Obtaining crypto licenses, white label consulting,
ICO/STO, supporting NFT marketplaces, drafting policies
for crypto projects, DAOs, and gamify projects
Cryptocurrencies have long ceased to be a niche market. As of 2025, the total capitalization of the global crypto market is about 3.8–3.9 trillion US dollars, and the number of digital asset owners exceeds 560 million people. Together with the gradual formation of clear regulatory rules, this makes the crypto business one of the most promising directions of modern fintech.
Global regulators are increasingly active in organizing the market of digital assets.
In the European Union, the MiCA regulation has fully come into force, which establishes uniform rules for crypto-asset service providers (CASP). The main provisions have been active since December 30, 2024, and individual countries can use the transitional period until July 1, 2026.
Regulatory control is also strengthening in Asia. In Dubai, the VARA Authority introduced a comprehensive licensing system for VASP companies. In Hong Kong, the Securities and Futures Commission (SFC) updated requirements for virtual asset trading platforms, specifically regarding staking. Singapore, in its turn, expanded the list of crypto and payment services subject to licensing.
Regulation is also actively developing in Africa. In South Africa, the FSCA regulator already issues crypto exchange licenses to service providers. In Mauritius, the VAITOS law is active, and the Seychelles in 2024 adopted a separate law on VASP.
In Latin America, Brazil works under Law No. 14.478/2022, according to which the activity of VASP is controlled by the country’s Central Bank. In Argentina, a mandatory VASP registry under the supervision of the Securities Commission (CNV) was introduced in 2024–2025.
For international (“offshore”) projects, the Cayman Islands and the Bahamas remain popular, where clear licensing procedures exist for crypto exchanges, custody services, and other companies working with digital assets.
The legal operation of a crypto company today almost always requires obtaining an appropriate crypto license or registration (CASP, VASP, or payment license — depending on the jurisdiction). In addition, the company must fulfill requirements regarding:
- checking owners and managers (fit & proper);
- compliance with AML/CFT rules, including the Travel Rule;
- corporate governance;
- secure storage of client assets;
- separation of own and client funds;
- transparent disclosure of information;
- cybersecurity and technical protection.
In most modern jurisdictions, obtaining a crypto exchange license is only the first stage. Regulators expect that the company will constantly maintain high standards of risk management and client protection.
On this page, we compare the main crypto jurisdictions of Europe, Asia, Africa, Latin America, and offshore centers. You will find information about available types of licenses, timeframes for obtaining them, costs of processing, regulatory requirements, and ongoing obligations of licensees.
The SB-SB team helps to choose the optimal jurisdiction, prepare a package of documents, and quickly launch a crypto business in full compliance with the requirements of local legislation.
Types of crypto licenses:
- Brokerage or cryptocurrency exchange license. Allows organizing spot trading of crypto assets, managing exchange platforms, providing brokerage services, and performing market-making.
- Custodial license (Custody). Necessary for storing digital assets of clients, managing crypto wallets and private keys.
- Payment license / EMI. Gives the opportunity to carry out the exchange of cryptocurrency for fiat funds, conduct crypto payments and, in individual cases, issue electronic money or stablecoins.
- License for trading tokenized securities. Needed for platforms that work with security tokens and organize the trading of tokenized financial instruments.
- License for crypto derivatives. Allows working with crypto futures, perpetual contracts (perpetuals), options, and other derivative instruments, if permitted by local legislation.
- License for asset management. Intended for crypto funds, management companies, and advisors who manage portfolios of digital assets.
- Banking or trust license. Suitable for institutions providing custodial banking services, managing stablecoin reserves, or working through trust structures.
- Stablecoin issuer license. Necessary for companies that issue stablecoins. It involves requirements for reserves, corporate governance, audit, and regular disclosure of information.
