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eduinvestor
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December 06, 2017, 02:55:51 PM
 #1

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

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December 07, 2017, 02:59:34 AM
 #2

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

You should search the applicable laws in the country where you are trying to open the platform. With the recent surge of the cryptocurrency prices and popularity, authorities are more strict in dealing with cryptocurrencies. You should try to ask a lawyer in your country and ask him if there are already regulations related to opening up a trading platform. Since you are opening up a business, there should be some regulations involved but it would depend then on the nature and scope of your business.

If there is fiat involved then the government would be more strict about that. You have to get permits and licenses to operate one. The best thing to do is ask the professional services of a lawyer and accountant too for establishing your business.


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December 13, 2017, 03:16:55 AM
 #3

Hello guys, 1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations? 2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

Since we now have many businesses engaged in offering trading platform for as many people as possible, then it can be possible to operate such a platform legally. Of course, you must make sure that the business has all the permits and licenses needed before you open the door for clients or members. There are now many countries which welcome such a business and even in USA you can open one though you have to go through the strict process to make sure that your operation is above board otherwise you can be subjected to prosecution. Next year, we should be expecting more and more cryptocurrency trading site to open for business and there are event hose who raise funds for the business via the ICO platform. I also understand that there are now decentralized trading platform which many prefers to avoid intervention from the operators. Make sure that you know what you are getting into and that you are offering a unique selling proposition (USP) to make the business a standout in the sea of your competitors. Good luck!
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December 13, 2017, 08:56:31 PM
 #4

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?


2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

as many said, you need to hire a lawyer to instruct you step by step about what you should do, but just giving my personal opinion, I do not think exchange like yobit and some others have a lot of documents to operate, I say this because many exchange has no phone service for the support, many exchange that does not have physical office where you can go and expose your problem and it seems to me that many exchange have lack of employees for support tickets.

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December 13, 2017, 09:18:45 PM
 #5

You know, it's good to search on Google to find what you're looking for. But since you bring that up. I can help you atleast in a small details.

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?


Yes, but still depends on legality of cryptocurrency in your country. Just take a look at this site
https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Also most of cryptocurrency trading platforms must now complied to rules and regulations of a country. So i think you should make it your exchange to a AML/KYC compliance.

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

Some cryptocurrency exchange has a trading pair for USDT where you can trade your cryptocurrency to fiat. I just don't know if it can support EUR or other currencies. That would be nice if many fiat trading pairs created

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December 13, 2017, 10:25:33 PM
 #6

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)
When you do only talk about Local fiat currency trading then im sure it would really be legal anytime as long you do able to comply the requirements for you to make such operation but come to think off to become a broker you would really need to have lots of money to start on and it wont really be an easy job for sure and since you do mention about crypto then this is the time you would need to consult a lawyer into your place on where you would ask if bitcoin and other crypto currency would really be safe to be traded on and start your own exchange into your place without any violation towards it.

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December 13, 2017, 11:33:17 PM
 #7

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?

Only your country regulations can answer this, there are countries that are allowing this whether they allow that or if they don't have any interest to tackle anything related to crypto's.

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

I guess it doesn't matter if you'll list with other currencies like binary trading but what will the gov't be aware of is when you started to include your local currency.

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December 14, 2017, 10:40:49 AM
 #8

Any use in its activities, Fiat requires you to have a license from the national Bank currency which you use in your activities. In order to obtain such a license need to match a very large number of requirements. You may be forced to provide information about their customers. In addition, you should have a very powerful security system from hackers. Need to tailor their capabilities. I think you have nothing.

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December 14, 2017, 10:44:54 AM
 #9

You should take a look to your country regulation or you need to move to a "friendly" country for service you want to offer.

But consider that real issue is money laundering policy, that have no boarders.


Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)
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December 14, 2017, 03:21:40 PM
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A trading platform is a software through which investors and traders can open, close and manage market positions. Trading platforms are frequently offered by brokers either for free or at a discount rate in exchange for maintaining a funded account and/or making a specified number of trades per month.A trading platform is the software that allows investors and traders to place trades and monitor accounts. Oftentimes, trading platforms will incorporate market analysis software as well, whereby traders and investors can chart the markets and perform stock screens.
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January 13, 2018, 11:00:41 PM
 #11

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?
Yes, It is more easy to open crypto-trading platform as there is less legal formalities are involved in such exchanges. In most of the countries, there are no set rules for opening such platforms. Even KYC/AML is not compulsory on such exchanges as BTC deposits are accepted there from worldwide.

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)
You should check your country legality terms very keenly to open such exchange as in it REAL fiat money is involved. KYC/AML is mostly needed on such exchanges. Govt. Always have a keen eye on working of such exchanges.
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January 14, 2018, 07:16:22 AM
 #12

Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?

2) What about a trading platform where cryptos and FIAT money are traded? (BTC/EUR, BTC/USD...)

Yes it is legal. If you want to open a trading platform then you try it because it is legal! And that trading platform from cyptos to fiat is a great idea!
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January 25, 2018, 05:46:44 PM
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Hello guys,

1) Do you know if it's legal to open a trading platform where ONLY cryptos are traded? (BTC/LTC, BTC/ETH, ETH/LTC, etc.) Are there regulations?


You should search the applicable laws in the country where you are trying to open the platform. With the recent surge of the cryptocurrency prices and popularity, authorities are more strict in dealing with cryptocurrencies. You should try to ask a lawyer in your country and ask him if there are already regulations related to opening up a trading platform. Since you are opening up a business, there should be some regulations involved but it would depend then on the nature and scope of your business.

If there is fiat involved then the government would be more strict about that. You have to get permits and licenses to operate one. The best thing to do is ask the professional services of a lawyer and accountant too for establishing your business.
We don't know where are you going to create a new business and we cann't give you advice.
You probably already know that you need a lot of money and generous investors,because there are a high competition in this business.You need to understand jurisdictional issues and what norms are in your country.So you need lawyer.In additional ,as I know,You must establish and choose the legal form,Choosing the legal form under wich a business will operate used to be one of the more complex decisions an entrepreneur had to make when organizing a new business.These issues should be well understood.while many entrepreneurs consider  limited liability companies the optimal choice there are still reasons to organize a business in a different way...So there are many complex issues and you need relevant persons for help.

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February 01, 2018, 11:57:46 PM
 #14

I don't know much about crypto-to-crypto trading platform(exchange) legal restrictions. As these such exchanges, many cryptos can be traded and traders all around the world are active on it. So I don't know what legal restrictions are applied on these exchanges in order to protect the financial interest of global traders.
On the other hand, Fiat to Crypto exchanges has to adhere legal guideline and formalities of residing(or operating) country's law. Like In my country, such Exchanges has to verify the KYC submitted by users before letting them trade on the exchange.

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Ompyon
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February 06, 2018, 04:18:59 AM
 #15

I don't know much about crypto-to-crypto trading platform(exchange) legal restrictions. As these such exchanges, many cryptos can be traded and traders all around the world are active on it. So I don't know what legal restrictions are applied on these exchanges in order to protect the financial interest of global traders.
On the other hand, Fiat to Crypto exchanges has to adhere legal guideline and formalities of residing(or operating) country's law. Like In my country, such Exchanges has to verify the KYC submitted by users before letting them trade on the exchange.
there seems to be no legal restriction, all based on mutual trust, but indeed for his FIAT transactions required verification of KYC because it is the rule of some exchangers

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