Company for crypto-currency business

One of the jurisdictions providing the opportunity to open a cryptocurrency company is Japan. For a long time, it was the Japanese stock exchanges, which remained the leaders in terms of the volume of daily trading operations. In addition to Japan, a cryptocurrency exchange can be opened in Hong Kong, Estonia and Singapore.

Features of the company registration process

The process of registering cryptocurrency companies has its own characteristics. Typically, large exchanges are subdivided into several organizations that differ in different functions. This is done in order to be able to diversify risks. After the company is registered, it is necessary to open an account or accounts intended for the needs of the company.

In addition, in order for the company to function fully, it is necessary to hire employees, prepare the relevant documents for the implementation of activities and technical tools for the software. In addition, before opening an exchange, you need to familiarize yourself with the provisions of the AML legislation.

In accordance with the legislation, in most cases, it is required to conduct risk analysis, maintain proper reporting and record suspicious transactions, and then immediately warn representatives of the competent authorities about the detection of such actions.

Crypto-friendly jurisdictions

Singapore is one of the crypto-friendly and accepting jurisdictions. The state does not levy capital gains tax if the activity is related to cryptocurrencies. Stability reigns in the political field of the country, and many retail outlets operate with cryptocurrencies. Alternatively, consider Australia. In Brisbane, you can find merchants that accept crypto money.

In addition to the above countries, Sweden is also friendly to cryptocurrency. This country is desperate for one of the world’s best welfare systems and a high standard of living. The jurisdiction officially allows digital payments.

Tax offices of Portugal have waived fees for trading operations with cryptocurrencies and organizing transactions. This implies that individuals do not have to pay capital gains tariffs, VAT, buying, or selling digital assets.

Countries for starting a crypto business

Among all jurisdictions, several countries are most suitable for doing cryptocurrency business. These states offer positive conditions in order to develop a cryptocurrency company and exchange currencies, as well as provide an opportunity to use cryptocurrency as a means of payment. The list of such countries includes the following:

• Japan;
• Denmark;
• Malta;
• Switzerland;

Switzerland is a jurisdiction that is attractive for doing business in general, in particular, business related to cryptocurrencies. This country has relatively low tax rates, including rates for transactions with cryptocurrencies.

Japan, as mentioned earlier, is very friendly to crypto coins. In 2017, this jurisdiction assigned the status of a means of payment to digital money, thus, transactions with cryptocurrencies have become quite common. The number of cryptocurrency traders in Japan is continuously increasing.

Denmark offers a high quality of life. In addition, in a decade, the government plans to completely eliminate cash and use only digital currency. A large number of monetary transactions are carried out by means of cards. The country sets the minimum regulation for digital money, and the rates for selling and buying cryptocurrencies are 0%.

ATMs are set in Estonia through which you can withdraw bitcoins. In addition, one of the world’s largest blockchain platforms operates there, and an international startup exchange operates there.

As for Malta, it is considered one of the most attractive places for placing online stores that accept payments on the blockchain. There are several cryptocurrency exchanges on the island. In addition, it should be noted that Malta became one of the first jurisdictions to regulate cryptocurrency.