Eternity Law International — News — Choice of jurisdiction for the exchanger

Choice of jurisdiction for the exchanger

Published:
February 17, 2020

CHOICE OF JURISDICTION FOR REGISTRATION OF EXCHANGE OR BITCOIN EXCHANGE

Choosing a jurisdiction to register an exchanger or Bitcoin exchange is an urgent issue for those who launch a project in the fintech segment.

It is worth paying attention to blockchain technology and smart contracts.

And if you want to avoid problems with taxation and have the most favorable legislative and business climate, you should also pay attention to the following countries, in whose jurisdiction many opportunities have been created for the world of cryptotechnologies.

Among all existing jurisdictions, the most loyal to the cryptocurrency market are: USA, UK, Estonia, Netherlands.

USA

If we look at modern statistics, then in the first place among the jurisdictions that register companies in the field of cryptocurrencies by the number of users and registration of Bitcoin in the world, is the United States.

And this is not surprising, since Silicon Valley is the founding place for most of the cryptocurrencies that operate on the basis of blockchain technology.

A large percentage of countries turn to the USA for the legal regulation of blockchain technologies and the cryptocurrency market. Losses and profits from the cryptocurrency market are an object of taxation aimed at capital growth.

GREAT BRITAIN

The British public has shown great interest in digital currencies. Britain is also home to some of the world’s most popular bitcoin products and services.

Despite this, the UK government and regulators are surprisingly quietly discussing the issue of digital currencies and practically do not recognize the development and implementation of cryptotechnologies.

There are three areas of regulation that should be considered when studying this issue: consumer protection, prevention of money laundering and taxation. Foreign regulations also have implications for those who work in the UK.

ESTONIA

Estonia is the first EU jurisdiction to legitimize the work of the crypto sector and to legally organize and conduct ICOs based on blockchain technologies. Among the advantages:

  1. Corporate tax rate 0%.
  2. You can create a company through an electronic residence (without coming to Estonia personally).
  3. The share capital is 2500 euros (capital can not be paid when creating a company, it can simply be announced).
  4. Cryptocurrency based licenses.
  5. Low bureaucracy and low tax policy.
  6. A non-resident of Estonia may become the owner / member of the board.
    Opening a bank and trading account in Europe.

NETHERLANDS

The Netherlands is an “advanced” state in matters of cryptocurrency. In the Dutch city of Arnhem, an experiment with bitcoins is being conducted – you can pay for utility, dental and other services with electronic currency.

According to the fiscal rules of the Netherlands, cryptocurrencies fall under the taxation program.

The banking sector of the Netherlands positions blockchain as a promising area for improving financial technology. Dutch authorities organize cryptocurrency conferences. And 20% of the population keep their savings in non-financial funds.

With all the “friendliness” to cryptocurrency and blockchain, the cryptocurrency turnover is not regulated at the legislative level. And the country notes the requirements for customer accounts and data protection are more stringent.

It is also worth noting 6 more popular jurisdictions: Australia, Finland, South Korea, Canada, Sweden, Denmark.

Our company is based on experience with this sphere and Eternity Law International specialists will be happy to рrovide you with assistance in resolving this issue.

You could be interested

Crypto license in Cayman Islands

This Virtual Assets Act of 2020 (VASP Act), as amended, establishes the legal framework for the trading of virtual assets in the Cayman Islands. And it regulates the registration and licensing of virtual asset service providers. Since the adoption of the VASP Act, the Cayman Islands Monetary Authority (CIMA) has received a large number of...

Gaming license in Comoros 2023

In recent years, the global gambling industry has witnessed unprecedented growth, with advancements in technology and increased accessibility fueling its expansion. Comoros, a small archipelago nation nestled in the Indian Ocean, has also recognized the potential of the gaming sector to drive economic development and tourism. As of 2023, Comoros has taken significant steps to...

Choosing a bank to open an account

SELECTING A BANK FOR OPENING AN ACCOUNT FOR A BEGINNING BUSINESSMAN Choosing a bank to open an account is one of the first steps for every startup. The most important stage for each startup is to create, think through and correctly draw up a financial plan. A good business plan can attract investors and allow...

Restoration of Ukrainian citizenship

On the basis of the Law “About Citizenship” Article 10, restoration of civil relations with Ukraine is carried out when: a person who has withdrawn from the legal position. Who does not have any other citizenship, submits an application for restoration. Then he becomes a citizen of Ukraine, even if he is not within the...

NEXT BLOCK EXPO BERLIN 2022

NEXT BLOCK EXPO BERLIN 2022, held in the bustling heart of Berlin, Germany, marked a significant milestone in the blockchain and cryptocurrency space. From cutting-edge technologies to regulatory insights, this expo served as a focal point for thought leaders, entrepreneurs, and investors to exchange ideas and forge new partnerships. With its dynamic program of keynote...

PI license in Latvia

If you want to deal with money transfers, payment-processing, attracting merchants, initiating payment-operations or opening accounts, today we’ll get closer to how to quickly obtain a permit such as a PI license in Latvia. First step: apply for payment-institution license in Latvia  – this is done at Latvian Bank. Such a permission provides enterprises involved...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360