Regional comparison (2026)
| Attribute | Europe | Asia | Africa | Latin America | Offshore |
|---|---|---|---|---|---|
| Primary authorization | CASP (MiCA license) | VA/DPT license (country-specific) | VASP/Exchange license or registration | VASP registration/license | VASP/DLT authorization |
| Market access | EU passporting (single market) | Domestic or regional (no single market) | Domestic only | Domestic or regional blocs | Global (case-by-case acceptance) |
| AML/CFT baseline | EU AMLD6 + FATF standards (Travel Rule enforced) | FATF standards, Travel Rule adoption | FATF standards, Travel Rule | FATF standards, Travel Rule | FATF standards, Travel Rule |
| Indicative timeline | ~3–6 months | ~6–12 months (varies by jurisdiction) | ~3–6 months | Varies (few weeks to several months) | ~1–3 months |
| Cost profile | Medium–High (compliance heavy) | Medium–High (in major hubs) | Medium (fewer barriers) | Medium (varies by country) | Low–Medium (low tax, lower fees) |
| Banking friendliness | High (for licensed CASPs with strong controls) | High (in tier-1 hubs like HK, SG) | Variable (limited in some countries) | Variable (improving in larger economies) | Partner-dependent (relies on correspondent banks) |
Europe
Europe is gradually transitioning to a unified system of crypto market regulation. The MiCA (Markets in Crypto-Assets) regulation creates common rules for all crypto-asset service providers and introduces a single CASP (Crypto-Asset Service Provider) license, which replaces numerous national regimes.
The main advantage of MiCA is that a crypto exchange license obtained in one EU country allows operating on the territory of all 27 member states of the European Union thanks to the mechanism of the so-called “European passport.”
Each country adapts its own legislation to the requirements of MiCA. For example, in Poland, the Act on Crypto-Assets of 2025 designated the Financial Supervision Authority (KNF) as the body responsible for issuing CASP licenses.
At the same time, regulators pay increasing attention to the fight against money laundering (AML/CFT), cybersecurity, and protection of user rights in accordance with MiCA and the Sixth EU Anti-Money Laundering Directive (AMLD6).
Comparative table of cryptocurrency regulation in Europe (2026)
| Metric | Poland | Lithuania | Czech Republic | Estonia | Slovakia | Spain | Bulgaria | Portugal | UK | Switzerland | Cyprus |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Project time frame | ~2–3 months (CASP license) | ~2 months | ~2–3 months | ~6–8 months | ~2 months | ~5–6 months | ~1 month | ~5–7 months | ~9–12 months (FCA) | ~2–3 months | ~4–6 months |
| State application fee | €0 | €0 | €0 | €10,000 | €0 | €0 | €25 | €475 | ~£2,350+ | ~CHF 2,000 | €10,000 |
| Required capital | €125,000 (CASP) | €125,000 | €125,000 | €250,000 | €5,000 | €50,000 | €1 | €0 | £0 (no set minimum) | CHF 20,000 (LLC) / 100,000 (LTD) | €150,000 |
| Corporate income tax | 19% | 15% | 21% | 20% (0% if reinvested) | 21% | 15% (first 2 years), then 25% | 10% | 21% | 19–25% (progressive) | ~11.9%–21% | 12.5% |
| Annual supervision fee | €0 | €0 | €0 | 2% of annual transaction volume | €0 | €0 | €0 | $0 | £0 | ~CHF 3,500 | €5,000 |
| Local staff required | 1 EU-resident director (MiCA) recommended local AML officer | AML Officer required | 1 EU director recommended | Local Director, AML Officer, Internal & External Auditors | Local Director | Local AML Officer | Recommended (not mandatory) | Local Director | Recommended (not mandatory) | AML Officer, Director | AML Officer, Director |
| Physical office | Required (in EU) | Recommended (remote ok) | Recommended | Required | Recommended | Required | Recommended | Required | Required | Required | Required |
| Audit requirements | Varies (no audit if small) | Not required | Not required | Required | Not required | Not required | Not required | Required | Required | Yes (FINMA oversight) | Required |
| Regulatory stability | Stable (EU MiCA unified) | Stable (MiCA) | Stable (MiCA) | Stable (strict regime) | Stable (MiCA) | Stable (MiCA) | Stable (EU AML law) | Stable (MiCA) | Stable (UK FCA regime) | Stable (5+ years consistent) | Stable (MiCA) |
| Banking options | EU banks & EMIs (crypto-friendly) | EU EMIs | EU EMIs | EU EMIs | EU EMIs | EU EMIs | EU EMIs | EU EMIs | UK EMI/crypto-friendly banks | Swiss crypto banks & EMIs | EU EMIs / mid-shore EMIs |
Here’s a note. MiCA establishes minimum requirements for own capital depending on the type of activity. For example, crypto exchanges and custody providers must have at least 125,000 euros, and operators of trading platforms — 150,000 euros.
