Procedure of obtaining crypto exchange licence
To obtain a license to exchange cryptocurrencies, it is necessary:
- to register a company with a «physical» office;
- open a bank account and deposit the authorised capital (100% is paid upon registration);
- to hire employees and directors with experience and education in finance;
- to develop a business plan for several years in advance, documentation of the software used for exchange transactions;
- develop aml/kyc policies, control rules and risk monitoring
Ideas and concepts
Designs & interfaces
Obtaining exchange license to manage crypto money
Obtaining a license gives the opportunity to provide services that are directly related to cryptocurrency or virtual values, in the case of acquiring a license providing the service of virtual wallet or for the exchange of virtual values for money. Valuables are presented digitally and can be sold, transferred and stored. Jur.face and physical. Individuals may dispose as a means of payment, but at the same time they are not the money of any country in the world. Virtual Wealth Wallet is a service where people create and store keys that are used to manage virtual value.
The basic requirement of legal entities:
- unblemished reputation
- customer identification and verification;
- maintaining customer records and data;
- appointment of a manager responsible for compliance with the requirement to prevent the legalization of proceeds of crime.
Cryptocurrency wallet service
Crypto currency wallets are digital offline and online methods that rely on public key cryptography to allow users to safely send and receive cryptocurrency over the network. There are two types of wallets: cold (offline - for example, hardware wallet, cryptocurrency paper wallet) and hot (online wallet) storage. The difference is that the first to store digital coins offline, without Internet access. Hot wallets are mainly used for storage of small volumes or everyday use. Among the wallets for hot storage are ordinary and multi-currency wallets for cryptocurrency.