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Tobique gaming license

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In today’s world, where online gamble sphere is becoming more and more important, it is important to understand that the legality and security of your business directly depend on the license. One of these licenses is the gambling permit issued in Tobique – Malecete First Nation in New Brunswick, Canada. It’s a unique area bordering…

Opening a payment system account in the USA

September 3, 2024

The USA remains in list of largest and most influential fin-centers worldwide. Getting US EMI-accounts gives organizations possibilities with access to the global fin-market and innovative payment mechanisms. With active progress of the fin-industry, the USA became an appealing jurisdiction for organizations seeking to manage their fin-operations more efficiently and securely. Opening a payment system…

Opening a payment system account in Canada

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Canada is in list of most-developed countries in terms of fin-technologies and innovatory payment mechanisms. With its sustained economic environment and strict regulative basis, Canada attracts organizations wanting to get accounts in payment systems. Canadian authorities are actively supporting the progress and wide involvement of fin-technologies; it creates a benevolent basis for business-activities in niche…

Opening a payment system account in the UK

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UK stands as a prominent globally-known financial hub, renowned for its exquisite banking-related and financial environments. In recent years, the UK has become a prime destination for firms aiming to set up accounts in payment systems, particularly within EMIs. UK’s regulative climate is extremely supportive of Fin-technologies, pushing it to be an ideal choice for…

SWITZERLAND CRYPTOCURRENCY LICENSING

As well as around the world, registration of crypto exchanges is related to companies providing financial services. The cryptocurrency exchange will be supervised by the Swiss financial market surveillance service – FINMA, one of the largest regulators in Switzerland.

As a rule, crypto-exchanges can get approval for the implementation of such activities or a banking license. Institutions involved in financial intermediation and having the appropriate status, FINMA permission is not necessary, but they have the opportunity to become a member of a self-regulatory organization.

FEATURES OF A BANKING LICENSE

Obtaining a banking license is supposed to companies or crypto-exchanges, openly offering their services and aimed at receiving financial resources in the form of investments. However, the list of conditions for different institutions may vary.

It is legally established that the amount of the authorized capital cannot fall below 1 million francs, and cryptocurrency licensing takes about 6 months.

The most common requirements are:

Assets are paid out to personal client accounts of institutions;

the main activity of a financial institution is aimed at trading in securities;

the number of depositors is not less than 20, the amount of deposits from 1 million monetary units of Switzerland.

LICENSING FINTECH INSTITUTIONS IN SWITZERLAND

For participants with deposit sizes of less than 1 million francs, from August 2017 in Switzerland it is allowed to carry out actions related to cryptocurrency without an established license, provided that the period of validity of such deposits will be at least 60 calendar days.

This is one of the many weaknesses in ICO regulation. Moreover, active discussions are taking place on the topic of granting FinTech companies permission to accept investments not exceeding 100 million francs.

In the current period, the investment of such deposits and the payment of interest on them is possible only in the case of industrial commercial activities.

Our company provides consultations in the field of obtaining international licenses, tax planning features, corporate law and finance, and also provides comprehensive support services for business related activities in many countries.

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Tobique gaming license

Opening a payment system account in the USA

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Opening a payment system account in the UK

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ICO regulation in Switzerland

SWITZERLAND CRYPTOCURRENCY LICENSING

FEATURES OF A BANKING LICENSE

LICENSING FINTECH INSTITUTIONS IN SWITZERLAND

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