Cryptocurrency Licenses from scratch: Alternatives to the EU

In light of the entry into force of the Regulation on the Markets of Crypto Assets (MiCA), many companies in the field of cryptocurrencies are looking for new business opportunities. Due to the increasing requirements within the EU, IT-OFFSHORE is ready to offer the best alternatives for obtaining cryptocurrency licenses. These jurisdictions can be the optimal solution for your business and provide the flexibility needed to successfully operate in the growing cryptocurrency sector.

Salvador: A pioneer in the world of cryptocurrencies

El Salvador became the first country to accept bitcoin as a legal tender. This makes the country an attractive destination for crypto businesses by providing favorable conditions and innovative regulatory approaches.

Types of licenses:

• Crypto Exchange;
• Custody Services;
• Payment Processing;
• Negotiate and trade derivatives;
• Token Issuance;
• Loans in crypto;
• NFT issuance & Trade;
• Asset management of crypto assets / Trade bots.

The duration of the license process depends on its type: obtaining a bitcoin license from 4 weeks; obtaining a DASP license within 6 months. We also provide services: registration of a company (LLC) from 5 working days; opening a bank account for about 4 weeks.

Anjouan: Affordable licenses for startups

Anjouan is an island nation offering simple and affordable licenses for crypto companies. This is a great opportunity for startups and existing businesses to expand their presence in the international arena.

Types of licenses:

• Investment Consultancy Services;
• Cryptocurrency trading;
• Crypto Currency Exchange Operator (utility token and security token);
• Crypto liquidity;
• Crypto storage CFD contract for difference.

The time frame for obtaining a license is from 4 to 6 weeks.

Canada: An Emerging Cryptocurrency Market

Canada offers a stable legal environment and clear rules for regulating cryptocurrencies. This country with an emerging cryptocurrency market provides access to a large number of investors.

Types of licenses:

• Foreign exchange dealing;
• Remitting or transmitting funds;
• Issuing or redeeming money order or similar negotiable instruments;
• Dealing in virtual currency.

The time frame for obtaining a license is approximately 3-4 months.

Georgia: A progressive approach to regulation

Georgia is becoming more and more active in the crypto asset market. It provides convenient business conditions and attractive tax rates.

Types of licenses:

•  Exchange between virtual assets and fiat currencies;
• Transfer of virtual assets;
• Administration of a trading platform for convertible virtual assets;
• Management of a portfolio of convertible virtual assets (excluding collective portfolio management);
• Lending of convertible virtual assets;
• CO and services related to ICO.

Processing time for obtaining a license: approximately 4 months.

Argentina: Growing Interest in Cryptocurrencies

Argentina is showing a growing interest in cryptocurrencies and offers flexible conditions for registration and doing business in this field.

Types of Licenses:

• Exchange between virtual assets and fiat currencies;
• Exchange between different forms of virtual assets;
• Transfer of virtual assets;
• Custody and administration of virtual assets;
• Participation in financial services related to the offering of virtual assets;
• Creation of stablecoins and asset-backed tokens.

Processing time for obtaining a license: 6 to 8 weeks.

Conclusion

Choosing the right jurisdiction for obtaining a cryptocurrency license can significantly impact the success of your business. The Argentine, Georgian, Canadian, and other markets are excellent alternatives for those seeking flexible and favorable conditions for doing business in the cryptocurrency sector.

Additionally, there is the option of acquiring an already established company with an acquired license. This can greatly reduce the time to launch your business and minimize bureaucratic hurdles, allowing you to focus on the development and growth of your company.

Contact the specialists at IT-OFFSHORE for further information on how to start your business in these jurisdictions and choose the optimal strategy for your startup. We will help you navigate the nuances and offer the best solutions for a successful market entry.