Virtual currency payment license
Here are some personal experiences in the exchange
(1) the coin search website has the advantages of low service charge, quick withdrawal and multiple currencies. It supports a variety of well-known virtual currency transactions and is convenient to purchase usdt. It has app and high security
(2) kucoin overseas version (coin win background) has smooth interface operation, and the speed of coin withdrawal is not bad, but most of them are junk ICO coins, many names have not been heard of, such as app
(3) China bitcoin overseas version EXX (slow coin withdrawal, kengdai) gambling platform, fixed-point blasting futures pop you up, there seems to be a problem with cash withdrawal, no app
(4) fire coin overseas version, Collude with OK, dozens of junk money a week, no bottom line, many small problems. Support C2C transactions, there are app
(5) okcoin overseas version, this does not say, OK life black, although support C2C transactions, but bottomless line shelf circle coins, flicker leeks, C2C transactions can not be withdrawn, embezzle the user's assets after the decimal point of tens of millions, careful into
(6) BTCC overseas version, support us dollar UnionPay direct charge, but the handling charge is high, it is relatively low-key in China, The experience of the transaction interface is very poor
(7) the overseas version of cloud coin has few currencies and many problems, so it's all warriors
(8) currency security is currently the largest exchange in China, with the most complete currency and many activities. It doesn't card you to withdraw and recharge money. Although there are so many junk money in ICO, it doesn't have as many problems as hot money OK platform. It can be said that it is the best exchange in China. It has app, needs to turn Q, and mobile client doesn't need to turn Q
(9) Yuanbao overseas version has Canadian financial license, legal operation, insufficient depth, small amount of currency, small transaction volume and insufficient UI beautification
(10) in the bitage, the overseas version takes a very long time to review, and it takes you a long time to pick up the coin and issue the coin. The miner's fee used to be a little higher, but now it's just a little higher. 0.5% for recharge, 1% for withdrawal, and the highest withdrawal fee in the whole universe. The garbage made by the K-line chart can't hold on to the ICO coin. At present, this platform can't stand the temptation of interests, and the card is only issued half a day, The trading volume is a little less. At present, I have abandoned this platform
(11) the overseas version of China's bitcoin has just been opened for trading, and C2C trading has a unique qash trading area. There are many small problems, so be careful to enter
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
the full name of MSB is money services business. American MSB license is a kind of financial license supervised and issued by FinCEN (financial crime enforcement agency of the U.S. Department of the Treasury). It mainly deals with businesses and companies related to money services, including digital currency, virtual currency transactions, ICO issuance, foreign exchange, international remittance and so on. Companies engaged in the above-mentioned related businesses in the United States must apply for MSB license to operate legally
for example, many large trading institutions, such as Huo B and OK, have applied for the US MSB license. Therefore, there is no doubt about its gold content and authority. For example, trading platforms like this are not only for compliance filing in a single country, but also for compliance filing in multiple countries under the premise of capital permission, which is very beneficial for the development of trading platforms. On the one hand, they can carry out their own business in multiple countries in compliance; on the other hand, they have compliance filing in multiple countries. For investors, It's easier to get trust
the role of MSB license in the United States:
1. American MSB license is famous, packaging platform and good publicity
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3. It can increase the trust of customers, enhance their visibility, and make the platform develop better and faster in compliance
advantages of MSB license
1. Investor recognition - Corporate Law and financial instry regulation in the United States are very perfect. With a U.S. license, your digital currency trading platform will be more recognized by global investors
2. Get authoritative approval - with the authoritative approval of the U.S. Treasury Department, you can carry out relevant business in the United States and around the world, which represents the compliance supervision of digital currency platform
3. Become a first-line platform -- MSB license is also a standard license for global digital currency trading institutions. Coinbase, bitfinex, poloiex, hotcoin.com, OK, coin security exchange and other platforms all hold this license to operate
4. Diversified services - MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services
why is the license so important for the trading platform? First of all, people in the traditional foreign exchange circle know that the foreign exchange platform has the importance of supervising the license. Even such a traditional mode will create a future trading platform. Therefore, the license plate is bound to become a trend of development
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. 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 application qualification. It has high international reputation and is the most cost-effective license at present. It can be considered directly
third party payment license (i.e. payment business license) is to strengthen the management of non-financial institutions engaged in payment business. According to the law of the people's Republic of China on the people's Bank of China and other laws and regulations, the people's Bank of China formulated the administrative measures for payment services of non-financial institutions, And the non-financial instry qualification certificate issued by the people's Bank of China
the laws and regulations that the third-party payment platform should abide by are mainly the law of the people's Republic of China on the people's Bank of China and the administrative measures for payment services of non-financial institutions formulated by the people's Bank of China
while the third party payment brings convenience to people, it also proces a huge amount of money precipitation. There are still legal gaps and inadaptability in many aspects of the huge amount of money precipitation. It is precisely because there are gaps and inadaptability that the operation of the third-party payment platform is not standardized. In recent years, the state has intensified efforts to regulate
