Knowledge

Current requirements (prior to MiCA implementation) Companies intending to operate in the provision of virtual asset trading services are required to register with FI as a legal person who intends to engage in currency exchange to a significant extent or other financial activities according to the Act (1996:1006) on currency exchange and other financial activities….

If you plan to start a business in Europe, Finland is an excellent choice for registering your company.  The Manimama team has conducted in-depth research, analyzed the main subtleties of incorporating in Finland, and is ready to share its results and help you choose the right jurisdiction.  What are the main advantages of incorporating a…

Current requirements (prior to MiCA implementation) Article 30-1 of the Law no. 129/2019 “To prevent and combat money laundering and terrorism financing, as well as to amend and supplement some legislative act” describes a framework for authorization procedure of VASPs, however, the official register is not established yet. Also, Romanian government have not established complete…

Our employees’ thoughts and impressions Every employee is a unique part of a mechanism where everyone interacts as a unified whole. It is this seamless collaboration that allows the company to grow and thrive. As we approach the company’s birthday, we conducted a survey among our new employees—junior lawyers who joined us for an internship…

If you plan to start a business in Europe, Estonia is an excellent choice for registering your company.  The Manimama team has conducted in-depth research, analyzed the main subtleties of incorporating in Estonia, and is ready to share its results and help you choose the right jurisdiction.  What are the main advantages of incorporating a…

Current requirements (prior to MiCA implementation) In order to legally provide cryptocurrency services in Poland, it is necessary to: 1) Set up a local LLC (the address can be virtual). 2) Have a Polish phone number, a verified ePUAP profile for the contact person. 3) Have AML documentation. 3) Submit an application for crypto authorization…

We have started a series of posts and articles to help you better understand who we are and what we do. Today, we will tell you in detail about the Sales Department, its team and purpose to emphasize why MANIMAMA can be your key partner in achieving success. About our Department The Sales Department is…

Current requirements (prior to MiCA implementation) In order to obtain a license and work in the Czech Republic as a VASP, a number of mandatory requirements must be met: – registration as a legal entity, opening a physical office and authorized capital (minimum 1 Czech crown for limited liability companies (S.R.O.)); – documentation must be…

The History of Our Fund In 2022 we created the charity fund “I support Ukraine” and started to help Ukraine to win the war, supporting the army, people, Ukrainian scientists and talents. Our co-founders, CEO Ganna Voevodina and CBDO Vasyl Ponomarov, both Mariupol residents and patriots of Ukraine, organized volunteers to help all the city’s…

If you plan to start a business in Europe, Denmark is an excellent choice for registering your company.  The Manimama team has conducted in-depth research, analyzed the main subtleties of incorporating in Denmark, and is ready to share its results and help you choose the right jurisdiction.  What are the main advantages of incorporating a…

Current requirements (prior to MiCA implementation) In order to legally provide VASP services in Italy, it is necessary to be registered in a special crypto-registry maintained by the OAM. In order to enter the registry it is necessary (for legal entities, in accordance with the Decree of 13 January 2022, art. 3): 1. have a…

If you plan to start a business in Europe, the Czech Republic is an excellent choice for registering your company.  The Manimama team has conducted in-depth research, analyzed the main subtleties of incorporating in the Czech Republic, and is ready to share its results and help you choose the right jurisdiction. What are the main…

Current requirements (prior to MiCA implementation) In order to obtain a crypto licence in Portugal, a crypto service provider must meet the following requirements: 1) Present their business plan 2) Provide proof of a newly established company 3) Provide a certificate of no criminal record 4) Appoint a resident director 5) Provide proof of registration…

What was the reason to set up a law firm? First, it should be noted that Manimama has two co-founders who are professionals in their field – CEO Anna Voevodina and CBDO Vasyl Ponomarov. Ganna Voievodina has several honors degrees in law and linguistics. In addition, Ganna is the author of the draft Law of…

About the HR and Process Management Department The HR and Process Management Department is at the heart of our company, where well-coordinated teamwork and optimization of internal processes are key to efficiency. It is responsible for creating an environment where every employee feels valued and strives to achieve new heights. This part of the company…

Current requirements (prior to MiCA implementation) To open a crypto license in Spain, the following requirements must be met: 1) Register with the SCB (Spanish Central Bank Registry); 2) Register SL (Sociedad Limitada) – a legal entity, the Spanish equivalent of LLC (Limited Liability Company); 3) Apply for a crypto license in Spain; 4) Purchase…

Have you ever wondered how continuous learning and improvement affect business strategies? In Ganna’s case, her academic background has become an important foundation for setting new quality standards in legal services and for the successful operation of Manimama. About our CEO’s education Ganna Voievodina is not only a leader in the field of law but…

Current requirements (prior to MiCA implementation) No persons established in Luxembourg or providing services in Luxembourg may not provide virtual asset services without registering with La Commission de Surveillance du Secteur Financier (“CSSF”), as provided for in Article 7-1(1) of the Law of November 12, 2004 on the fight against money laundering and the financing…

We are starting a series of posts and articles to help you better understand who we are and what we do. Today we will tell you about the Department of Linear Incorporation & Payment Services, its team, services, and purpose. Let’s see together how our approach can be your key to success. About the Department…

Current requirements (prior to MiCA implementation) The DASP must notably comply with the following conditions: 1) either have professional indemnity insurance or a minimum amount of own funds; 2) at least have one executive manager; 3) have sufficient human and technical resources; 4) have resilient IT systems; 5) have an internal control system; 6) have…

If you are planning to set up a successful business in Europe, you should consider registering a company in Cyprus. The island offers a promising geographical location at the crossroads of major trade routes, providing convenient access to the markets of Europe, the Middle East, Asia, and Africa. The country has a highly developed infrastructure,…

Current requirements (prior to MiCA implementation) Virtual currency service providers with headquarters or branches in the Republic of Slovenia must register in the Register of Virtual Currency Service Providers, which is maintained and managed by the Office for the Prevention of Money Laundering, before starting to provide virtual currency services. The request for entry in…

If you are thinking of setting up a successful business in Europe, we recommend considering company registration in Croatia. The country offers a promising location at the crossroads of several trade routes, a highly developed infrastructure, a favorable tax system, educated and skilled workers. The Manimama team has conducted in-depth research, analyzed the main subtleties…

