When it comes to attaining a cryptocurrency exchange license, we need to understand what a cryptocurrency is all about. A cryptocurrency is basically digital money or virtual currency, and because of today’s cryptocurrency is being backed by a strong infrastructure and thus gained recognition, it has become something very unlike the virtual currency in the virtual gaming world in the past. Nowadays, the use of cryptocurrencies has widened greatly, people use them for remittances, some residents in other countries who have a volatile exchange rate keep cryptocurrencies to protect the value of their cash and assets, it is becoming more widely used for the purpose in purchases of goods and services, and no longer limited to the virtual space of online games. Ever since cryptocurrencies hit the main stream, there are many new cryptocurrencies are created each year, they mostly labeled as Altcoins (Alternative Coins)
Cryptocurrency exchanges are commonly seen and setup in the following jurisdictions，Estonia, Canada, Australia, Cayman, Singapore. Estonia offers two unique licenses when it comes to crypto currency trading; they have one that is an exchange license, and the other being a multi-wallet license. So one can have an idea, how practical this license is. Estonia is one of the first few countries to have launched start an ICO (Initial Coin Offering); On December 8th 2017, Estonia officially started issuing cryptocurrency licenses, and Estonia’s Financial Supervisory Authority said, the license would be classified as a safeguard at the same time to promote growth in Fintech innovations in Estonia.
If you are considering Estonia, or deciding which jurisdiction is suitable for your cryptocurrency related business, feel free to drop me a message.