Licensing of cryptocurrency exchanges.

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plachpalach(32)

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2019-05-28 16:42

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https://steemit.com/bitcoin/@adabsolutions/licensing-of-cryptocurrency-exchanges

All existing cryptocurrency exchanges can be divided into two large groups.
The first group is the classic cryptocurrency exchanges that provide the opportunity to trade only cryptocurrency pairs.

The second group includes exchanges that support trading not only with cryptocurrency pairs, but also cryptocurrency trading with fiat funds (traditional currencies, for example, dollar, euro, yen). Also, it supports the entry and withdraw of traditional currencies.

Thus, exchange licenses can also be divided into two groups:
-traditional licenses that regulate financial transactions and which are indirectly covered by cryptocurrency transactions (for example, in the USA, Hong Kong).
-specialized crypto-licenses, which are specially introduced by the competent state authorities for the settlement of cryptocurrency exchange operations (for example, in Japan and Estonia).
Bahrain now deserves special attention, as the regulation of Fintech activities is being actively implemented there and research of cryptocurrencies and the possibility of their introduction into the economy at the state level are being conducted.

Regarding jurisdiction for obtaining licenses for conducting cryptocurrency exchange activities, the following countries are currently the most popular:
-Japan;
-Estonia;
-USA;
-Hong Kong;
-Singapore;
-Great Britain;
-Bahrain.