In some countries, the minimum authorized capital for company registration can be significantly lower (for example, in Poland, 5,000 PLN is enough for an LLC), however, to obtain a cryptocurrency exchange license, it is still necessary to meet the requirements of MiCA.
Non-EU countries, in particular the United Kingdom and Switzerland, apply their own rules regarding minimum capital and licensing.
Analysis
Starting from 2026, all EU countries listed in the table require obtaining a CASP license for activities related to crypto exchanges, brokerage services, custodial storage, or token issuance.
As a result, the procedure for obtaining permission has become more thorough. If previously in individual countries registration took only a few weeks, now a full review of the application can last several months.
Along with this, MiCA establishes uniform requirements for all European crypto companies. In particular:
- at least one director must permanently reside in the EU;
- the company is obliged to have a real office on the territory of the European Union;
- all licensees operate under the same standards of compliance and corporate governance.
Jurisdictions that previously offered the most simplified registration (for example, Poland or Bulgaria) have now transitioned to full licensing control. This made the regulatory environment significantly more stable and predictable.
All companies that have obtained a CASP license in one of the EU countries can provide their services on the territory of the entire single European market without obtaining separate licenses in each state. That is why the choice of jurisdiction today is primarily a strategic decision that depends on tax conditions, the speed of obtaining permission, and the level of regulator requirements.
The United Kingdom, although not part of the EU, remains one of the most authoritative centers of crypto market regulation. Formally, there is no separate “crypto license” here, but crypto companies must undergo registration with the Financial Conduct Authority (FCA) to conduct activities under the control of AML regulation. The procedure is considered one of the most difficult and can last from 9 to 12 months.
Switzerland also operates according to its own model. Regulation is carried out by FINMA, and the country has long had a reputation as one of the most crypto-business-friendly jurisdictions. Depending on the company structure, capital from 20,000 to 100,000 Swiss francs is usually required, in return the business gets access to a stable legal system and developed banking infrastructure.
Despite the differences between jurisdictions, modern crypto regulation everywhere is based on the same principles: a company must have an appropriate crypto exchange license or registration, if necessary — additional permits to work with fiat funds or financial instruments, as well as strictly follow requirements for AML, personal data protection, and compliance.
Next, we will look in detail at the licensing requirements and regulatory features in Europe, Asia, Africa, Latin America, and offshore jurisdictions as of 2026.
Key Licensing & Compliance Requirements – Europe
| License/registration | Required for | Regulatory authority |
|---|---|---|
| CASP authorization (MiCA) | For all services related to crypto-assets: exchange, brokerage, asset custody, token issuance, consulting | National competent authority (for example, BaFin, AMF, CySEC) |
| Payment/EMI license | For operations with fiat currencies (deposits/withdrawals), as well as the issuance of electronic money together with crypto services | Central bank or financial regulator (for example, ECB, national regulator, or BoE in the United Kingdom) |
| MTF/OTF or securities license | For trading tokenized securities or derivatives | Capital markets regulator (for example, ESMA through national authorities or the FCA in the United Kingdom) |
| GDPR compliance | If a company processes personal data of EU residents | National data protection authority (DPA) |
The CASP, introduced by the MiCA regulation, became the main license for cryptocurrency businesses in Europe. It effectively replaced the previous VASP registration system. Firms that exchange cryptocurrencies, store digital assets, provide advice, or issue tokens must obtain CASP authorization from a national regulator to operate legally within the EU.
When a company also provides services linked to traditional fiat currencies or electronic money (for instance, to open fiat accounts or issue stablecoins exchangeable for fiat), it may need a Payment Institution or Electronic Money Institution (EMI) license according to current payment legislation.
If activities cover tokenized stocks, bonds, or other securities, stock market rules apply to the business. In this case, the firm must obtain an MTF, OTF, or another securities transaction license from the relevant financial regulator.
Separately, all crypto companies that handle user personal data must comply with GDPR requirements. This involves the implementation of proper data protection measures and, in certain cases, interaction or registration with the national data protection authority.