Current requirements (prior to MiCA implementation) To legally provide cryptocurrency services in Slovakia you need to: 1. Establish a local company (e.g. LLC with a minimum share capital of 5,000 euros). 2. Have a local registered address (can be physical or virtual). 3. At least one shareholder or director must be Slovak or a person…

About the AML/CTF Services Department  MANIMAMA is pleased to introduce to our audience an important part of our team that helps our clients monitor and minimize financial risks – the AML/CTF Services Department. In the early stages of our company’s activity, almost all employees were involved in this area. However, with the development and expansion…

Current requirements (prior to MiCA implementation) To register, the Company must file the following information with DNB: 1) General company information, including articles of association (in Dutch) and KVK extract. 2) Foreign companies must include a certified copy of the notarial deed that contains the company’s articles of association. Also provide an extract from the…

If you are thinking of setting up a successful business abroad, but want to get started as quickly as possible and without unnecessary bureaucracy, we recommend that you consider registering a company in the UK. The country is attractive for its stable legal system, developed financial sector, ease and speed of registration, and convenient tax…

Current requirements (prior to MiCA implementation) In order to legally provide their services in Ireland, companies need to be authorised on the Central Bank of Ireland’s crypto registry. This requires: 1. Establish a local company. 2. Have a registered local office. 3. One of the senior employees must be physically located in Ireland and act…

About the Business Development Department MANIMAMA is pleased to introduce our audience to the important part of our team that helps to increase the visibility of our company – the Business Development Department. The history of it began in the first months of 2024 when a new, ambitious initiative was created to increase the company’s…

Current requirements (prior to MiCA implementation) VASPs are only required to comply with the minimum AML-related requirements if they are based in Hungary or serve customers in Hungary. To fulfill its AML obligations, a VASP must: Has the jurisdiction enacted a law/draft law implementing MiCA? Who is the regulator under the law/draft law implementing MiCA?…

Company registration is the process of formalizing the status of a legal entity in accordance with the laws of a certain country. During this process, the company is officially recognized as a legal entity with its own legal capacity. To receive this status, it is necessary to provide certain documentation and fulfill the requirements established…

Current requirements (prior to MiCA implementation) In Latvia, there is no special regulatory framework for organizing business in the field of crypto-assets. In addition, there is no requirement or prohibition to obtain a crypto license. VASPs are LPMLTPF subjects, which means they have: – register in SRS as an LPMLTPF subject, including appointing a responsible…

If you are thinking about setting up a successful business in Europe, but want to start as soon as possible and with a minimum authorized capital, we recommend you consider registering a company in Bulgaria. The country is attractive for its moderate operating costs, ease of registration and administration, and comfortable tax system. The Manimama…

Current requirements (prior to MiCA implementation) 1. To start operating as a VASP in Lithuania, a legal entity must be established.  2. The activities of virtual currency exchange operators and/or virtual currency wallet depositories are not licensed in Lithuania, but there are mandatory requirements stipulated in Article 25 of the Law. 3. In order to…

About Corporate Structuring and Tokenization Department MANIMAMA is pleased to introduce our audience to the department that brings non-standard requests to life – Corporate Structuring and Tokenization Department. The history of this department stems from surprisingly natural and logical processes. Previously, corporate structuring and tokenization issues were distributed across the entire company’s team, but the…

If you are thinking about setting up a successful business in Europe, we recommend that you consider a powerful country like Belgium. The country boasts a stable political and economic system over a long historical period, a respectable international status, a favorable business environment, and a comfortable tax system. The Manimama team has conducted in-depth…

Current requirements (prior to MiCA implementation) To get authorisation from BaFin you need to: 1. Establish a local LLC with authorised capital of 150,000 euros. 2. Have a competent and reliable director 3. Appoint a competent and reliable AML officer and deputy AML officer 4. Have a local physical office 5. At least one director…

If you are planning to develop your business in an advanced Western European country, you should consider setting up a company in Austria. A country with a stable and powerful economic and political system, a high standard of living, and a comfortable taxation system is worthy of attention not only from big business representatives but…

Current requirements (prior to MiCA implementation) The FIN-FSA shall register the notifier as a VCP if (6 § of the LVT): 1) the applicant is entitled to carry on business in Finland; 2) the notifier is not bankrupt and, if he is a natural person, he is of full age, has no restrictions on his…

About our company We are pleased to introduce you to Manimama Law Firm – your reliable partner in the world of innovation, information technology, and high risks. We help our clients find solutions to the most complex challenges and implement their ambitious projects.  We have started a series of posts and articles to help you…

Current requirements (prior to MiCA implementation) Requirements for issuing an authorisation to a Estonian VASP: 1) Private limited liability company (OÜ).  2) At least 1 shareholder (natural person or corporate entity; no restrictions to citizenship or residence) and at least 1 management board member (can be the same as the shareholder, but only a natural…

Current requirements (prior to MiCA implementation) Virtual asset service providers intending to conduct their activities from the territory of Croatia are required to obtain authorization from the Hrvatskoj agenciji za nadzor financijskih usluga (“Hanfa”).  In order to legally provide virtual asset services to a local company in Croatia, you must: 1) Register a local legal…

Our list of exchanges available for client trading has significantly expanded. Previously, most clients traded on Binance, but not everyone trusts this platform. Now, we also offer trading on OKEx. Additionally, we have improved connections with WhiteBIT and Kuna. Connections with these exchanges are now established not only through REST API but also via WebSockets….

Current requirements (prior to MiCA implementation) Virtual asset service providers intending to operate from Austria are required to obtain authorization from the Financial Market Authority (“FMA“). Confirmation of the authorisation is the company’s entry in the relevant register of companies offering virtual asset services and the provision of a certificate. Confirmation of obtaining authorization is…

One of the young but most promising and popular is the International Free Zone Authority (IFZA). Originally established in the Emirate of Fujairah and relocated to Dubai in October 2020, it offers unique opportunities for entrepreneurs and startups to expand their businesses, as well as competitive pricing, a wide range of activities and state-of-the-art infrastructure….