1. On June 9, 2013, the people's Bank of China issued [2013] order No. 6, in order to standardize the management of Payment institutions' customer reserves, protect the legitimate rights and interests of the parties, promote the healthy and orderly development of the payment instry, and maintain financial and social stability, the people's Bank of China has formulated the measures for the deposit of Payment institutions' customer reserves, which are hereby promulgated and implemented
2. On November 12, 2014, we issued the notice on further clarifying the requirements related to the rectification of violations (hereinafter referred to as the "notice"), with the intention of standardizing the direct connection between banks and third-party payment, and requiring the business bypassing UnionPay to be graally transferred to UnionPay platform. The UnionPay to straighten out the third party payment and direct bank action, involving 30 UnionPay members, but does not involve online payment, and does not involve Alipay. p>
3. On the evening of July 31, 2015, the central bank issued the draft of the measures for the management of online payment business of non bank payment institutions (hereinafter referred to as the draft), which introced a series of new rules for online payment, including the limitation of online payment
4. From December 1, 2016, the central bank issued the notice on strengthening the management of payment and settlement and preventing new types of illegal crimes in telecommunication network, which was officially implemented According to the notice, since December 1, 2016, when banks open non counter transfer business for depositors, they should sign an agreement with depositors to stipulate the daily accumulative limit, number of transfers and annual accumulative limit of non counter channels to non bank accounts and payment accounts of the same name. If the limit and number of transfers are exceeded, they should go to the bank counter for handling
similar to the requirements for banks, since December 1, when opening payment accounts for units and indivials, Payment institutions should agree on the daily accumulative transfer limit and number between payment accounts and payment accounts, and between payment accounts and bank accounts. If the limit and number are exceeded, no transfer business can be concted
5. In January 2017, the people's Bank of China issued the notice on matters related to the implementation of centralized deposit and management of customer reserves of Payment institutions, which stipulates that payment institutions shall deposit customer reserves in a certain proportion to the special deposit account of designated institutions from April 17, 2017, and no interest shall be charged on the funds of this account
6. Since the central bank issued the notice on standardizing payment innovation business (No. 281 document) (hereinafter referred to as the notice) in December 2017, the relevant policies on rectifying third-party payment have formed a momentum of intensive release, and have been put into practice in the first half of 2018
7. On June 29, 2018, the people's Bank of China issued the notice on matters related to the centralized deposit of all provisions of Payment institutions' customers (YBF [2018] No. 114), requiring that the centralized deposit proportion of Payment institutions' customers' provisions should be graally increased from July 9, 2018 to achieve 100% centralized deposit by January 14, 2019
extended information:
third party payment risk
1. The risk of subject qualification and business scope, the business of third party payment is between network operation and financial services, and its legal status is not clear. Although most third-party payments try to establish their intermediary status of providing network collection and payment for users, from the actual business operation of all these third-party payments, payment intermediary services are essentially similar to settlement business. In addition, while providing the third-party guarantee for the buyer and the seller, the platform has accumulated a large amount of funds in transit, which is similar to the bank's function of absorbing deposits. According to the law of the people's Republic of China on commercial banks, it is the exclusive business of banks to absorb deposits, issue loans and handle settlement. The business of the third-party payment platform has broken through some existing franchise restrictions. How to position it is a problem we should ponder
In the process of payment, whether it is the third-party payment platform mode or the internal transaction mode, there is a kind of fund deposit behavior. When the absorbed funds reach a considerable scale, there are problems of fund security and payment risk(1) in the mode of third-party payment platform, the deposited funds in transit are often placed in the accounts opened by the third party in the bank. Generally, the funds of businesses will stay for two days to several weeks. The possible risks of this part of funds in transit are as follows: first, the continuous increase of funds in transit increases the credit risk index of the third-party payment platform itself. The third party payment platform provides guarantee for both sides of online transactions, so who will provide guarantee for the third party? Second, there is a large amount of money precipitation in the third-party payment platform. If there is no effective liquidity management, it may cause payment risk
(2) in the internal transaction mode, it involves the issue and use of virtual currency. At present, virtual currency has not been included in the scope of supervision of the central bank, and it is separated from the banking system, so it is difficult to track the flow of funds within the platform. What kind of impact it will have on the real society is not clear. But at present, the issue of virtual currency is completely out of control. When more and more people recognize and use virtual currency, it will be a huge disaster if there are problems in the connection between virtual currency and real currency. No one is willing to pay for this risk and can't afford it
3. The anti money laundering risk brought by the anti money laundering law, the central bank said in the anti money laundering report that the proportion of online banking in banking business has increased rapidly, and most transactions are carried out through telephone and computer network, and banks rarely meet customers, which has brought great difficulty for banks to understand customers, and has also become a prone and high-risk area of money laundering