Key Licensing & Compliance Requirements – Asia
| License/Registration | Required for | Regulatory Authority |
|---|---|---|
| VASP / Digital Asset License | Crypto exchanges, custody providers, brokers, ICO/IDO platforms | Financial regulator (e.g. SFC in Hong Kong, MAS in Singapore, FSA in Japan) |
| Money Services/Payment License | Fiat currency handling (exchange to fiat, remittances, e-money issuance) | Central Bank or Monetary Authority (e.g. MAS for payments in SG, Bank of Thailand, etc.) |
| Securities Authorization | Trading or issuing tokenized securities or futures | Securities & Exchange Commission / similar (e.g. SFC for security tokens, SEBI in India) |
| Data Protection Compliance | User personal data processing (KYC info, etc.) | National Data Protection laws (e.g. PDPA in Singapore, PDPO in HK) overseen by government data/privacy agencies |
Cryptocurrency businesses in most Asian countries must obtain a VASP (Virtual Asset Service Provider) license or its local equivalent.
For example, all virtual asset trading platforms (VATP) in Hong Kong are required to get a license from the Securities and Futures Commission (SFC). In Singapore, under the Payment Services Act (PSA), crypto exchanges and custody services must obtain a Digital Payment Token Service License from the Monetary Authority of Singapore (MAS).
These licenses usually cover the exchange, transfer, and custodial storage of crypto-assets, and in some jurisdictions, the issuance of digital assets as well.
If a crypto platform works with fiat currencies (for example, it allows account deposits with bank funds, withdrawals, or uses electronic wallets or stored value services), a separate payment or money transfer license is often required. Many Asian countries regulate operations that convert fiat funds into cryptocurrency as payment services.
When a company offers tokenized securities or other investment instruments, it also falls under capital markets legislation. For instance, a platform that trades security tokens in Hong Kong must acquire a crypto exchange license in addition to Type 1 (securities dealing) and Type 7 (automated trading services) licenses under the Securities and Futures Ordinance (SFO).
Each Asian country maintains its own personal data protection legislation. Crypto firms must obtain user consent for data processing and protect this information properly. Furthermore, many jurisdictions require them to register personal data operators or follow strict rules regarding data breach notifications. Local data protection authorities oversee compliance with these requirements.
Key Licensing & Compliance Requirements – Africa
| License/registration | Required for | Regulatory authority |
|---|---|---|
| VASP registration/license | For crypto exchanges, crypto wallet providers, and brokers | Financial regulator or central bank (for example, FSCA in South Africa, CMA or CBK in Kenya) |
| Payment services license | For operations with fiat currencies, mobile money, or money transfers combined with crypto services | Central bank or payment regulator (depending on the country) |
| Securities/forex license | If crypto products are recognized as securities or foreign exchange instruments | Capital market regulator or financial regulator |
| Data protection compliance | During the processing of client personal data (documents, transactions, etc.) | National data protection authorities (for example, according to POPIA in South Africa) |
An increasing number of countries in Africa are introducing mandatory VASP licensing or registration systems.
Specifically, South Africa officially recognized crypto-assets as financial products in 2023. Since then, all virtual asset service providers must register with the FSCA (Financial Sector Conduct Authority) and fulfill legal requirements regarding anti-money laundering and counter-terrorism financing (AML/CFT).
Kenya’s parliament passed a VASP bill in 2025 that obligates crypto exchanges and wallet providers to obtain corresponding licenses. The Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) jointly oversee the market.
These licenses primarily aim to fulfill AML/CFT mandates, maintain proper custody of client funds separate from company assets, and implement other investor protection mechanisms.
Additional payment service licenses might be necessary if a crypto project also handles fiat payments, mobile money, or international transfers. For instance, an application for international crypto transfers might be required to obtain a money remittance license from the central bank of the respective country.
Although many African nations remain cautious about cryptocurrency derivatives, projects that deal with tokenized securities or Forex-like crypto trading may fall under existing capital markets or currency regulations. Such cases require approval from the appropriate financial regulator.
Concurrently, more African nations are implementing modern legislation on personal data protection, such as POPIA in South Africa and the Data Protection Act in Kenya. This means that crypto firms must provide adequate protection for user information. In certain cases, they must appoint data protection officers or undergo appropriate registration. Supervision of privacy requirements is gradually tightening; consequently, this oversight has become an integral component of regulatory demands for crypto businesses today.
