The fintech sphere is quickly enlarging, and for those venturing into payment facilities, apprehending the legislative scheme for a Small Payment Institution (SPI) is crucial. This guide delves into the key aspects of SPIs, covering regulations, jurisdictional specifics, demands, advantages, and more. What Governs SPIs? The legislation of SPIs in the European Union falls under…
In the promptly transforming sphere of monetary facilities, Small Payment Institutions (SPI) play a progressively vital part, notably in Poland. As of January 17, 2025, small payment institutions functioning within the EU will be required to cope with the Digital Operational Resilience Act (DORA), which mandates a simplified ICT risk monitoring scheme. This is part…
In the world of virtual assets, the legislative sphere can often be complicated and ever-changing. For crypto financiers looking to expand their functions, apprehending local legislations is paramount. This region, with its strong monetary sector and business-friendly environment, has become a promising place for tokenized ventures, suggesting a strategic hub for commercials searching for a…
With the expanding popularity of e-cryptocurrencies, this direction has become one of the prime locations for establishing fund vehicles. Digital holdings are maturing into a crucial part of both conventional and specialised portfolios. In 2021, one-third of conventional fund vehicles ventured in digital holdings, and two-thirds planned to amplify their ventures in 2022. Notably, this…
An established and fully operational group specializing in the forex brokerage industry is now available for acquisition. This group includes multiple entities with financial licenses, a comprehensive online presence, and a complete infrastructure supporting marketing, sales, and customer service. The structure offers investors a turnkey solution with an extensive global reach. Key Details of Forex…
The Ready-Made company with AISP License holds an EU AISP (Account Information Service Provider) license issued by the Danish Financial Supervisory Authority, enabling it to provide account information services across the EU. EU Passporting: The license allows for passporting to all EU member states, providing extensive opportunities for expansion across Europe. Bank Account: The Company…
Overview EMI License in Georgia This company, licensed by the National Bank of Georgia since 2015, is a well-established provider in Georgia’s financial services market, known for a broad range of innovative payment solutions and extensive reach across the country. Key Services E-Money Issuing: Reliable electronic money issuance services. Multi-Currency E-Wallet & Account: Efficient fund…
Key Details of this Lithuanian VASP: Licensed VASP: Established in 2021 with full authorization from FNTT. Banking Setup: Active PSP account with a Lithuanian EMI for smooth operations, and a local bank account for tax and salary payments. Financial Stability: No loans or debts, in good standing, compliant with AML/KYC regulations. Legal and Operational Support:…
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Recently, there has been a tendency to transfer business to the Internet. It is a convenient and simple path for all parties: a business owner can expand the client base and work with those who live on the other side of the world. The buyer can order an exclusive product or service. He will receive physical goods by mail, and some services are provided right there on the Internet. So, the payment for such goods and services is also made online.
What should you do if your customer lives in another country and use another cryptocurrency license?
The answer is to create an account in the exchanger. These services provide a package of benefits for their users:
It is quite easy to choose an exchanger. There is a great number of websites that monitor the activity and rate of the exchangers in real time. It is worth noting that you will not meet a frankly fraudulent website. All exchangers care about their reputation, as they get a good profit from business users.
If you need to exchange a cryptocurrency, you should find a specialized online exchanger. Now there are a lot of them on the Internet, and there are also separate ratings for cryptocurrency exchangers.
The mechanism of their use is very simple, it resembles a regular exchanger. First of all, you need to create a wallet and send your funds to it. Then you choose a function “exchange”. You can exchange a cryptocurrency for another cryptocurrency or the real money. The system will check if you have enough funds and the exchange will be made do automatically.
The exchange mechanism on the website differs from the same process on the stock market. It has its advantages, for example, the speed or automation of the process. Among the shortcomings of online exchangers are constant currency jumps. The course in the stock market depends on the behavior of many players. On the website the course is established by the owner of the exchanger.
Europe actively meets halfway the cryptocurrency market. The European Union countries revise their laws and introduce flexible standards for market participants. Estonia is particularly worth noting. Over the past few years, all the processes here have become automated. You can not only exchange currencies on the Internet, but also register your business or get advice from the government online.
If you plan to provide services in cryptocurrency exchange, you need to obtain a license. The cost is rather low in Estonia – it starts from 6 000 EUR. The duration of licensing is about 1.5 months.
Please, contact our specialists in case you have any questions. Our team consists of experienced lawyers and analytics which will help you to choose a jurisdiction and obtain a license for exchange. We will support you during each step of your business founding and running.
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The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.