Philippine blockchain exchange 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
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
incorporation papers
Company registration documents
of business registration / permit
business license
notarized deed of guarantee and indemnity
proof of attendance (money laundering prevention Seminar)
SW ORN certification (MLPP)
affidavit (money laundering prevention program)
First of all, Canada's MSB license and the United States' MSB license are similar in terms of supervision. There is no special 6165 difference between them.
1: the United States' MSB license is regulated by FinCEN (financial crime enforcement agency under the U.S. Department of the Treasury) and belongs to the registration license system. It is necessary to apply for the permission to engage in the business related to money service. This is similar to adding one item to China's instrial and commercial registration: capital service business
in fact, for digital currency projects, the licenses of the two countries are very good choices. Another important point is that the two licenses are one of the few class a licenses that can be applied offshore, which saves a lot of later maintenance costs. At present, there are many projects and exchanges that hold licenses from both countries. After all, compliance operation must be indispensable in the future. If the budget is sufficient, it is not good to have two licenses at the same time, After all, the exchange didn't say that there was only one license. All the international ones came to one
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
John Clayton, chairman of the U.S. Securities and Exchange Commission, criticized ICOS that want to evade regulation, saying: "a lot of ICOS are concted under illegal circumstances. The sponsors and other participants of these ICOS have not complied with our securities laws. Some people say this is because the law is not perfect. But I don't think so at the moment. "
according to Clayton, up to now, no ICO has been registered with the sec. In 2017, all the ICOS raised about US $4 billion. "A lot of people think that ICO is a new thing and deny that ICO is a kind of security, but another way of financing," Clayton said. I don't think regulators have done a good job in this area. "<
Giancarlo of CFTC also thinks that virtual currency should be more strictly regulated. "I'm surprised by the enthusiasm of young people for virtual currency, and we should respect them."
the two presidents of the US regulatory agencies believe that decentralized blockchain technology has great potential, but whether it can bring benefits to the public is still unknown
although the relevant agencies have concted dialogues at the congressional hearings, it will take a long time to formulate specific policies.
for example, the cost of applying for MSB license in the United States, Canadian license and Australian license is relatively lower. Japan's FSA application takes the longest time and is not recommended
Estonia has one of the most competitive tax policies in the world. Estonian profits tax is not applicable. Bitcoin and altcoins are not subject to VAT
you can apply for; Two kinds of cryptocurrency license:
&8226; Official activity licenses for service providers to exchange virtual (encrypted) currency with fiat money, including services to encrypt the exchange of decrees, encrypt to commands, and encrypt to encrypt&# 160; When a
transaction such as commission service is provided, it becomes an exchange service. In addition, most of them are oriented to # 160; ICO's companies
will benefit from this legal compliance license&# 8226;&# 160; Virtual (encrypted) Money Wallet service provider
wallet is a digital offline (cold wallet) and online tool (hot wallet) based on public key encryption, which is used to send and receive cryptocurrency safely. Licenses cover services that create or retain private wallet keys, while funds belong to users
rather than service providers
both cryptocurrency licenses are issued by the financial intelligence unit (FIU) of Estonia and can be applied separately or together. It will take about 30 days
materials required for us MSB license 1. Basic information of US companies
1 company registration certificate
2 articles of association or equivalent documents
3 good reputation certificate (annual review document) of the company established for more than one year
4 company Ein tax code
2. Detailed personal data of shareholders and directors of US companies (scanned passport, personal telephone, address, etc.)
3. Brief introction of the exchange (which can be written by our company)
1. Services provided by the exchange
2. Current operation status of the exchange (if the exchange is currently in operation)
3. Customer groups of the exchange
4. Types of services, Refer to the list of MSB service types< Total transaction amount: list the total transaction amount of financial procts or services issued by MSB in each indivial month in the previous 12 months, which exceeds $100000
the registration process usually takes about four weeks
Canada and Australia are similar to the United States. I hope they can help you.