Key Licensing & Compliance Requirements – Latin America
| License/registration | Required for | Regulatory suthority |
|---|---|---|
| VASP registration/license | Crypto exchanges, trading platforms, custodial services, crypto brokers | Financial regulator of the country (usually the central bank or securities commission; for example, the Central Bank of Brazil or CNV in Argentina) |
| Fintech/payment license | Services related to fiat currencies (exchange of cryptocurrencies for national currency, payment processing, etc.) | Central bank or financial supervision authority (depending on the country; for example, a license under the Fintech Law in Mexico) |
| Securities law compliance | Public offering of tokens or trading tokens recognized as securities | National securities market regulator (for example, CVM in Brazil or SVS in Chile) |
| Data protection compliance | Processing of users' personal data (KYC, transaction information, etc.) | National data protection authorities in accordance with local legislation (for example, LGPD in Brazil) |
Latin American countries are gradually forming their own approaches to regulating the cryptocurrency market, but the general trend is becoming increasingly obvious: crypto companies must undergo official registration as virtual asset service providers (VASP).
For example, Brazil’s landmark Law No. 14.478/2022 defined the legal status of services related to virtual assets and obliged their providers to register with the Central Bank of Brazil and work in accordance with its requirements. At the end of 2025, the Central Bank was finalizing the development of a detailed VASP licensing system, which should fully become operational in 2026.
In Argentina, since 2024, VASPs are required to register with the National Securities Commission (CNV) for control purposes in the field of anti-money laundering (AML). Panama has also prepared legislative changes that provide for VASP licensing and official recognition of crypto assets as a means of payment.
In addition to specific cryptocurrency registration, certain types of activities may fall under current fintech or payment services legislation. For example, the Fintech Law in Mexico requires obtaining a license for institutions providing services related to crypto assets to customers. Banks and fintech companies can work with virtual assets only after approval from the regulator.
If a company conducts a sale of tokens or works with tokenized securities, it must comply with the requirements of capital markets legislation. If a token is recognized as a security, its issuance may require state registration, and the platform’s activity — obtaining a broker or exchange license from the national regulator (for example, CVM in Brazil or SMV in Peru).
In parallel, the countries of the region are actively implementing or strengthening legislation regarding personal data protection. Such acts include, in particular, the Brazilian LGPD law and the Federal Law of Mexico on the Protection of Personal Data. They also extend to crypto companies that process personal and financial information of users.
Fulfillment of requirements in the AML field (mostly in accordance with FATF standards) and personal data protection are monitored by financial regulators or specialized state bodies. Compliance with these requirements is one of the key conditions for obtaining and maintaining VASP status or license.
Key Licensing & Compliance Requirements – Offshore Jurisdictions
| License/Registration | Required for | Regulatory Authority |
|---|---|---|
| VASP/DLT license or registration | Crypto exchanges, crypto wallets, and other services with virtual assets (if the activity is regulated in a specific jurisdiction) | Financial regulator or state registry (for example, GFSC in Gibraltar or BMA in Bermuda; in some jurisdictions, such as BVI, requirements remain minimal) |
| Money services license | Operations for conversion between fiat currencies and crypto assets (if such a license is provided by legislation) | Financial supervision authority or a separate regulator is absent altogether (in a number of offshore jurisdictions, such operations are not licensed separately) |
| Securities authorization | Issuance or trading of tokens recognized as securities (if relevant regulation exists) | Depends on the jurisdiction: in certain countries, this is covered by a DLT license (for example, in Bermuda), in others general rules regarding securities apply, or there is no special regime |
| Data/privacy compliance | Processing of clients' personal data | Depends on the jurisdiction: from minimal regulation to special laws on data protection (for example, in the Cayman or British Virgin Islands) |
Comparative table: obtaining a cryptocurrency license
| Step | Europe | Asia | Africa | Latin America | Offshore |
|---|---|---|---|---|---|
| Jurisdiction and scope | Define CASP scope under MiCA | Clarify VA/DPT categories | Map VASP services under law | Determine VASP/registration scope | Select VASP/DLT license class |
| Entity and substance | EU company + local substance | Local entity + substance | Local entity (some substance) | Local entity (as required) | Ensure economic substance |
| Governance | AML Officer, Compliance, MLRO, DPO | AML Officer, Compliance, MLRO | AML Officer, Compliance | AML Officer, Compliance | AML/Compliance officers, local directors |
| Policies and controls | AMLD6, GDPR policies, Travel Rule tech | FATF standards, local privacy laws | FATF standards, local AML laws | FATF standards, local AML laws | FATF standards, local data laws |
| Safeguarding and capital | Per MiCA/NCA (client asset segregation) | Per regulator (capital adequacy) | Per regulator (financial soundness) | Per regulator (if applicable) | Per regulator (adequate reserves) |
| Filing and queries | NCA application review | Regulator application review | Regulator application review | Regulator application review | Regulator application review |
| Authorization and supervision | License granted; ongoing EU reporting | License granted; ongoing audits | License granted; periodic reports | License/registration; periodic reports | License/registration; audits as required |
Offshore cryptocurrency jurisdictions traditionally attract business with flexible rules, however, the level of state control in them differs significantly.
