Blockchain digital asset trading license
Zheng Xiaojun, chief economist of the world blockchain organization and President of the Caribbean blockchain Research Institute, introced the world blockchain organization at the tokensky blockchain conference in South Korea today. He mentioned that the Caribbean is the largest offshore area in the world, and a lot of international re export trade relies on the Caribbean for operation. However, 80% of the population in the region does not have bank accounts, and the financial infrastructure cannot be solved by traditional financial instruments. Therefore, the development and cooperation of blockchain in the world is very necessary
At the tokensky blockchain Conference on March 14-15, Zheng Xiaojun, director general of wbo, mentioned that the wbo licensing authority will issue three types of licenses: digital asset operation license (for ordinary digital asset companies), digital asset trading license (for digital currency exchanges, etc.) and ICO license (for ICO only projects, companies, etc.)
it is understood that the world blockchain organization is a non-governmental organization registered by the United Nations Economic and social affairs agency. Its purpose is to become a major international intergovernmental organization in the blockchain instry and provide another method and means to solve the financial problems between countries and regions by promoting the cooperation of the blockchain world
at present, wbo has more than 400 members and institutions, including nine offices including the licensing authority, to operate blockchain policy research, legislative promotion, standard formulation, evaluation and certification, conferences and exhibitions, training and ecation and other activities
the wbo with endorsement from international organizations will issue licenses related to digital cryptocurrency and blockchain, which may provide clearer guidance on supervision and practice at the national level, and bridge the cooperation between countries
as a financial technology leader, the United States discussed cryptocurrency, ICO and whether the existing regulatory framework is sufficient to protect investors at the recent congressional cryptocurrency regulatory hearing. Many of them agreed that the regulatory authorities should clarify the legal status of encrypted assets, and ensure that the relevant processes comply with the law while helping entrepreneurs to innovate
No matter what the result is, the measures taken by these important organizations and governments show that they will not sit back and watch the currency circle and chain circle go disorderly
it is worth noting that on March 11, the blockchain instry alliance of China Hi Tech Instrialization Research Association also announced that it has officially joined the ranks of wbo sponsors, and Zhu Tao, chairman of the alliance, is also the deputy director general of the world blockchain organization. With the issuance of internationally recognized licenses, will China's policies be relaxed
MSB license in the United States is a license with a wide range of supervision. It is aimed at engaging in money service business and companies in the United States, including digital currency, virtual currency transactions, ICO issuance, foreign exchange, foreign exchange and so on. Relevant business companies must apply for MSB license to operate in compliance. The license plate is characterized by high reputation, high gold content, independent recognition by investors and exchanges, and low cost compared with other digital currency licenses. Processing: provide a director information (ID card) + provide a company name (need to help you register an American company first)
Estonian MTR virtual currency trading license includes two licenses: virtual currency trading license service and wallet trading service license. Characteristics of the license: the first digital currency license issued by the state is very friendly to the blockchain, the relative policy bill and so on, and the reputation is very high. Although the cost is higher than that of the US MSB license, it is actually very low. Handling: the first way: provide a director's information (ID card) + provide a company name (need to help you register an Estonian company first) + director's no criminal record certificate (need to be notarized) + capital verification account 12000 Euro + local actual office and office staff. The second way: provide a company name, other all inclusive
digital currency traders in Australia need to apply for austrac. If the company providing digital currency transactions does not apply for such a license, it may lead to two years' imprisonment or a fine of aud105000. Australia austrac license features: its business scope can reflect the digital currency words, famous, high gold content, the cost is relatively low. Processing: provide a director's information (ID card) + provide a company name (need to help you register an Australian company first) + director's no criminal record certificate
in fact, the above three licenses are the three most popular digital currency licenses at present, and they all have one thing in common, with high reputation, high gold content and low cost, These three kinds of licenses are not only recognized by customers and investors, but also the three kinds of licenses that the trading platform competes to handle.
