Australia DCE digital currency licensing

1. At present, the blockchain digital currency exchange has three kinds of licenses most applied for in the market: MSB license in the United States, MTR double license in Estonia and austrac license in Australia

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.

2.

Hello, I'm glad to answer this question

for example, the well-known Matcha lbank has applied for Australia austrac license

in April 2018, the Federal Parliament passed the anti money laundering and anti terrorism financing amendment bill 2018 (AML / CTF amendment), which amended Australia's anti money laundering and anti terrorism financing law. So the digital currency exchange, which will operate in Australia since then, will now be supervised by austrac, the Australian financial regulator, and will also be supervised by money laundering and terrorist financing activities. Australia's new law gives austrac the right to regulate the trading of various cryptocurrencies (including bitcoin, Ethereum, ripple, etc.) on digital currency exchanges

the Australian license is a powerful digital license, many of which are registered because of its strength. Moreover, the conventional infrastructure in the Australian financial sector is good, which constitutes the margin proct market

to apply for austrac license, you must own an Australian company to apply for registration

to apply for austrac license in Australia, the information required for applying for austrac license is as follows:

1. Basic information of Australian company, including company tax number

2. Detailed information of shareholders and directors of Australian company (scanned passport, address, etc.)

3. Address of Australian Office

4. Notarization of no criminal record of shareholders and directors of Australian companies

the application time is about 2 months

3. Australia is the leading core financial market in the world. To obtain Australian regulatory license can greatly enhance the strength of the platform and the confidence of customers. It is a standard license for digital currency trading institutions. In April 2018, the Federal Parliament passed the anti terrorism and anti terrorism financing Amendment Act 2018 (AML / CTF Amendment), which amended Australia's anti terrorism and anti terrorism financing act. So the digital currency exchange, which will operate in Australia since then, will now be supervised by austrac, the Australian financial regulator, and will also be supervised by Australia and terrorist financing activities. Australia's new law empowers austrac to regulate the trading of various cryptocurrencies (including? Special currency, Ethereum, ripple, etc.)&# 160;
if you want to apply for Australian austrac license, you need to register an Australian company first
to register an Australian company, you need to:
1 provide the name core name and three alternatives, with the name ending in Pty Ltd or Pty Limited&# 160;
2 registered address, telephone number, fax and email address Agent can provide) & 160
3 at least one director of the company, one of whom must be an Australian resident, shall provide personal data: date of birth, place of birth, current address, contact information including telephone number and e-mail (provided by the agent) &
4. The nature of the company's business and the direction of its operation
5 the company has at least one shareholder without nationality restriction, and the shareholders and directors can be the same person
6 information of the person in charge of the registration of the company (date of birth, place of birth, current address, telephone number and e-mail address) &
7 distribution of directors or shareholders of the company
the second step in licensing is to open an Australian bank account: & 160< br />1  Certificate of registration&# 160;
2Company tax No. & 160< br />3  Scanning of personal ID of local directors in Australia< br />4  Scanned copies of all shareholders' passports< br />5  Scanning of address proof of local directors in recent three months (Bill showing the address and name of customers) &< br />6  Electronic signatures of all directors and shareholders
to apply to austrac and ASIC in Australia, it is also necessary to do a crime free justice for directors and shareholders.
Australia has many advantages, such as the government's attitude towards development, fast qualification process, and a financial system matching Europe and the United States. Therefore, Australia has also become an ideal place for many investors to register. With perfect financial supervision means, it can be used as a preferred location for blockchain projects
the above is about Australian license application shared by Xiaobian. I hope it can help you

4. At present, it seems that we have never heard of failures, but some of them are successful, such as ant financial's implementation of blockchain technology in finance
the main reason is that there are few blockchains in banks and financial institutions
banks and financial institutions are also judging what kind of impact blockchain technology will have on the financial instry. Now most of them are mainly wait-and-see and testing, so even if they fail, it is an expected or acceptable trial failure.

5. With the digital asset trading more and more standardized, the relevant qualification application has become essential
license requirements will apply AML / CTF rules to enterprises trading digital currency (such as bitcoin exchange). More specifically, digital currency dealers will be required to:
1. Digital currency dealers in Australia must handle austrac and provide all business details. If the company providing digital currency transactions does not apply for austrac's license, it may result in two years' imprisonment, a fine of aud105000, or both
2. Establish and maintain AML / CTF programs to identify, mitigate and manage the money laundering and terrorist financing risks they may encounter
3. Identify and verify the customer's identity
4. Report suspicious activities and transactions involving legal currency, exceeding aud10000 or more (or equivalent) to austrac
5. Maintain special records on transactions, customer identification and AML / CTF projects for 7 years
the trading platform has complete qualifications, and natural users and investment talents can rest assured. Therefore, legal qualifications have become the focus of attention in terms of law, publicity and promotion. Even it is normal for the platform to apply for trading licenses in multiple countries. Let me briefly introce the application requirements and process of Australian licenses
to apply for Australian austrac license, you must own an Australian company to apply for registration<

