy there is no regulation about crypto, at all, no one kown anything on how to get around this, they(taxman, business consultant)only give their opinion, which is useless , that's it, but nothing is official, italy like others country in euro are waiting some words from the European Central Court

[xarca]

Talk to licensed legal counsel in your jurisdiction, which sounds like Italy. I would suggest you not seek legal advice on these forums or on the internet.

the problem is that in italy there is no regulation about crypto, at all, no one kown anything on how to get around this, they(taxman, business consultant)only give their opinion, which is useless , that's it, but nothing is officially, italy like others country in euro are waiting some words from the European Central Court

Then he probably should just wait for one as well. Or host his exchange offshore.