Why Bulgaria? We, at Manimama OU, believe in the following benefits of VASP registration in Bulgaria: 1. Bulgaria has low taxes. The corporate tax in Bulgaria is one of the lowest in the EU at 10%, the personal tax is also 10%, while the dividend tax is 5%. 2. It is easy to obtain VASP…

Why Poland? Having significant experience working with the Polish market we, at Manimama OU, believe in the following advantages of VASP registration in Poland: 1. It is easy to obtain VASP authorization and comply with VASP obligations. The procedure for obtaining VASP authorization is much simpler than in other European countries, and the Regulator has…

Currently, the Anti-Money Laundering and Countering the Financing of Terrorism (“AML/CTF”) rules are in force to prevent money laundering, terrorist financing, circumvention of international sanctions and fraud, but the new regime will further promote transparency, financial markets stability and protect consumers against the speculatory nature of the crypto-assets market. Therefore, the country is taking active…

As Binance CEO Changpeng Zhao mentioned in one of his AMA sessions, the key parameter for listing tokens is the community’s interest and engagement—such as the number of social media followers. While code audits and the token’s prospects are important, they take a back seat without an active audience. Following the release of ChatGPT and…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Unlike AML regulations in many other countries, Switzerland does not use the concept of Virtual Asset Service Providers (VASPs). Instead, crypto companies are considered regulated if they fall under one of the categories of financial intermediaries, as listed in the law…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to section 1 of the Act (1996:1006) on currency exchange and other financial activities, other financial activities are defined as professional activity consisting in the management of or trading in virtual currency. Who is the VASP regulator? What is the…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Who is the VASP regulator? What is the procedure for registering a VASP for a local company? To obtain a crypto license in Spain, the following requirements must be met: Is there any specific authorization required for a VASP from another…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to the section 1.2.(48) of the Law on Prevention of Money Laundering and Financing of Terrorism (ZPPDFT-2), virtual currency services are the following services that a natural or legal person performs as a business or professional activity for a third…

When discussing exchange liquidity, the main evaluation criterion is the spread of trading tokens. The spread is the difference between the highest price buyers are willing to pay for an asset and the lowest price sellers are willing to accept. The spread size indicates user interest in the asset. However, in highly volatile markets, the…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to Article 5 of the Anti-Money Laundering Law, VASPs are classified as follows: However, this act does not define the activities carried out by these categories of VASPs. Who is the VASP regulator? What is the procedure for registering a…

Dear Friends! We at Manimama Legal and Growth Agency decided to prepare a full analysis and description of the Anti-Money Laundering Law (AML) of Lithuania as the main jurisdiction where our clients register VASP companies. We enclose the document in Ukrainian so that our Ukrainian-speaking clients can fully understand what is given in the basic…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to Clause 2(t) of Article 2 and Clause 1(g) of Article 5 of the AML Law, as well as the Amendment Ordinance, the types of VASP activities are as follows: Who is the VASP regulator? What is the procedure for…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? The following activities or transactions involving virtual assets in Portuguese territory are subject to prior registration with the Bank of Portugal, including when the applicant is engaged in another profession or activity, provided by Law No 83/2017 of 18 August 2017:…

Specifically, we’ll discuss two types: The key difference between these approaches lies in the fact that in the DCA format, the entire investment amount is accumulated for a single take-profit order that triggers for the entire position simultaneously. Thus, in the case of a trending market movement and significant changes, the DCA strategy proves advantageous…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Under the AML Act, VASPs may provide the following services (Article 2, Section 1, paragraph 12): Who is the VASP regulator? What is the procedure for registering a VASP for a local company? To legally offer cryptocurrency services in the jurisdiction…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? In accordance with clause 5 of Article 4 of the AML Act, VASP services include: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? To become a VASP in Norway, you must fulfill…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? The following crypto service providers are regulated in the Netherlands, according to the Money Laundering and Terrorist Financing Prevention Act: At the moment the entities who offer crypto-to-crypto exchanges are still not regulated. Who is the VASP regulator? What is the…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? VFA license types: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? 1. Establishing a Company. If the company operates from outside Malta, it must have a branch in Malta with its registered…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Who is the VASP regulator? What is the procedure for registering a VASP for a local company? Entities established in Luxembourg or providing services in Luxembourg cannot offer virtual asset services without registration with CSSF, as provided for in Article 7-1(1)…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Virtual asset service providers in Liechtenstein are called TT service providers. Trustworthy technologies (TT) are defined as technologies through which the integrity of tokens, the clear allocation of tokens to a TT identifier, and the transfer of tokens can be ensured….

Types of Strategies At the core of our trading bot lies algorithmic trading. We have chosen the Dollar-Cost Averaging (DCA) method. It involves the trader regularly purchasing a certain amount of assets to average the purchase price. For example, let’s take the long strategy – a client’s investment in a stablecoin and trading in anticipation…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Section 1 of the LPMLTPF states that virtual currency service provider (“VCSP“)  – the person providing virtual currency services, including the provider of services of exchange of the virtual currency issued by other persons, which provides the users with the possibility…

So, Burvix Traders is an algorithmic trading system that helps to profit from the cryptocurrency spot market. Trading strategies based on the refined DCA method are developed by our professional traders with over 20 years of experience in exchanges. The client needs to deposit funds into their own account on the exchange and create API…

Advantages of the UK incorporation  At the outset, we would like to focus on the fact that UK company incorporation offers significant advantages, rendering this jurisdiction as one of the most appealing for international business. Our lawyers have identified such advantages: Overall, these benefits place the UK as a preferred location for company incorporation, providing…

About the bot  As mentioned in our previous material, our traders have over 20 years of experience working on various financial exchanges. During this time, they have gained significant experience and developed their own approaches to trading. With the emergence and development of the cryptocurrency industry, they spent several years adapting their algorithms to the…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Decree 13 January 2022 (art. 1) applies to two categories of activities regarding virtual assets – VASP and e-wallet providers: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? In order to legally…

We know that the entire market is now talking about MiCA, which will come into force in 2024-2025. The text of MiCA is very difficult to read, and that is why we decided to translate MiCA into Ukrainian so that all Ukrainian-speaking business owners could have access to this document. By the way, we have…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? VASPs are companies that provide the following services: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? In order to legally provide their services in Ireland, companies need to be authorized on the…

Types of Stablecoins A stablecoin, by its essence, is a form of cryptocurrency designed to maintain price stability, avoiding the significant fluctuations typical of other cryptocurrencies. It is backed by real assets, such as fiat currencies (examples include tokens like USDT, TUSD, FDUSD) or commodities (tied to gold, like the PAXG token), which help preserve…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? The following services fall under the scope of the Hungarian AML Act (Section 1): Who is the VASP regulator? What is the procedure for registering a VASP for a local company? There is no licensing or authorization for VASPs in Hungary….