Digital currency financial license generally refers to the license to operate digital currency related business in a certain country or region. Having a digital currency finance license means that the institution can conct business and derivative services related to digital currency in the place where it is issued. Such as the establishment of digital currency exchange, payment, digital currency financial derivatives and so on
the issuers of digital currency trading license are generally the National Central Bank and financial regulatory agencies, of course, the participation of legal departments is also very important. There are also great differences in the license application standards of various countries. Some countries and regions even need to apply for relevant securities, banks and funds licenses at the same time
most of the information about the current operation status of the exchange (if the exchange is currently operating) is prepared by lawyers ·
US MSB license, with low registration cost and fast application time, is the lowest application fee among the current financial licenses
we can apply for the following licenses: US MSB license, Canadian MSB license, US NFA license, Estonian MTR, UK FCA, Maltese license, Mauritian license, Singapore foundation, Singapore MAS financial supervision, blockchain license, digital currency supervision license, UAE FSRA license, Cyprus cysec license, Belize IFSC license New Zealand FSP and FMA license, Australian ASIC license, Swiss FINMA license, Seychelles FSA license, Cayman CIMA license and other global overseas regulatory licenses
The use of digital currency license: 1. Packaging platform, good publicity 2. Developing OTC legal currency business of exchange currency trading and contract futures 3. Platform compliance, risk aversion
the commonly used licenses are: MSB of the United States, Estonia (al license digital currency trading license and wallet license), MSB of Canada, Australia, caymann, Singapore, Malaysia, Saint Vincent Philippines, etc
the license of each country should be applied by the local company, or the company can be registered before applying for the license. It can also register with the Singapore foundation, and lawyers can issue legal opinions on the project white paper
The following is the title of the main sorting out of the current project side and the exchange of things more license, for reference -
fifth place: Singapore MAS
influence: five stars
compliance: five stars
application difficulty: five stars
there is no doubt that Singapore MAS license is one of the most valuable licenses at present, but its application threshold is high and the licensing time is very long, which makes many exchanges flinch
Hello! I'm glad to answer your question
at present, there are few countries in the world that issue supervision licenses for digital currency asset transactions, such as austrac license in Australia, MTR digital currency transaction / wallet license in Estonia, token license in Thailand and jvcea virtual currency transaction license in Japan
among the digital currency trading licenses in the above countries, Japan and Thailand have too high qualification requirements, and few exchanges or indivials meet the qualification requirements
Australia austrac and Estonian MTR can basically meet the qualification requirements. However, after the amendment of Estonian act on March 10, 2020, and the promulgation of the act on qualification, capital verification and local actual office space, the application cycle will be extended accordingly
at present, only ausrac in Australia is the most suitable license for digital currency asset trading license. It does not need capital verification, certificate fee and local office address. The application cycle is short and the qualification requirements are low. It can basically meet the qualification requirements. It has high international reputation and is the most cost-effective license at present. It can be considered directly
At present, there are quite a lot of MSB licenses in the United States. The bigger ones are Huo coin, coin an, and the smaller domestic second and third tier exchanges are all licensed. At present, the licenses are also a trend in the future. They are all moving towards standardization, and there are more than 20 applications for licenses every month
for example: US MSB, Estonia, Australia
The Prime Minister of Lichtenstein believes that blockchain technology is promoting economic transformation, while Lichtenstein hopes to be at the forefront of blockchain development
as a result, the government has begun to draft "sensible" and comprehensive blockchain legislation to create a legal environment concive to innovation and regulation
{rrrrrrr}
when other countries steadily introced laws related to blockchain and cryptocurrency, Prime Minister Adrian Hasler of Lichtenstein told coindesk that the bill to be introced in Lichtenstein "goes far further than the blockchain legislation in other countries"
Hasler said: the purpose of this law is to regulate all activities that may appear on technical systems, such as distributed ledger and blockchain systems, so as to provide legal certainty. But the law covers much more than the issue of cryptocurrency and tokens. The law aims to provide the necessary legal framework for a wide range of new services and business models involving these technologies
Hasler pointed out that the bill, known as "blockchain act", will outline a prudent and loose regulatory framework
the prime minister explained: there is no need for us to make too many regulations without practical significance, because the blockchain economy will develop beyond the regulations, which will certainly not be in the interest of any country. Therefore, we hope to put forward a reasonable regulatory method through this law, that is, the role of the state in creating legal certainty and confidence, and at the same time, where necessary
the bill will be mainly informed by the financial market supervisory authority of Lichtenstein, which has so far handled 100 blockchains and password related inquiries<
"significant changes"
Hasler further pointed out that the government has reviewed the relevant legislation of other countries, and has held consultations with fintech companies, financial service providers and lawyers. The government's purpose is to make the bill "as relevant as possible to reality". At the same time, he hopes to make the bill public this summer
although the proposed legislation coincides with the boom of cryptocurrency, Hasler said that the interest in blockchain in Lichtenstein is not on the spur of the moment. The bill is based on the analysis of "opportunities and risks of blockchain economy" by a working group convened about 1.5 years ago
Hasler told coindesk: we soon understood how blockchain can significantly change all aspects of our economic life and financial services
similarly, Hasler attributed the implementation time of the blockchain act to the broader "national innovation"
he explained: for the government of Lichtenstein, it is very important that the state and the government itself have the ability to further develop. The blockchain act originated from this innovation process
this small European country with less than 40000 people has shown increasing interest in blockchain and cryptocurrency technology so far
in March this year, crown prince Alois Philipp Maria disclosed that the royal family is considering investing its $5 billion wealth in cryptocurrency, and suggested that blockchain can be used to improve the efficiency of the government
in addition, Frick, the Bank of Lichtenstein, announced in March this year that it now allows customers to invest directly in cryptocurrency. The bank's move stems from the demand for cryptocurrency by enterprises across Europe< br />