Gibraltar and Bermuda have introduced full-fledged licensing regimes for companies working with digital assets. They cover the activities of crypto exchanges, custodial services, and other service providers, while putting forward strict requirements regarding investor protection, anti-money laundering (AML), and corporate governance.
Instead, many traditional offshore centers, such as the British Virgin Islands (BVI) or Seychelles, for a long time did not have specific cryptocurrency licensing. To start activities, it was sufficient to register a company. Today, these jurisdictions are gradually introducing simplified VASP registration regimes. For example, in the BVI, the procedure is fast, does not provide for minimum authorized capital requirements, and combines well with the simple registration of international business companies (IBC), with compliance support if necessary.
If a company works with fiat currencies, in some jurisdictions a separate license for money transfer or provision of payment services may be required. At the same time, in certain offshore centers, such operations are either not regulated separately at all, or fall under general financial legislation.
Regulation of tokens as securities also remains relatively soft. For example, in Gibraltar, certain tokenized projects may fall under the scope of securities legislation, while in other offshore jurisdictions, restrictions mostly concern only offerings to local investors.
Requirements regarding personal data protection in most offshore jurisdictions are also less strict. At the same time, the Cayman and British Virgin Islands already have laws built on the GDPR model, although the practice of their application still remains relatively moderate.
Despite more liberal regulation, companies with a good reputation usually voluntarily comply with international standards — AML/KYC procedures, FATF requirements regarding the Travel Rule, and modern cybersecurity standards. This significantly increases the chances of opening bank accounts and cooperating with international financial institutions.
Main conclusion: an offshore license by itself does not guarantee access to international markets. It is much more important that the company’s activities comply with generally recognized international standards of compliance and financial regulation.
Core compliance building blocks
AML/CFT and Travel Rule
A comprehensive AML/CFT program built on risk assessment includes Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) procedures, continuous transaction monitoring, and timely submission of suspicious activity reports (SAR/STR) to authorized bodies.
Verification of sanction lists, PEP (politically exposed persons) status, and negative media mentions is integrated into onboarding and transaction execution processes. The Travel Rule is also implemented — a secure exchange of information about the sender and recipient of cryptocurrency transfers in accordance with FATF Recommendation 16.
KYC, CDD/EDD and KYT
Reliable Know Your Customer (KYC) procedures ensure verification of the customer’s identity and transparency of the ultimate beneficial ownership (UBO) structure. For customers with an increased risk level, the sources of origin of funds and wealth are additionally verified to detect possible illegal assets in a timely manner.
Monitoring of customer activity is carried out on an ongoing basis using the Know Your Transaction (KYT) approach. Blockchain analytics and risk assessment tools are used to analyze cryptocurrency wallets and transactions, which help detect fraud, money laundering, or possible sanction risks.
Data protection and privacy
The company’s activity is built in accordance with the requirements of GDPR (for EU users) and other applicable laws on personal data protection. This includes the Privacy by Design principle, conducting a Data Protection Impact Assessment (DPIA), concluding a Data Processing Agreement (DPA) with partners, adhering to the principles of data minimization and using it only for the specified purpose, as well as data breach notification procedures and ensuring the rights of data subjects.
Information security and operational resilience
The company adheres to international standards of information security, in particular ISO 27001 and SOC 2, implementing modern approaches to cybersecurity and risk management.
To maintain a high level of protection, penetration testing is regularly conducted, incident response plans are developed, as well as business continuity and disaster recovery plans (BCP/DR) that allow minimizing the consequences of cyberattacks or technical failures.
