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Author Topic: what is the best jurisdiction for a crypto exchange ?  (Read 406 times)
trade.worldwide
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December 07, 2017, 04:24:06 AM
 #1

what is the best jurisdiction for a crypto exchange startup ?
Japan not good, too long registration and hi cost
Luxembourg (PI) also logn&hi cost

Where to start a start-up legally?
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December 07, 2017, 11:20:05 AM
 #2

You probably don't realize what is the currency exchange. This is not only a huge amount of working capital but also the conditions of strict control over the transactions. Constant struggle with hacker attacks. All this in a great risk to fail. Why are you doing this? It seems to me that you need to match their capabilities.


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trade.worldwide
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December 08, 2017, 02:33:10 PM
 #3

You probably don't realize what is the currency exchange. This is not only a huge amount of working capital but also the conditions of strict control over the transactions. Constant struggle with hacker attacks. All this in a great risk to fail. Why are you doing this? It seems to me that you need to match their capabilities.
Curr exchange realized, more 1 year working. Trade engine high load optimized.
Not afraid of attack hackers, maybe start bounty program for hackers.
We have the best specialists in information security. Coins are safely stored on cold wallets.
So, hackers are welcome )

Question of legality only.

Quote
Why are you doing this?
Can and want to do that business better than others.

What is the best jurisdiction for a crypto exchange ?
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December 09, 2017, 08:46:08 PM
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the answer is perhaps dependent on whether or not you want to operate legally within the US. The total cost to obtain the requisite licenses in the 48 states and Dist of Columbia that require a license is approx $100,000 in application and bonding fees. The time for each state varies, but having done it i will tell you it is a fairly involved task

If you are keen to operate offshore, follow where the licensure is easy to obtain. Belize has a rather simple and quick process for obtaining a money transmitter license and the application fees are minimal . The corporate formation costs are also minimal. The Cook Islands is also a great jurisdiction with major banks being located there, the price is a bit more however.

I have a few thoughts on this if you care to chat - feel free to PM me
iamTom123
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December 10, 2017, 03:50:44 PM
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What is the best jurisdiction for a crypto exchange startup? Japan not good, too long registration and hi cost
Luxembourg (PI) also long & hi cost. Where to start a start-up legally?

You might consider establishing the same business in a third-world country which allowed the operation of a cryptocurrency exchange. Doing business in Asia can be a good choice...so maybe take a look at Thailand or the Philippines where cryptocurrency business is now legal and the government is more inclined and lenient to fintech companies. Of course, there are so many choices you may consider seriously as costs and legal requirements can vary from country to country.
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December 10, 2017, 07:22:23 PM
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There are always those safe havens in the Caribbean area, i.e. British Virgin Islands, that are lenient for cryptocurrencies. Granted they are also those same places that shady businesses go to so that their information remains private before they scam the uninformed out of their coin/cash. What is your plan for an exchange btw? Do you have a current white paper for potential investors/users to read to get familiar with your project while you're setting up your residency? I think putting something out there for people to read and potentially comment on could improve your project and get people there when you come online. Just my 2 sats.

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December 11, 2017, 02:24:15 PM
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Denmark is probably the best choice, an extremely developed and smart country, transparent and encourage Bitcoin business (encourage all technologies).You also have scandinavians countries : Finland (localbitcoins is there), Sweden, Norway.Other countries where exchangers are Registred are : Hong Kong, Japan, Taiwan.The only countries to avoid are :The United States.Weak European countries (France, Estonia and so on).Undeveloped countries.
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December 12, 2017, 12:14:58 AM
 #8

Regulations are local. It doesn't matter where you are, what matters is where you want to do business.

You may start an exchange in the Caribbean, or Japan, but if you want to do business in the US, or in the EU, you will have to comply American or European regulations.