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Article 4 of Law 4734/2020 defines such activities of VASPs: providing exchange services between virtual currencies and fiat currencies, and providing custodial services of digital wallets. Who is the VASP regulator? What is the procedure for registering a VASP for a…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Under Article 14a, the AML act VASP may provide the following services: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? To legally provide cryptocurrency services in the UK, VASPs need to: A…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? KWG, unlike other European jurisdictions, does not operate under the term “virtual asset service provider”, instead the KWG identifies only one type of regulated virtual asset activity that requires authorization – the cryptocurrency custody business (paragraph 6, article 1a, section 1)….

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to Article L54-10-2 of the CMF digital asset services include the following services: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? The DASP must notably comply with the following conditions: To…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to 2 § of the LVT: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? According to 6 § of the LVT: The FIN-FSA shall register the notifier as a VCP if:…

Creating a Template Firstly, determine the frequency of conducting such analyses. They should not be too frequent. A short trading period may not be indicative. So-called losing streaks can last for several consecutive days, and basing conclusions solely on them is not advisable. From personal experience, such analysis should be conducted monthly, no more frequently….

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? The MLTFPA applies to the economic, professional and official activities of the following persons:  providers of a virtual currency service (“VASPs”). According to § 3 of the MLTFPA:  Who is the VASP regulator? What is the procedure for registering a VASP…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to § 1 (1) (cl. 22-26) of AML law: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? There is no specific license for VASPs in Denmark. However, persons who, for commercial…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? The status of an obliged person pursuant to Section 2(1)(l) and Section 4(8) of the AML law, i.e. a person providing services related to a virtual asset, is based, inter alia, on the following activities: Who is the VASP regulator? What…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to article 2 of the Law on the Provision and Use of Payment Services and Access to Payment Systems (31(I)/2018), the activities of crypto asset service providers (CASP) include the following: Who is the VASP regulator? What is the procedure…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to the AML act, paragraph 17, article 9, chapter III, legal entities and natural persons are subject to this law if they carry out any of the following activities: Who is the VASP regulator? What is the procedure for registering…

Fundamental Mistakes The primary challenge every trader faces is the experience of tilt. Originating from the world of poker, tilt refers to a state of mental or emotional distress or disappointment that leads a player to adopt suboptimal strategies, usually resulting in excessive aggression. From a practical standpoint, tilt is a consequence of sharp negative…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to the Закон за мерките срещу изпирането на пари, measures against ML and TF are mandatory for the following persons (Art. 4): Who is the VASP regulator? What is the procedure for registering a VASP for a local company? Currently,…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? According to paragraph 35°/2 and 35°/3 of Article 4 of AML law, VASP activities are the following: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? In Belgium there is a mandatory registration…

The implementation of the Markets in Crypto Assets (MiCA) Regulation marks a pivotal moment in Lithuania’s regulatory landscape for virtual assets. In response to the evolving challenges and risks associated with the crypto-asset sector, Lithuanian authorities are proactively shaping a robust regulatory framework. The MiCA Regulation, scheduled to take effect on December 30, 2024, introduces…

Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? VASPs are defined in Article 2 no. 22 of AML law as all providers (i.e. both natural persons and legal entities) that offer one or more of the following services: The definition of “VASPs” also covers VASPs domiciled in another EU…

The Burvix Traders platform streamlines the trading process, providing clients with the opportunity to easily connect their accounts and unlock the potential of automated strategies for effective capital growth. All that is required is to provide API keys and make a deposit. Registration and Connection After visiting our platform – burvix.io, the first thing a…

We are ready to share our experience and knowledge with you and have prepared a global report on crypto regulation throughout the European Economic Area. Our analytical review provides answers to questions on how to set up a company to operate a cryptocurrency business in all EEA countries. The report is available in two languages:…

The Markets in Crypto-Assets Regulation (MiCA) has ushered in a new era for the cryptocurrency industry in Europe, signaling a shift towards a more unified and comprehensive regulatory framework. As the dust settles on this transformative legislation, it is imperative to delve into the details of the institutions tasked with supervising the burgeoning virtual assets…

Prerequisites An auspicious route for non-European Union citizens seeking a residence permit in Cyprus lies within the investment scheme. This avenue necessitates the procurement of a property valued at a minimum of EUR 300,000, exclusively from a developer and of recent construction. The funds for this acquisition must originate from the applicant’s personal account in…

In this article, we embark on a journey through the rapidly changing landscape of online gambling regulation in Ontario. A brief overview of the gambling industry in Canada Canada has its own regulation of the gambling industry. In order to carry out any gambling-related activity in Canada, you must obtain regulatory approval (usually at the…

In the last article on the U.S. “The first step in obtaining a crypto license in the U.S. – MSB registration” we wrote about the need to register as an MSB as the first step to a legal crypto business. As stated earlier MSB registration with FinCEN is only one of two legal requirements, once…

History and Essence of Platforms  Speaking of fan tokens, it’s crucial to mention the leading player in the market – the socios.com product. Founded in 2018, it has released over 60 fan tokens for various sports categories, including football, basketball, and even esports. The primary blockchain platform they utilize is the Chiliz Blockchain, an Ethereum-based…

The plan involves subjecting crypto exchanges and digital asset platforms to existing financial service laws and introducing licensing requirements for platform operators. This article delves into the details of Australia’s crypto regulation proposal, its implications, and the broader context of the evolving digital asset landscape and the implications for various digital assets, including the increasingly…

Australian Tax Office (ATO) issuing new guidelines on decentralized finance (DeFi) activities. While the guidance aims to provide clarity, concerns have been raised within the legal community about its non-binding nature and the resulting confusion among investors. In this article, we explore the intricacies of the ATO’s guidelines, highlighting the challenges they pose and the…

the Financial Conduct Authority (FCA). However, growing concerns over consumer protection and potential offenses related to misleading cryptocurrency advertising have prompted authorities to expand the FCA’s regulatory reach. The new financial promotion regime, which will come into force on October 8, 2023, now falls under the restrictions on financial promotion of certain crypto assets set…

General understanding of gambling regulation in Estonia The regulator of gambling in Estonia is the Estonian Tax and Customs Board (“EMTA”). It is allowed to organize gambling that complies with the requirements of the Gambling Act (“Act”). The purpose of the Act is to set high standards for gambling operators, to provide measures to protect…

Kahnawake Gaming Commission: its role and Regulations To legally provide gambling services, it is necessary to apply for a gambling license with the local regulator – the Kahnawake Gaming Commission (KGC) which was established by the Mohawk Council of Kahnawake in 1996.  The KGC is comprised of three members appointed for two year terms by…