to register an Australian company, the following conditions are required:
1. There are three names (in English) of the Australian company to be registered, two of which are optional, and the names end with Pty Ltd or Pty Limited
2. The registered address, telephone number, fax number and email address of the company in Australia. If the address is leased, the name of the lessee should be provided to confirm that the Lessee agrees to use the address as the registered address of the company
3. The business nature and business direction of the company in Australia
4. There should be at least one director of an Australian company, one of whom must be an Australian resident. Personal information should be provided: date of birth, place of birth, current address, contact information including telephone number and e-mail address. UCG priority note can provide clients with employment services of local directors in Australia
5. There should be at least one shareholder in an Australian company. There is no nationality restriction. The shareholders and directors can be the same person. Personal information: date of birth, place of birth, current address, contact information including telephone number and email address
6. Personal information of the director in charge of company registration (date of birth, place of birth, current address, contact information including telephone number and e-mail address)
7. Detailed distribution of shares of directors or shareholders of Australian companies. The default number of shares is 100, and the share price is set at a $1 per share
license application
1
2. Write the business plan and operation plan of digital currency dealers
3. Prepare and write application materials
4. Write anti money laundering regulations and anti terrorist organization financing regulations, as well as the daily operation plan of the regulations
5. Submit license applications to austrac and ASIC in Australia
in general, Australia's austrac digital currency license has the same cost performance as the US MSB, and is highly recognized in the currency circle.

6.

Austrac is Australia's financial regulator, responsible for the prevention and detection of line washing and fear of walking. Digital currency dealers in Australia must handle austrac and provide all business details. If the company providing digital currency loan transaction does not apply for austrac license, it may be sentenced to two years' imprisonment or aud105000 fine, or both. Australia has many advantages, such as the government's attitude towards development, fast operation process, and a financial system matching Europe and the United States. Therefore, Australia has become an ideal place for many investors to register, where financial regulatory means are perfect and can be used as the preferred location for blockchain projects

2. Materials required for registration of ABN GST:
1. The company's Australian company number ACN; 2
2. Tax file number of the person in charge and director of the company
3. Personal information of the director of the company's registered Director (date of birth, place of birth, current address, contact information including telephone number and e-mail address)
4. The business nature and business direction of the company in Australia
5. The registered address, telephone number, fax and email address of the company in Australia
6. Choose the way to declare GST: quarterly or annual

Australia is a leading core financial market in the world. Obtaining Australia's austrac regulatory license can greatly enhance the strength of the platform and the confidence of customers. It is a standard license for digital currency trading institutions. Australian license still has a high gold content, which can lay a foundation for the later exchange publicity< br />

7. The overall regulatory level in Australia is more open-minded in the regulation of the issuance and trading of digital currency. The investment market has a wide acceptance of ICO, and investors are enthusiastic. The income of digital currency exchange is considerable and prosperous. So far, the digital currency exchange has been formally incorporated into the jurisdiction of Australian law, and it must also comply with the same obligations of other financial institutions, such as banks, including performing a comprehensive reporting obligation to Australia's trade reporting and Analysis Center (i.e. anti Xi money institutions), formulating and providing effective information, It has a series of legal documents and control proceres for anti Xi money and anti terrorist financing based on risk control to obtain government approval and allow it to operate digital currency exchange

here is a brief introction to the current regulatory framework of digital currency in Australia from the perspectives of digital currency definition, digital currency issuance and exchange:

I On the legal definition of digital currency

Australia added the definition of digital currency in the anti Xi money and Anti Terrorism Financing Act amended in 2017: digital currency is the representative of value in digital form; A unit that can act as an intermediary of exchange, a store of value, or an account; Issued by institutions other than the government; It can be exchanged with legal currency and used as consideration for goods or services; It is available to the general public without any restrictions on its use; Or other transaction means, digital proceres or credit means as stipulated in the anti money / anti terrorist financing laws.; Or other means of transaction, digital proceres or credit as stipulated in anti money / anti terrorist financing laws< Secondly, the regulation of digital currency issuance in Australia is mainly to determine whether a certain type of digital currency is a financial proct. If it is a financial proct, it should be regulated according to the relevant provisions of financial procts. If it is not a financial proct, it should be regulated according to the relevant provisions of financial procts, It should be regulated in accordance with the relevant provisions on consumer protection (Australian consumer law) and general legal provisions

of course, no matter whether a certain type of digital currency is a financial proct or not, there should be no misleading or deceptive behaviors in the process of its issuance, including: using social media to expand public attention and interest in ICO; Engage in or arrange specific people to trade virtual currency or virtual assets with specific strategies, so as to generate larger trading volume on the surface; The issuance information is not fully disclosed; Or for the ICO that has not obtained the approval from the regulatory department, publicize that it has obtained the approval from the regulatory department< According to Australian law, if digital currency constitutes one of the following types of financial procts, the regulatory framework of financial procts is applicable:

