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Crypto Exchange License in USA

Crypto Exchange License in USA

A crypto exchange license in USA is necessary to establish a cryptocurrency company in USA. There are a series of formalities in this direction, and one of our company formation agents USA can explain in detail what the whole process entails. In the following lines, you can read information about the crypto exchange license in USA, as well as about the Delaware blockchain.

When do you need a crypto exchange license in USA?

As we mentioned at the beginning of this article, a crypto exchange license in USA must be obtained when you decide to set up a cryptocurrency business in one of the American states. In this sense you need:

  • Acceptance to operate as a Money Services Business, from the Financial Crimes Enforcement Network, also known as FinCEN.
  • Money Transmitter License issued by the state agencies where the respective company will be registered.
  • It is important to state that ICOs (Initial Coin Offerings) are regulated by the Security and Exchange Commission or SEC.
  • Also, the crypto exchange license in USA is granted by the State and Federal governments. We recommend those interested in business talk to one of our local agents in order to obtain a crypto exchange license in USA.

Requirements to obtain a crypto exchange license in USA

We present below some of the formalities and procedures necessary to obtain a crypto exchange license in USA:

  • First of all, you need to register your company as Money Services Business with FinCEN.
  • It then moves on to the development and implementation of anti-money laundering compliance or AML.
  • It is also necessary to comply with countering financial of terrorism policy, also known as CFT.
  • A designated agent is required to obtain a crypto exchange license in USA, and he or she must comply with the guidelines for transferring funds.
  • In the case of New York state, you will need to obtain a BitLicense to be able to implement your company’s cryptocurrency exchange operations.
  • Next, the authorities will do some background verifications before issuing the crypto exchange license in USA.

There are certain states, such as Florida, which do not have direct guidance on the suitability of the Act on virtual currency issuers and users. Nevertheless, it indicates that persons who are engaged in buying and selling of cryptocurrencies or exchanging cryptocurrency for legal tender do not fall beyond the scope of interest that is subject to the state of Florida’s Money Transmitter Act. You can find out more about this by contacting one of our local agents who can also help you start a business in USA.

What is the state of Delaware blockchain?

Delaware blockchain involves clearing and setting virtual currency transactions with the help of specific platforms, in complete safety. Thus, assets can be transferred between users, without costs and without waiting time. Therefore, the Delaware Blockchain Initiative can create, reliable, real-time, and perceptible transfers between Delaware corporations, banks, and law firms in just a few seconds. You can discuss with our local agents about how to start a company in Delaware if this American state is on your business list.

Below are some statistical data about cryptocurrency in USA:

  • In 2022, around 21% of American citizens owned virtual currency.
  • Around 70% of cryptocurrency owners are men.
  • 57% of those who own cryptocurrency in USA are part of the Millennials generation, i.e. those born between 1981-1996.

Therefore, if you are interested in a crypto exchange license in USA or Delaware blockchain, we advise you to contact our team of company formation representatives in USA. We can provide you with all the details and take care of the formalities for opening a company in the USA.