Which country is the easiest to get a crypto license? (part2)

How to Get an Indonesia Crypto Exchange License

Indonesia has recently introduced critical reforms for virtual assets, including the first bourse for crypto assets, called the Commodity Future Exchange. This bourse works like NASDAQ but for virtual currency services and requires all crypto companies to register in the national registry.
The Commodity Futures Trading Regulatory Agency also acts as the country regulatory for crypto activities. The minimum capital required to operate can be considered hefty, where crypto exchanges must provide $16 million in shared capital to operate, while crypto trading platforms have to double the amount to become licensed.
Indonesia allows the following crypto companies to legally work in the country and offer services to local and global investors.

• Crypto futures exchanges.
• Crypto settlement clearing houses.
• Storage wallets for crypto assets.
• Crypto trading.

How to Become a Licensed Crypto Exchange in Hong Kong

Hong Kong is a leading destination for blockchain projects, crypto platforms and Web 3.0 companies. It was named as the most crypto-ready country in 2022, with over 100,00 startups in this industry.
Hong Kong crypto license offers significant access to regional and global investors and markets, allowing companies to expand their reach and grow with 0% capital gain taxes.
Applicants for this license must pay an application fee of $10,000 and provide a minimum capital share of $1 million.
The tax system also provides a clear framework for companies, entailing 0% on any profits generated outside the country, 8.25% for profits less than $2 million per year, and any profits over that are subject to 16.5% corporate tax.

Conclusion

Getting an Estonia crypto license has become common among exchange and virtual wallet providers. The country emerged as a famous destination for crypto companies, benefiting from clear regulations and easy access to the global market.
Estonia’s cryptocurrency exchange license imposes no corporate or dividend gain tax, while the only applicable tariff is the value-added tax of 22% with no double taxation and no annual renewal fee.
Other countries, such as Lithuania, Labuan, Malta, and Hong Kong, have also emerged as sources for crypto licensing, offering one of the friendliest environments and regulations for setting up a virtual currency exchange service provider.

FAQ

How do I register for cryptocurrency exchange?

The application requirements and process vary between countries and jurisdictions. However, most regulatory frameworks ask for the company board members’ details, business portfolio, business plan, clear criminal record, minimum capital share, and an application fee.

Is crypto regulated in Estonia?

Yes. Only licensed companies can offer crypto services in Estonia, such as wallet and virtual currency exchange services. Applying for the Estonia crypto permit requires a minimum capital share of €100,000 and imposes 0% corporate tax.

Which country is the easiest to get a crypto license?

Estonia, Lithuania and Malta are among the countries that offer easy access to a reliable crypto exchange license. However, Hong Kong is considered the most crypto-friendly country with the largest number of blockchain-based startups and businesses.

How do I get a cryptocurrency license?

First, you need to decide the jurisdiction you want to get based on your location and target market. Once you find a proper framework to operate, review their legal environment and regulations toward cryptocurrencies and apply for a license according to the rules.