If you are thinking about launching an ICO and start dealing with crypto assets, you should consider getting a license first. We would like to remind you that companies and individuals planning to engage into the exchange, transfer, sale, and storage of digital assets or cryptocurrency are required to obtain a license from the National Financial Regulator.
Regulation of cryptocurrency in different countries as a new economic phenomenon is constantly changing and adjusting. Every central bank is guided by its own approaches: from a formal resolution (including recommendations for the industry about possible risks, research in this area, etc.) or the application of general principles of regulation in the field of payments to a total ban on such activities.
The following pattern can be revealed: in countries with high GDP per capita, effective regulation of banking activities and high-quality public administration, favorable conditions have been created for efficient regulation of crypto activities. The ban on cryptocurrencies is more often introduced by countries with an unstable economic situation in order to simplify the control of fiat payment instruments.
However, it should be noted that the implementation of a complete ban on crypto activities within the global regulatory trend that advocates for the formal authorization of such activities under special licenses may lead to the drastic reduction of innovative projects and be the main reason for their relocation to a more transparent and friendly regulatory jurisdiction.
Contact IQ Decision UK to identify and scale business opportunities in crypto-asset areas. Our cross-capability team has long been helping clients throughout the world to adopt and pilot innovative technologies to spark breakthrough business transformations. IQ Decision UK lawyers will help you with crypto licensing procedures, portfolio review, wallet setup, scam warnings, professional insights, and tax information related to the crypto market in various jurisdictions.
Professional lawyers from IQ Decision UK with many years of practical experience offer full legal support to their clients in matters related to the setting up and registration of a crypto company or a crypto exchange and launching an ICO in various jurisdictions. Our specialists will provide you with innovative solutions that will help your company to embrace technological disruption and effectively reinvigorate your business for a long-term success.