Is it legitimate exchange of BTC, altcoins?

nick_2017

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Quote from: TrumpD on October 28, 2017, 10:14:39 AM

Why would it be illegal? In some countries it may be, but it is wrong policies by governments that are anti change and are only interest is exerting control over their populace. Is is illegal anywhere to buy or sell gold? Look at it this way.

That's why I'm interested in these. Maybe someone knows about all the nuances.

TrumpD

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Why would it be illegal? In some countries it may be, but it is wrong policies by governments that are anti change and are only interest is exerting control over their populace. Is is illegal anywhere to buy or sell gold? Look at it this way.

nick_2017

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Activity: 490

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Who knows how can I open company for example in Cyprus if I live in another country? Can I do it remote?

nick_2017

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Merit: 102

Quote from: stompix on October 25, 2017, 03:36:24 PM

Quote from: nick_2017 on October 25, 2017, 03:24:22 PM

Hi. I'm going to open crypto exchange. Who knows about that: Are there any laws which is connected with crypto currency? What about taxes for this project? I am interested in such countries as Russia, England, USA. In which country are crypto exchange transactions legal?

As long as you plan to have AML and KYC compliant exchange you are safe.
But you should really ask for financial advice based both on your location and citizenship not only where you plan to run the exchange. Especially if you're from the US.
Anyhow stay away from Russia, not that the us and the uk are the best choices.
If you look at the eu go for Cyprus or Malta or Gibraltar.

And you can try:
https://www.btctrader.com/
They say they provide legal support also.

And , don't forget the few millions you need to start one

"Anyhow stay away from Russia" What about Russia?

Emoclaw

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Activity: 420

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You should hire lawyers that specialize in banking law. They will tell you what you need to comply with for each country/state in order to get licensed.
You need KYC and AML compliance among other things which I am not aware of.

You most likely need to hire a lawyer from every state/country that you want to get licensed in. That's the case with the US anyway. Be prepared to spend more than $200K for this.

Taras

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Please do not PM me loan requests!

Quote from: joinfree on October 25, 2017, 03:43:30 PM

It depends on the country where you are living right now. If you are in the USA or in China, you are not going to be able to create it because you will have ten cops knocking your door by tomorrow.

I'm not a lawyer, but in the United States, you should be okay if you take necessary steps including registering as a money services business and getting licensed to handle customer bitcoins if you're in a "bitlicense" state.

joinfree

sr. member

Activity: 1274

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

It depends on the country where you are living right now. If you are in the USA or in China, you are not going to be able to create it because you will have ten cops knocking your door by tomorrow.
If you are not sure about your laws, then better to hire a lawyer and ask him about it, maybe he would not know this, but he can investigate about this issue.
Good luck with your exchange, the most dificult part of it is going to be making this a good exchange..

stompix

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Blackjack.fun

Quote from: nick_2017 on October 25, 2017, 03:24:22 PM

Hi. I'm going to open crypto exchange. Who knows about that: Are there any laws which is connected with crypto currency? What about taxes for this project? I am interested in such countries as Russia, England, USA. In which country are crypto exchange transactions legal?

As long as you plan to have AML and KYC compliant exchange you are safe.
But you should really ask for financial advice based both on your location and citizenship not only where you plan to run the exchange. Especially if you're from the US.
Anyhow stay away from Russia, not that the us and the uk are the best choices.
If you look at the eu go for Cyprus or Malta or Gibraltar.

And you can try:
https://www.btctrader.com/
They say they provide legal support also.

And , don't forget the few millions you need to start one

FruitsBasket

legendary

Activity: 1232

Merit: 1017

Quote from: nick_2017 on October 25, 2017, 03:24:22 PM

Hi. I'm going to open crypto exchange. Who knows about that: Are there any laws which is connected with crypto currency? What about taxes for this project? I am interested in such countries as Russia, England, USA. In which country are crypto exchange transactions legal?

I think you need to hire a lawyer that will handle the legal part of the cryptocurrency exchange. You need licenses, pay taxes on your profit and KYC if u have fiat deposits and withdrawals.

nick_2017

full member

Activity: 490

Merit: 102

Hi. I'm going to open crypto exchange. Who knows about that: Are there any laws which is connected with crypto currency? What about taxes for this project? I am interested in such countries as Russia, England, USA. In which country are crypto exchange transactions legal?

Topic: Is it legitimate exchange of BTC, altcoins? (Read 347 times)