Read more from me and follow me on Steemit: https://steemit.com/@countryfree
trade.worldwide
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December 17, 2017, 02:40:15 PM
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the answer is perhaps dependent on whether or not you want to operate legally within the US. The total cost to obtain the requisite licenses in the 48 states and Dist of Columbia that require a license is approx $100,000 in application and bonding fees. The time for each state varies, but having done it i will tell you it is a fairly involved task

If you are keen to operate offshore, follow where the licensure is easy to obtain. Belize has a rather simple and quick process for obtaining a money transmitter license and the application fees are minimal . The corporate formation costs are also minimal. The Cook Islands is also a great jurisdiction with major banks being located there, the price is a bit more however.

I have a few thoughts on this if you care to chat - feel free to PM me
1. We do not want to work legally in the US. Afraid that in the future US can make a lot of problems for crypto currency exchanges
2. Offshore more interesting. Thank U 4 info about Belize license. Looks great, quickly,
but company will have to fulfill a minimum capital paid up requirement ($50.000-100.000).

PM U.
trade.worldwide
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December 17, 2017, 03:05:16 PM
 #10

You might consider establishing the same business in a third-world country which allowed the operation of a cryptocurrency exchange. Doing business in Asia can be a good choice...so maybe take a look at Thailand or the Philippines where cryptocurrency business is now legal and the government is more inclined and lenient to fintech companies. Of course, there are so many choices you may consider seriously as costs and legal requirements can vary from country to country.
Philippines licence start from 100k+++. Not good.
Thailnad - Thank U ! Interesting! Some Forex brokers have Thai license. Began to research.
trade.worldwide
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December 18, 2017, 06:41:34 AM
 #11

There are always those safe havens in the Caribbean area, i.e. British Virgin Islands, that are lenient for cryptocurrencies. Granted they are also those same places that shady businesses go to so that their information remains private before they scam the uninformed out of their coin/cash. What is your plan for an exchange btw? Do you have a current white paper for potential investors/users to read to get familiar with your project while you're setting up your residency? I think putting something out there for people to read and potentially comment on could improve your project and get people there when you come online. Just my 2 sats.
Looking to BVI before UK began to close accounts related to crypto. Think possible same thing will happen in BVI. As well BVI not cheap jurisdiction.
No white paper, but will be soon.
trade.worldwide
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December 18, 2017, 06:50:19 AM
 #12

Denmark is probably the best choice, an extremely developed and smart country, transparent and encourage Bitcoin business (encourage all technologies).You also have scandinavians countries : Finland (localbitcoins is there), Sweden, Norway.Other countries where exchangers are Registred are : Hong Kong, Japan, Taiwan.The only countries to avoid are :The United States.Weak European countries (France, Estonia and so on).Undeveloped countries.
Thank U for answer. Research Denmark.
About Finland  and Localbitcoins, Localbitcoins do not receive&send customer money, just search service, not need any license !
Japan as stated above very expensive for start up. Hong Kong also not cheap and not quickly.
donmiguello
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December 18, 2017, 01:14:45 PM
 #13

Incorporate in the carribean its the best solution. I have two exchangers, one anonymous and one legaly registered in the carribean.

If you are going to have an exchanger like binance then its easy to incorporate in the carribean, the price for all paper ,legal doc and licence was $28.000 last year,the licence is valide for 20 years. and you will 0nly pay $6000 tax every november.just mention you have one director. you dont need to live in this country to incorporate.

Then if you going to have an exchanger like poliniex the licence and all paper doc will cost you $60.000 ,they will open a business account bank for you, and one of your team should be citizen one of the country in the caricom. and you will 20% tax from your profit.

sammyh
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January 29, 2018, 10:52:22 PM
 #14

Incorporate in the carribean its the best solution. I have two exchangers, one anonymous and one legaly registered in the carribean.

If you are going to have an exchanger like binance then its easy to incorporate in the carribean, the price for all paper ,legal doc and licence was $28.000 last year,the licence is valide for 20 years. and you will 0nly pay $6000 tax every november.just mention you have one director. you dont need to live in this country to incorporate.

Then if you going to have an exchanger like poliniex the licence and all paper doc will cost you $60.000 ,they will open a business account bank for you, and one of your team should be citizen one of the country in the caricom. and you will 20% tax from your profit.



Wonder what is the cause of the dramatic cost differences between binance and poliniex?
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