Advantages of algorithmic trading The main advantage of automated bots is obvious – these bots separate trading from the emotional influence of the trader. Operations are performed according to the specified algorithms, without the slightest influence of the human factor – indecision or emotional reactions to market fluctuations. This lack of emotions becomes a reliable…

In our recent article: “Overview of regulatory requirements for cryptocurrency companies in the U.S.” we discussed the general requirements for obtaining a cryptocurrency license in the United States. Today we are going to talk about the first step on the way to a legal crypto business in the U.S. – registering as a Money Services…

This system is designed to ensure a gaming environment which is fair, transparent and safe, balancing the interests of both operators and consumers. As a pioneer in online gambling, the jurisdiction is regularly updating its legal framework to meet emerging challenges and opportunities in the rapidly changing digital gaming landscape. This adaptability has attracted a…

The Monetary Authority of Singapore stated on November 23, 2023 that the proposed regulations, informed by public feedback, outline business conduct and consumer access measures to mitigate potential harm. Singapore’s Payment Services Act, a regulatory framework governing payment services and the provision of crypto services to the public, became effective in January 2020. Subsequently, Singapore…

What did we miss? We recently published an article “Overview of regulatory requirements for cryptocurrency companies in the U.S.” where, among other things, we touched on the legal uncertainty and regulatory risks associated with providing cryptocurrency services to US citizens, as on Tuesday 21 November 2023, the global crypto community was shocked by epochal news…

By following these outlined steps and collaborating closely with UAB Manimama Exchange, the investor can seamlessly leverage cryptocurrency for the purchase of real estate while navigating the necessary legal and compliance processes. photo source

This is relevant even when we are talking about the main locomotive of the cryptocurrency market, which is BTC. Compared to this, smaller coins, which number in the hundreds on cryptocurrency exchanges, show even lower predictability. However, this does not repel, and often even attracts gold-seeking traders. It is such cryptocurrencies that are able to…

The meaning of IT Park in Uzbekistan In July 2019, the first IT Park was opened in Tashkent, Uzbekistan.  IT Park is a complex of facilities, buildings and structures designed to launch and bring to market prospective startup projects, an extraterritorial free economic zone for IT companies, including integration with research and educational institutions.  According…

All this also applies to the cryptocurrency sector – it is easy for prospective crypto startups to get loans or any kind of investments. However, as usual, there are “buts” everywhere. The US has a general rule: “If any company wants to provide any kind of financial services to US citizens (individuals and legal entities)…

Third-country nationals, i.e. those who are not EU or EEA citizens, can reside and work in Belgium for more than 90 days within a 180-day period after obtaining, inter alia, an automatic residence permit or long-term resident status in Belgium. This article highlights the important aspects of obtaining these statuses, providing clear information on the…

The advantages include the following: The residence permit, in addition to being an identity document, allows you to: Grounds for obtaining a permit The main grounds for obtaining a fixed-term residence permit are as follows: The procedure for obtaining a fixed-term residence permit First, a third-country national must apply for a D visa abroad at…

On June 13, 2023, the President of the National Bank of Georgia approved Order No. 94/04, which is a Rule of registration, cancellation of registration and regulation of the VASP at the National Bank of Georgia. So, from July 1, 2023, a new regulation came into force in Georgia, defining VASP and requiring registration with…

A key difference To begin with, let’s analyze the basic concepts. Spot trading is the easiest method of working in cryptocurrency markets. Because it literally means buying or selling a commodity (cryptocurrency) for an existing asset. In addition to simplicity, this method has a number of advantages – the main one – the purchased cryptocurrency…

Asset tokenisation is mainly used in blockchain technology, where assets are fragmented and represented as tokens on a digital ledger (mostly security tokens). This makes it easier for investors and traders to buy, sell and exchange assets, as well as providing transparency and improving the security of transactions. Peculiarities of asset tokenization in Germany On…

it became the first country in the world to accept bitcoin as legal tender on June 9, 2021, as stipulated in the Bitcoin Law. This historic decision has attracted global attention and investment, positioning the country as a center for digital innovation and financial technology. The government’s proactive approach to creating a regulatory framework for…

While countries are struggling to deal with crypto-assets issues, the small island nation of Seychelles finds itself in a singular position – it stands out for not having a comprehensive regulation of crypto-assets.This article gives you an overview of the specifics of crypto regulation in this jurisdiction. Current situation with regard to the cryptoregulation in…

As is well known, money laundering occurs in three stages: placement, layering, and integration. The nature of travel agencies allows them to be used in all three stages. That is why VASPs and other obligated entities should carefully think about the risk scoring of travel agencies; do not rush to assign them a low or…

The supervisory authority for securities in Canada – Canadian Securities Administrators (CSA) has provided specific guidelines regarding the trading and issuance of stablecoins. CSA provided further instructions to cryptocurrency trading platforms regarding its “interim approach” for dealing with the trading of crypto assets that are tied to a specific value (including those commonly known as…

And, in general, as a company in the field of developing solutions for blockchain, we have come to the conclusion that this jurisdiction is interesting not only from the point of view of regulation, but also from the point of view of taxation. The tax has appeared, we are ready to talk about it and…

Fundamental analysis, which is a mandatory and favorite factor for many by many as a factor for the growth or decline in asset value on financial markets, is not yet fully adapted for cryptocurrency. This is a fairly young class of assets and the fundamental basis for determining their market value has not been fully…

From the bustling financial centers to the flourishing technology sector, South Africa’s allure lies in its multifaceted advantages that beckon both local and international entrepreneurs. The Government of South Africa is diligently aligning its legal framework with contemporary technological advancements and actively pursuing competitiveness on a global scale, just like its counterparts across different continents….

