What compliances are necessary for exchanges

[jonathan2]

For setting up an exchange - a marketplace for matching sellers and buyers of bitcoin - what are the necessary regulation that needs to be in compliance?

Know your customer

anti-money laundering and financing of terrorism act

Is there any other regulation that I'm missing out on? This would be applicable to european exchange and thus not in the US.

Thanks.

[1714874019]

1714874019

[1714874019]

1714874019

[johnatan32]

What I know is that the main installation, sure to have more minor regulations

[nahtnam]

Doesnt it depend on each country/state?

[Massimo80]

This strongly depends on the country where the company is located; it can also depend on the countries its customers are from.

[LostDutchman]

What I know is that the main installation, sure to have more minor regulations

To operate as an exchange in the USA requires Fin-CEN compliance, federal registration as a money service business and registration in the 48 states which require such registration.

The above will only cost you a few million dollars but go for it!

[Harley997]

For setting up an exchange - a marketplace for matching sellers and buyers of bitcoin - what are the necessary regulation that needs to be in compliance?

Know your customer

anti-money laundering and financing of terrorism act

Is there any other regulation that I'm missing out on? This would be applicable to european exchange and thus not in the US.

Thanks.

AML/KYC are the main compliance issues that most exchanges face.

Another big issue is to keep customer funds segregated (at least for money transmitters)

[LostDutchman]

For setting up an exchange - a marketplace for matching sellers and buyers of bitcoin - what are the necessary regulation that needs to be in compliance?

Know your customer

anti-money laundering and financing of terrorism act

Is there any other regulation that I'm missing out on? This would be applicable to european exchange and thus not in the US.

Thanks.

AML/KYC are the main compliance issues that most exchanges face.

Another big issue is to keep customer funds segregated (at least for money transmitters)

Wrongo, Boyo!

Registration as a Money Service Business is required on the federal level and in each and every state in the USA which requires such registration in order to do business in the USA.

If you doubt me, educate yourself by looking it up.