1, investment management plan

2, stocks

3, derivatives

4, non cash payment facilities

3 Digital currency trading platform

(1) all trading platforms involving the exchange between legal currency and virtual currency should be registered with austrac and subject to supervision

according to austrac's guidelines, from the perspective of anti Xi money / anti-terrorism financing supervision, all trading platforms involving the exchange between legal currency and virtual currency should be subject to supervision, It includes:

1. Register with austrac

2. Adopt and maintain AML / CTF system

3. Report suspicious transactions and large transactions to austrac

4. Record and save user information, transaction information and the implementation of AML / CTF system

(2) all trading platforms of trading financial procts should obtain licenses

according to statistics, Although the number of licensed exchanges in Australia is relatively small, the quality is relatively high, and most of them are small and medium-sized, and the types of transactions are mainly spot transactions. Moreover, the current Australian exchange license is strictly regulated by ASIC and other departments. It can be seen that while Australia is striving to protect the financial order and investors' rights and interests, It will also give the development of digital currency a bright future, and the development of digital currency in Australia will be unstoppable.

8. Austrac license in Australia is a well-known compliance license in the currency circle. Now, most exchanges will apply for MSB license in the United States because of its low price. However, if there is only one U.S. license, it is not enough. Therefore, many exchanges will apply for other licenses in addition to the U.S. license. The Canadian MSB and Australian austrac license are the choices of most exchanges. Although the price is higher than that of the U.S. license plate, the gold content and customer recognition have also been greatly improved. The main question is "what is the existence of this Australian license in the currency circle?" the simple answer is "the Australian license belongs to the king license in the compliance license"

as for the application, first register an Australian company and then apply for a license. The company registration needs to provide the following information: 1. Provide the director's certificate (ID card or passport + address certificate) 2. Provide the director's certificate of no criminal record (local police station can provide it. During the epidemic period, you can apply for an electronic file online, and you don't have to go out to apply, which is similar in foreign countries). As for the license application, it needs special application. The information and qualifications provided by ordinary people are not enough.

9.

How to apply for austrac license in Australia? How about the gold content of austrac license plate in Australia

the Australian Federal Parliament passed the anti money laundering and anti terrorist financing Amendment Act 2018 (AML / CTF Amendment), which amended the Australian anti money laundering and anti terrorist financing act. AML / CTF Amendment:

& ᦇ 8226; Increase the powers and functions of the chief executive of austrac

• Include digital currency dealers in Australia's anti money laundering and anti-terrorism regulations and austrac's supervision

• Provide some regulatory relief for the instry from the current system

the AML / CTF amendment is expected to take effect on April 1, 2018

austrac is Australia's financial regulatory agency responsible for the prevention and detection of money laundering and terrorist financing. The federal government enhances the compliance of reporting entities with AML / CTF laws and regulations by expanding the powers and functions of the CEO of Australia Group

advantages of austrac license in Australia:

1) symbol of strength - Australia is a leading core financial market in the world. Obtaining Australian regulatory license can greatly enhance the strength of the platform and the confidence of customers

2) get authoritative approval - with the authoritative approval of Australian financial regulators, you can carry out relevant business in Australia and around the world, which represents the compliance supervision of digital currency platform

(3) standard configuration of digital currency trading institutions Australia is one of the fastest growing derivatives trading markets in the world, and the financial system matching with Europe and America makes austrac license the standard configuration of digital currency trading institutions

4) mature capital market - Australia's conventional infrastructure in the financial sector is well equipped, which constitutes the margin proct market. This is a fully mature and well regulated capital market

digital currency dealers in Australia must handle austrac and provide all business details. If the company providing digital currency transaction does not apply for such license, it may lead to two years' imprisonment or aud105000 fine, or even both

10.

Austrac in Australia has a high gold content in its digital currency license. Australia itself is one of the world's financial centers. In addition, the supervision and legislation on digital currency are very comprehensive. Therefore, if you can apply for an Australian asutrac license, your customers will very much agree with the exchange

in fact, the handling fee is not very expensive in the digital currency license. To be specific, it must be asked in person. In some small countries, the price of the license with no gold content is often very expensive

registration of an Australian company is required before applying for a licence. The material required in the whole process of license application is the proof of no criminal record of the ID card / passport applicant (the police station / local police station can apply, and the police station official website can also apply)