The central goal of the MiCA Regulation is to create uniform rules for crypto assets and related services throughout the EU, which should help increase transparency, security, and reliability of financial transactions in this area. The regulation is focused on protecting investors and consumers, preventing money laundering and terrorist financing, and ensuring the stability and…

Hong Kong Virtual Asset Service Providers (VASPs) are businesses that offer services related to virtual assets, such as buying, selling, storing, and transferring cryptocurrencies or digital tokens. According to a survey by the Hong Kong Blockchain Association, the number of Hong Kong residents owning cryptocurrencies increased by 75% in 2020, with Bitcoin being the most…

The cryptocurrency market has received a lot of attention in recent years from free-market enthusiasts like us. What began as a few people’s dream has grown into a dependable, consistent, and profitable business. Estonia is usually regarded as the finest cryptocurrency licensing jurisdiction. And Imishore Consultants’ team of professionals can assist you in promptly obtaining…

The FinTech Law was published on March 9, 2018, and companies that carried out activities reserved to EPFIs and CFIs prior to the entry into force of such Law were required to file – no later than September 25, 2019 – with the National Banking and Securities Commission (“NBSC”) an application to organise and operate…

In this article, I will focus on where to start a cryptocurrency exchange in 2022. That is, where to incorporate a new cryptocurrency exchange. Which countries are friendly to startup cryptocurrency exchanges and why you should consider each based on your business model.Countries are not listed in any particular order. You should select your jurisdiction…

A joint statement by U.S. financial regulatory agencies on Tuesday recognized the importance of the crypto-asset sector and outlined a plan for agency fast-tracking of policy goals. Thirteen years after the creation of the first cryptocurrency, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and the Office of the Comptroller…

According to Reuters last month, “only a handful” of the 250 banks in Switzerland are able to provide deposit services to the estimated 530 blockchain startups based in Switzerland’s Crypto Valley. The issue at hand is that, while these businesses operate on cryptocurrencies, they still need traditional financial tools and use of fiat currency to…

This post will consider why card issuers and certain fintech businesses have compliance requirements and how those KYC and AML rules translate to transaction monitoring rules within the core system or compliance system. The focus of this post is on anti-money laundering and related transaction rules. Know Your Customer (KYC) and Anti-Money Laundering (AML) rules are…

Most startups focus on tech, testing, and finding customers in the early days. But, a complete compliance program should be the first thing a fintech, crypto, or credit card issuing business should build because this governs onboarding and nearly all aspects of the business. Also, your compliance program and documents are the keys to maintaining good…

The dynamic business landscape in Mexico is offering fertile ground for both FinTech and crypto businesses. Driven by a potent mix of regulatory evolution, market potential, and consumer demand, Mexico has emerged as one of Latin America’s hotspots for these disruptive technologies. Here’s a look at the vibrant business climate in Mexico for FinTech and…

In this post, I’ll look at setting up a Swiss Crypto Exchange or fintech business using a fintech license or as a Qualified Intermediary. It is also possible to operate as a full bank in this capacity, but this is beyond the scope of this article.  Introduction Operating a cryptocurrency exchange in Switzerland involves dealing…

The bottom line is that it’s legal to sell Bitcoin for cash in Canada so long as you watch out for cash buyers with illegal businesses looking to launder their drug proceeds (for example). We don’t want to get involved with any buyer that could be a target of law enforcement. Introduction:  There is no…

The Canadian financial services market is growing rapidly. This has a great effect on the economy of the state, and a lot of foreign businessmen want to open their companies there. In Canada, such instruments of consumer protection and finances are laid down, making them attractive to foreign investors. In this regard, the investors are…