The introduction of Hong Kong’s licensing system for cryptocurrency firms serving individual traders, especially while the United States maintains a more cautious regulatory stance, could be seen as a potential opportunity for the city, according to insiders from the industry. The prospect of establishing operations in Hong Kong has garnered increasing attention from digital asset…

Against a background of high levels of privacy and data protection, the Cayman Islands attract businessmen seeking to ensure the anonymity of their financial transactions. The rich financial infrastructure and experienced professionals make these islands an ideal choice for setting up and managing offshore companies. ADVANTAGES OF COMPANY FORMATION IN THE CAYMAN ISLANDS The main…

Gambling in India enjoys considerable popularity in both physical and online formats. This exciting activity not only attracts a lot of participants but has also played an important role in boosting the economic growth of the country. Gambling operators not only provide an opportunity for people to have fun but also play a major role…

The new legislation, known as the National Gambling Ordinance (LOK), is currently under review by the Advisory Council and is expected to introduce more rigorous rules in the gambling industry, focusing on anti-money laundering measures, fraud prevention, and player protection. Minister Silvania emphasized the importance of transparency and compliance, demanding operators to adhere to legislation…

With its favorable regulatory environment, political stability, and strategic location, Andorra offers numerous opportunities for businesses seeking to operate in the crypto industry. This article aims to provide businessmen interested in venturing into Andorra with a comprehensive overview of the cryptoregulatory landscape, ensuring a smooth and compliant entry into this growing market. Legal Framework Andorra…

It is designed to regulate activities related to virtual assets, including cryptocurrencies, to prevent their use for illicit activities. In this article, we look at the VASP regulatory framework in the BVI, including its scope, requirements and impact on the virtual asset industry in that jurisdiction. Definition of VASP and exemptions The Virtual Assets Service…

Therefore, there is no single legal definition of the nature of crypto-assets in the EU. This situation makes their owners vulnerable to risks, limits the development of the market, limits the possibilities of innovative digital services, alternative payment instruments, becomes a platform for market manipulation and a basis for financial crimes. But in the near…

Advantages of doing business in Brunei The challenges of doing business in Brunei  Taxation There are no following types of taxes in Brunei But there are types of taxes such as: Prospects for it and crypto business  Brunei has a small but growing IT industry, and there are opportunities for businesses looking to invest in…

Labuan is home to Labuan International Business and Financial Centre (hereinafter: – “IBFC“), a free economic zone. IBFC is one of the fastest-growing jurisdictions in the Asia-Pacific region, offering a unique business environment conducive to company growth and development. The top reasons why Entrepreneurs choose Labuan We have selected the top reasons why you should…

In addition, Grenada has attractive investment programmes such as the Citizenship Investment Programme, which allows investors to obtain Grenadian citizenship in exchange for investment in the country’s economy. This can provide investors with additional benefits such as freedom of movement, access to new markets and the opportunity to improve their international business profile. In addition,…

Monaco is an exceptionally attractive place to do business. The country is known for its simplified company registration procedures and transparency of the process. A limited liability company (SARL) is the most common organizational form of legal entity in Monaco. Benefits of Doing Business in Monaco One of the main advantages of Monaco is its…

Bahama’s sand dollar The Bahamas has been relatively progressive in its approach to cryptocurrency regulation, recognizing the potential benefits that it can bring to the country’s economy. In 2019, the Central Bank of the Bahamas announced that it would be launching a digital version of the Bahamian dollar, known as the Sand Dollar. The Sand…

REGULATORY FRAMEWORK As we know, cryptocurrency is not legal currency or legal tender in Thailand. But despite this, on May 14, 2018, the Emergency Digital Asset Business Decree B.E. 2561 (Digital Asset Decree; hereinafter referred to as «DAD») was passed, which aims to regulate initial coin offerings (hereinafter referred to as «ICOs») in Thailand and…

France is also a world leader in innovation, modern technology and research and development, which is also facilitated by state policy and a highly educated workforce. In addition to the positive dynamics of the development of modern technologies, France also legalized cryptocurrency. The state is also positive about cryptocurrencies, but only if they are regulated….

Technological advancements open a range of opportunities for game developer companies to meet the demand of the new generation of gamers, while they might be challenged trying to establish the legality of Web 3.0 projects. The United Arab Emirates has been supporting and welcoming IT companies and shows tremendous support to the web3 community and…

Bahrain`s economy doesn`t depend on oil unlike other countries of the Persian Gulf. So regulation of the cryptocurrency sector was a good solution to boost the economy. Thus, today Bahrain stands in the way of the development of the cryptocurrency market. Regulation The Central Bank of Bahrain (Central Bank of Bahrain; hereinafter – “CBB”) is…

However, the more well-known a trademark is, the more appealing it becomes not just to consumers but also to fraudulent manufacturers. According to this, the purpose of this article is to present the Ukrainian trademark regulation and current market conditions. The concept of a trademark and its types An unusual piece of intellectual property is…

However, Croatia is not only attractive in the context of tourism investments – it is an open market that offers many opportunities for entrepreneurs and investors. In recent years, the government has implemented many policies to create a favorable business environment in accordance with EU laws and regulations. Among the innovations is the regulation of…

Regulation of cryptocurrencies in Romania At the current stage, in Romania there is no separate legislative paper on cryptocurrencies which establishes rules and procedures for their treatment, acquisition and use. Romania, like many countries that have not adopted special rules at the national level, but uses the EU regulatory framework for cryptocurrencies. Main regulatory authorities…

Earlier, we wrote that Uzbek Citizens are now allowed to trade with crypto assets in licensed crypto exchanges. In July 2022, the National Agency on Perspective Projects of the Republic of Uzbekistan (hereinafter referred to as: – “NAPP”) which is the licensing authority in the field of circulation of crypto assets announced licensing procedures for…

With the aim to protect its savings against inflation, to prevail the ban on purchase and sale of foreign currency abroad and the government did not prohibit using crypto currencies, therefore making their use legal. To protect their employees from constant fluctuations in exchange rates, it also allowed employers to pay salaries in cryptocurrency. CONTEMPORARY…

With a small population of only 5.5 million people and high economic growth, the country positively treats foreign investment for its economic growth. Every person has the right to register as an entrepreneur or set up his own company in Slovakia. Doing business in Slovakia is also attractive in terms of the location of the…

The jurisdiction offers many advantages to potential investors and business owners. The Netherlands combines first-class infrastructure with a strategic location in continental Europe, which makes it more attractive to European, Asian and American companies that are looking to expand their presence. The government actively supports technological innovations, in particular, cryptocurrencies. This approach gives cryptocurrency companies…

Recently, the government has represented that it will have a more balanced approach to regulation of the cryptocurrency sphere, to ensure investor and user protection. In particular, the Amendment Bill announced in 2022, aims to introduce important changes to regulation of Virtual Assets under the auspices of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (hereinafter:-“AMLO”)….

