Today, most modern businessmen have appreciated the considerable potential of crypto-currency. That is why they tend to integrate the crypto-currency in their own business as soon as possible. they may considerably benefit from it having fairly large income. However, take care when you deal with crypto-currencies. This is because they bring the profit only when a businessman throughly revises and knows the legal side of the issue.
The latest technologies will be profitable only if the entrepreneur gets the special permit that national authorities may issue. In absense of this permit, the business will never be legal. Without the crypto-currency license, the business shall not be profitable. It is worth noting that license is not as difficult to obtain as it may seem at the first glance.
Opportunities for entrepreneurs licensed to deal with crypto-currency
Anyone who gets the license may deal in exchange operations online. Such a license allows involvement in online payment transactions. Thus, a businessman can save his free time and this is another reason to apply for a license at least to save the time. Moreover, the cryptocurrency will be used in these payment and exchange transactions equally with fiat money.
Another advantage of the license is hard to overestimate: any licensed businessman will be able to legally market his goods and services for cryptocurrency.
Yet, the license is reuired for all kinds of intermediary functions, as well as to place tokens. It is important to note that only a few countries issue such licenses; thus, prior to start the procedure of licensing, find out whether it is possible in the country chosen.
The point is that most national authorities consider any activity related to crypto-currency, as the investment or financial activity. That is why they request to address the local financial regulator for the permit. The financial regulator has its own features from the state to state; thus, they require to be reviewed prior to visit the financial authority. The businessman may be required to submit certain documents.
The easiest way to get a license
Those who are intended to seriously deal with crypto-currency find the United States as the best jurisdiction. The crypto-currency is treated at the highest level of loyalty therein, and businessmen who operate crypto-currencies are exposed to extremely transparent conditions to work. It is not so easy to find another country as the US since most bitcoin ATMs are installed in there for this special purpose.
Moreover, the crypto-currency operations are regulated since 2013 in there. Even despite the fact that profits raised from the crypto-currency-related businesses are subject to special tax, the US is the best jurisdiction for those who do business related to the most advanced technologies.
Apart the United States, the UK may be highlighted, as well as territories that are under its protectorate.
In this case, crypto-currency is considered the private money. There is a range of countries that support the crypto-currency business. They include Canada, Estonia, Belize, Switzerland, the Republic of Korea, Holland, Denmark and others.
What to do to get a license
The first thing to note is the legislation that differs from the jurisdiction to jurisdiction.
For example, the specific form to file the paperwork may be required. A package of documents, in turn, should be accompanied with the description of risks associated with the use of certain financial instruments. The prepared package of documents should be submitted to the licensing authority. The licensing body personnel may be requested to submit the information of documents that need to be collected.
In addition, different jurisdictions set different requirements for the account. Some countries allow the use of the special brokerage account and bitcoin wallets.
It is worth noting the terms of the authorized capital formation, as well as its liquidity and volume.
Another requirement to note applies to the licensing procedure. If you fail to choose the most suitable jurisdiction, you are welcome to seek help in the special company with the staff that is eager to render assistance and offer the right solution for you.