Your exchange can get registered and be given license which makes the exchange to be legal in your country but that does not mean it can not get into legal trouble if the exchange is linked to crime or misappropriation of customers money and others. Example is FTX that later got collapsed. But if you do everything the right way, you can not get into legal trouble.
Take exch.cx (https://exch.cx/), they are company registered in Belize (meaning that they job are doing purely legal), even tho they are non-KYC cryptocurrency exchanger that's not requiring any users data (neither KYC or SoF - Source of Funds). You can see their entity details here: (https://exch.cx/faq#are_you_a_legal_entity)
Well, if non-KYC cryptocurrency exchange platform is legally registered company in country where laws are interpretating it as legal, it means operators of that service cannot get in legal trouble?
Only one who "can" get in legal troubles are individuals that are using this service despite service being interpreted as illegal in their country, right? Also, I assume that running .onion hidden service of completely legally registered company of non-KYC cryptocurrency exchanger is fine.
Only one who "can" get in legal troubles are individuals that are using this service despite service being interpreted as illegal in their country, right? Also, I assume that running .onion hidden service of completely legally registered company of non-KYC cryptocurrency exchanger is fine.
How come you can register a financial service providing company which can exempt its users from KYC and yet allow them to do financial transactions? Which country?
If I know correctly, no country will allow that. Once you are registered as a financial service company, you must ask for KYC documents from your users.
If you are planning to run your company via TOR/deepweb, why would you even register that business?
As I said, take exch.cx and Belize laws for example. And running my service over Tor is actually enhancing users' anonymity so it's nothing wrong with that.
Well, if non-KYC cryptocurrency exchange platform is legally registered company in country where laws are interpretating it as legal, it means operators of that service cannot get in legal trouble?
They cannot (or rather should not) get in legal trouble in the country A where the business is registered. However if they travel to the country B, where their service is illegal they can be detained and put on trial for violating the laws of B. That could happen if the citizens or companies of B used the service of the cryptoexchange that is registered in A.
In the past that happened with at least one online casino allowed US citizens to play in that casino. The casino owner traveled to South America by air, then the airplane landed in a US airport for refueling and the casino owner was arrested while the plane was refueling.
A similar incident happened recently with Pavel Durov, the CEO of Telegram. His company was registered in UAE and provided services that were legal in UAE, but when he landed in France, he was immediately arrested because his company was violating the EU laws.
Also keep in mind that the country A, where the exchange is registered could have extradition treaties with EU or USA, so they can demand your extradition. If A is small, insignificant country it will easily bend over and extradite you to EU or USA, even if you are a citizen of A.
So yeah, you can get in trouble if you run a non-KYC exchange. If you decide to start such an exchange you should be careful and do your due diligence.
Yeah, I get your point. You are suggesting that I can get into legal troubles if (I as non-KYC cryptocurrency owner) visit country that is interpretating non-KYC cryptocurrency exchangers as illegal. Also, I agree that when starting an exchange (espiacally with my ideas), you should approach this project while being completely careful. Being careful when doing it is a MUST.