These business perspectives might raise questions on the legality of virtual assets and the governments’ attitude towards them. So, let’s clarify, what is legal, what is not? What says the Regulation The government does not recognise cryptocurrencies as a legal tender, as the central bank has the exclusive authority to mint money or issue currency…

According to the Norwegian Government Financial Market report 2021, the virtual asset market has grown rapidly in Norway in recent years, and it has grown especially strongly over the past year. During the pandemic, Norwegian consumers have been increasingly looking for new savings and investment options. Cryptocurrency during this period attracted special attention, compared to…

The advantages of opening a business in Denmark: One of the most serious problems for foreigners wishing to do business in Denmark is to obtain a temporary residence permit. For foreign nationals from third countries there are certain conditions and restrictions, the main of which is to obtain a Danish residence permit. Citizens of the…

Finland decided to follow the example of other countries and adopted a separate legislative act at the national level with the aim of regulating issues related to the circulation of crypto assets. Legislative measures The active development of the regulation of virtual assets in the countries of the European Union began after the adoption of…

Cashless society According to Sweden’s central bank, the Sveriges Riksbank (hereinafter:-“SR”), the proportion of Swedes who use cash fell from 39 to 9% between 2010 and 2020. According to the 2021 Worldpay Global Payments Report, Swedes utilized cash for only 9% of all transactions in 2020. These statistics provide reasonable grounds for believing that cryptocurrencies…

In this regard, it is estimated that around 200,000 people in Serbia own cryptocurrencies. This unstoppable digitalisation of the capital market required appropriate regulation, namely the adoption of the Law on Digital Assets (hereinafter: – Law). Serbia is one of the few countries that have adopted such a law. It is the first law in…

Despite this dynamic, the Greek government has yet to implement particular regulatory measures, nor has it “modernized” one of the existing regimes applicable to market participants that use blockchain technology or cryptocurrencies. As a consequence, digital asset markets are completely unregulated. In essence, cryptocurrency transactions are the responsibility of the individual conducting them. The Hellenic…

Bulgaria’s under-appreciation makes it attractive in the context of doing business. So what advantages does Bulgaria offer to entrepreneurs? First of all it’s economic security, developed sphere of foreign trade, Bulgarian currency peg to Euro and therefore stability of the exchange rate, encouragement of investments for business development, access to European markets and many others….

Laws and definitions On September 1, 2020, the Law “On Financial Markets Based on Distributed Ledger Technologies” (hereinafter referred to as the Law) came into force in Albania, which regulates legal relations in the field of cryptocurrency circulation in Albania. The Albanian legislator has determined that its purpose is to regulate the issuance of digital…

Dubai Multi Commodities Centre (hereinafter: – “DMCC”) – is a prestigious Free Trade Zone (FEZ) in Dubai, one of the most popular and fastest growing free economic zones. The Free Zone was established in 2002 to expand commodity trade flows through Dubai and is a seven-time winner of the “World’s Best Free Zone” according to…

As we discussed earlier (article – Cryptoregulation in the ADGM free financial zone), ADGM remains to be a leading crypto-regulator in the UAE. This time, we will shed a light on regulatory approaches towards the crypto token offering in this special economic zone and discuss the classifications set out by the governing rules in the…

The Abu Dhabi Global Market Free Zone (hereinafter referred to as – “ADGM”) is a tax-free international financial services center located on Al Maria Island in the heart of the UAE capital Abu Dhabi. The Free Zone is administered by three independent bodies: the Registration Authority, the Financial Services Regulatory Authority (hereinafter referred to as…

Income Tax There are no taxes on personal income and capital taxes in the UAE. The UAE does not charge personal income tax, and this applies to both UAE citizens and expats. For foreign employees, the same rules apply here as for locals when it comes to income tax. Accordingly, there is no obligation to…

The federal government initiated Blockchain Strategy 2021, with a purpose of capitalizing blockchain technology to transform 50% of government transactions through blockchain technology. Favorable tax regime, Special financial free zones and governmental support for blockchain and DLT technologies are highly promising Virtual assets business in the country. The article will discuss the current state of…

In this article, we will briefly discuss the legality of doing business in the UAE and the procedure for taxing businesses and key regulatory updates that directly affect the business environment in the UAE. Commercial Companies There are several options for incorporationg of legal entities and business registration in the UAE: Foreign companies can also…

This system allows foreign citizens to live, work and do business in the UAE without the need of a national sponsor as it was before. People who obtained such a visa can set up their own business with 100 percent of ownership. Depending on the category of an applicant, the visa is issued for 5…

Since 2017, the Reserve Bank of India (hereinafter: “RBI“) has expressed significant worries regarding cryptocurrencies. RBI issued a circular in April 2018 (“Ring-Fencing Circular”) prohibiting any RBI-regulated entity from dealing in digital currencies or offering services that assist anyone in dealing with digital currencies. Money laundering, consumer protection, market integrity, cybersecurity, and volatility are among…

Foreign companies can conclude contracts in cooperation with citizens of Turkmenistan: In this article, we will try to provide the most in-depth analysis of the identified problem and answer the question: if your partner or contractor is from Turkmenistan, what is the best way for him to be formalized, what contract to conclude with him,…

Vietnam, which is still considered to be the developing country in the world economy, in fact leads Southeast Asia in terms of digital technologies and its young and digitally savvy population is eager to adopt innovative digital financial solutions, including cryptocurrencies. Moreover, about a million Vietnamese already use cryptocurrencies: this figure is expected to grow…

As we have already discussed recent regulatory updates by the Spanish government on taxation and registration matters for the purposes of anti money laundering in our earlier article, this time we will broadly examine the categories of tokens and the recent regulatory guides on how commercialization of tokens is treated for investment law purposes. LEGAL…

Current policies The following list of laws form a general regulatory framework for virtual assets sector within the Cayman Islands: As of 2020, the government introduced a novel regulatory framework for businesses in the virtual assets industry, called the Virtual Assets (Service Providers) Act (hereinafter:- “VASPA”). The act implements Financial Action Task Force (FATF) recommendations…

Which is to say, stakers receive rewards from cash in savings accounts, the same as getting dividends from stocks. Although from US federal law perspective, digital currencies are treated differently than fiat currencies and stocks for income tax purposes. Personal Income Tax With reference to the Internal Revenue Service (hereinafter: – “IRS”, convertible virtual assets…

REGULATORY STIMULANTS One of the Uruguayan lawmakers – Juan Sartori proposed a new bill to legalize crypto-assets and give them a legal tender status. Considering this legislative proposal, it is possible to have some insight on how the Uruguayan authorities plan to define and determine the legal characteristics of crypto assets and blockchain technologies. Additionally,…

