top of page

Crypto Licensing 101: The Essentials

Updated: Nov 30, 2022


What is Crypto - Licensing:


Cryptocurrency licensing is the process of acquiring a license in order to conduct business related to cryptocurrency. This includes exchanges, mining pools, and wallets.


There are several reasons why you might need a cryptocurrency license. The first is that it allows you to operate legally in the country or region where you are doing business. It also provides some assurance to customers that your business is legitimate and regulated. Finally, it can help protect you from legal issues and disputes.


If you are considering starting a business related to crypto, it is important to research the licensing requirements in your area. The process of obtaining a license can be complex and time-consuming, so it is important to start early.

Cryptocurrency Licensing Trends:


Cryptocurrency licensing is a process that is constantly evolving, as regulators struggle to keep up with the rapidly-growing industry. A new report from the European Union Agency for Network and Information Security (ENISA) predicts that by 2030, most crypto-related businesses will be licensed and regulated.


The report discusses the future of cryptocurrency licensing and how it will change over the next decade. ENISA warns that regulators must continually adapt their policies in order to keep up with the ever-changing landscape of the cryptocurrency industry. They predict that by 2030, most businesses related to crypto will be licensed and regulated.

This means that in order to stay compliant, businesses will need to continually update their licenses as regulations change. It can be a complex and time-consuming process, so it is important to start early if you are planning on getting a cryptocurrency license.

Benefits of being Crypto-Licensed:


There are several benefits of having a cryptocurrency license. The first is that it allows you to operate legally in the country or region where you are doing business. This can provide some assurance to customers that your business is legitimate and regulated.

Another benefit is that a cryptocurrency license can help protect you from legal issues and disputes. It can also help you establish credibility with customers and partners.


Finally, having a cryptocurrency license can provide access to important resources and support from the regulatory body. This can be helpful in times of need, such as during a cyber attack.


Overall, there are many benefits to having a cryptocurrency license. It can help you operate legally and safely, while also providing access to important resources and support.

General Procedures for obtaining a crypto-license:


There are several things you will need to do in order to get a cryptocurrency license. The first is to identify the regulatory body that oversees cryptocurrency licenses in your area. You will then need to familiarize yourself with their licensing requirements.

The process of obtaining a license can be complex and time-consuming, so it is important to start early if you are planning on getting a cryptocurrency license.


Luckily, SAXE experts are here to guide you through every step of the way, from Identification, to road-map planning, the actual licensing process itself, and all the regulatory applications.


Schedule a preliminary call with our advisors here


87 views0 comments

Comments


bottom of page