But there are countries that do not yet have appropriate legislative measures in place, including Costa Rica. The country is known for its openness to fintech technologies, combined with political and economic stability, the tax regime – Costa Rica is considered one of the best jurisdictions for opening offshore business in Latin America.The purpose of…

Despite the fact that Africa has the smallest cryptocurrency economy compared to any other region of the world, it’s still showing the most dynamic growth. According to Chainalysis, Africa’s cryptocurrency market has grown over 1200% by value received in the last year. Talking about Nigeria, the last one has entered the top 20 countries in…

Amended KWG Amended German Banking Act (“KWG”) became effective as of January 2020 that covered the definition of crypto assets applicable to the financial market. Specifically, according to section 1 Paragraph 11 of KWG, crypto-assets are ‘digital representations of a value that is neither issued nor guaranteed by a central bank or public entity and…

Financial Markets Authority (hereinafter:- “AMF”) even initiated a blacklist of unauthorized companies and websites to increase awareness of consumers. The article analyzes the current state of the legislative regime initiated by the French government to address regulatory risks brought by cryptocurrencies. Legislative framework It is believed that for the cryptocurrency to meet the legal sense…

Legislative framework There is no law that regulates ICOs and token issuance. Virtual assets do not fall under the regulatory scope of monetary policy as they do not fulfill the role of money in the Netherlands. Anti-Money Laundering and Combating Terrorist Financing Act (hereinafter:- “AML Act” defines a virtual currency as ‘a digital representation of…

In 2019, the legislative body eliminated doubts by introducing statutory measures to address the taxation regime of profits made from digital currencies. The article analyses the amended legislative acts, specifically Personal Income Tax Act (hereinafter “PIT” Act); Tax on civil law transactions Act (hereinafter: “PCC Act”) and Tax on goods and services Act (hereinafter: –…

Cryptocurrencies are per se not securities, neither are they legal tender in Spain. Whereas recent regulatory amendments have required all virtual currency service providers to obtain a registration status to legitimately carry out their business activities in Spain. The article will discuss up to date regulatory measures and taxation regimes which directly affects the virtual…

Thus there is a growing need for governmental intervention and Italy is cautious about the disquieting rise of cryptocurrencies. The article analyzes how the government has chosen regulation over prohibition to set up its own legislative framework. Attempts to define crypto assets The government of Italy has been attempting to define cryptocurrencies and related digital…

The legislative body of Singapore passed the Payment Services Act on January 14, 2019 (hereinafter:- “PSA”), with the aim to adjoin crypto exchange providers and dealers under the supervision of the Monetary Authority of Singapore (hereinafter:-”MAS”), central bank and financial regulator. The Act established a flexible framework for payment service providers and certainty for consumer…

What are the key legal changes? Crypto asset trading In accordance with the order by The National Agency of Project Management, (hereinafter:- “NAPM”) which came into force from November 23, 2021, residents of Uzbekistan can now freely trade crypto assets with other residents of Uzbekistan in national currency (uzbek soums), while they can only sell…

The current PSD2 provides that a payment or electronic money institution that has applied for and obtained authorisation from its home Community country may operate as a “Community payment institution” (or “Community electronic money institution”) in other countries of the European Union: The cross-border operation of EU institutions is guaranteed by the so-called “passporting rules”…

Cryptocurrency transactions in Poland have been de facto legal in the country until November 2021, since there were no rules prohibiting the exchange and trade of cryptocurrencies. In accordance with the new amendments to the Act on combating money laundering and the financing of terrorismon combating money laundering (hereinafter referred to as the “AML/CFT Act”),…

The Cyprus government is taking steps to bring some clarity to the vague legal framework of the crypto-assets sector. The regulatory incentives, in line with favourable corporate income tax rate (12.5%) seem to attract more investment into virtual assets business. With this in mind, it is worth discussing if recent developments are enough to meet…

Korean Citizens are prohibited to engage in gambling activities and have hardly any options to gamble. Gambling facilities in the country are open to everyone, but Koreans. It is worth highlighting that gambling sector is not developed in the country, yet it is a tourist attraction tool of the government. Basics of gambling regulation Gambling…

Progressive attitude towards virtual currencies positioned Malta as the champion in crypto regulation for its plain legal framework and efforts to furnish legal certainty to the industry. Being an EU based jurisdiction might add another value to do business, in lieu of choosing an offshore country. Malta is appealing to an increasing number of fintech…

EU Regulators demand financial institutions to execute identity checks to verify their clients and to ascertain that they are not dealing with money laundering or terrorist financing. To implement EU Money Laundering Directive into it’s legislation, the government of Lithuania has amended its statutory regulations and by laws, specifically: Under LPMLTF, businesses are required to…

Regulators seem to recognize the importance of innovation and market integrity, as the Bank of Canada is considering the issuance of a central bank digital currency to support the resonance of the digital economy. So it is worthy to shed some light on existing regulatory measures in Canada to see what is happening in the…

Eligibility Individuals who are ready to invest at least £2,000,000 (€2,365,300) and meets following eligibility requirements can apply for a Tier 1 (Investor) visa in the UK: Documents to be provided The following documents are needed to file an application for a visa under par: The documents should be issued within 6 months of the…

The Curacao e-gaming licensing authority, on the other hand, is in charge of guaranteeing that its licensees work within the scope of the guidelines established by the Government of Netherlands Antilles and ensures that they follow the standards of client service. One universal license covers all the type of gambling activities, such as: Master license…

Probably the best card for rig building right now is the Nvidia A4000. It has a turbine cooling system, is very compact, and is covered by a 3-year official warranty. A single 8-pin power connector helps to simplify the selection of power supplies for them. Pros: Minuses: In Ukraine these video cards currently cost 50,000…

Gambling industry of Singapore is currently regulated by following authorities: The Remote Gambling Act (2014) (hereinafter referred as “RGA”) regulates online gambling activities; Section 8 of the RGA states that anyone who gambles through remote communication and uses a remote gambling service shall be guilty of an offence. The subject act extensively defines the gambling…

Jersey remains as a leading fintech, STO and ICO jurisdiction, and its position for being technology friendly can be underlined by the incorporation of global technology companies such as world’s first regulated Bitcoin investment fund, GABI Plc or the world’s largest technology fund – SoftBank in Jersey. Since 2019, Jersey Financial Services Commission (hereinafter referred…

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