Special attention is paid to the secure storage of crypto assets and management of cryptographic keys. Cold storage, multi-signature, or MPC technology are used for this, client assets are clearly segregated from company funds, and if necessary, independent auditors confirm the presence of reserves (Proof of Reserves), which increases customer trust.
Additional launch solutions
White Label and agency models allow a faster market entry thanks to cooperation with already licensed financial institutions, such as EMIs or cryptocurrency exchanges. This makes it possible to work within their license while the acquisition of one’s own is ongoing.
We also help with opening corporate bank accounts, connecting payment infrastructure (PSP), organizing fiat payments, and developing stablecoin reserve management policies in accordance with regulatory requirements.
For projects with tokenization, we provide full legal support for ICO, IEO, and IDO: analysis of the legal status of the token, verification of the whitepaper and tokenomics, preparation of documents for investors, as well as assistance in obtaining necessary approvals or permissions from regulators, if they are needed.
A separate direction is the verification of technological providers, custodial solutions, and the audit of smart contracts. We also advise on outsourcing so that all involved partners comply with legal requirements and cybersecurity standards.
Why work with SBSB Fintech Lawyers
Here are the main benefits.
Practical experience since 2013
The SBSB team has been accompanying fintech and crypto companies in various jurisdictions for over ten years. We provide a full range of services: from company creation and strategy development to obtaining licenses, building compliance, and opening bank accounts.
Expertise in various jurisdictions
Our lawyers constantly work with international regulation: from MiCA CASP licenses in the European Union to VASP registration in other countries. We help to fulfill requirements regarding AML/CFT, GDPR, client asset protection, and operational resilience in Europe, Asia, Africa, Latin America, and offshore jurisdictions.
Individual support from the beginning to launch
We analyze your business model and target markets to propose the optimal jurisdiction and licensing strategy. Then we take over the entire process: preparation of internal policies (AML/KYC, information security, data protection), paperwork, communication with regulators, as well as building corporate governance, compliance, and reporting systems necessary for stable business operations in the long term.
FAQs About Crypto Licenses
What defines the global regulatory landscape for crypto businesses in 2026?
Regulatory clarity is accelerating significantly across all major regions. The EU has fully implemented the unified MiCA (CASP) framework, allowing for cross-border passporting. In Asia, regimes like Dubai’s VARA, Hong Kong’s SFC, and Singapore’s MAS provide highly structured licensing rulebooks. Emerging markets are also maturing; Africa (South Africa, Mauritius) and Latin America (Brazil, Argentina) have introduced or are finalizing VASP registration and licensing requirements. Meanwhile, offshore hubs like the Cayman Islands and the Bahamas continue to offer specialized DLT/VASP pathways for global operations.
What are the primary types of crypto licenses available for fintechs?
Crypto licenses are categorized by the specific scope of services provided. Key authorizations include:
- Exchange/Brokerage: For spot trading, order-book management, and brokerage services.
- Custody: For the safekeeping of client assets and private key management.
- Payments/EMI: For fiat on/off-ramps, payment processing, and e-money issuance.
- Securities/ATS/MTF: For trading tokenized securities or derivatives, governed under capital markets regulations.
- Stablecoin Issuer: Specialized authorization for issuing stablecoins, including reserve governance, disclosures, and audit requirements.
- Funds/Asset Management: For managing digital asset portfolios and investment funds.
What are the core compliance building blocks required for a licensed crypto venture?
Operating legally requires a robust compliance infrastructure to meet global standards:
- AML/CFT & Travel Rule: Implementing risk-based AML programs, continuous transaction monitoring, sanctions screening, and Travel Rule technology to securely share originator and beneficiary information.
- KYC, CDD/EDD & KYT: Strict customer identity verification and source-of-funds checks, paired with blockchain analytics (Know Your Transaction) to detect illicit activity and risk-score wallets.
- Data Protection: Adherence to GDPR or analogous local privacy laws, including Data Protection Impact Assessments (DPIA), data minimization, and secure breach notification processes.
- Operational Resilience: Maintaining high information security standards (ISO 27001, SOC 2), secure crypto-asset custody (MPC/Multi-sig), and Business Continuity (BCP) planning.
How does a business determine the right jurisdiction for their crypto operations?
Selecting a jurisdiction requires a strategic trade-off between market reach and operational overhead. Businesses should evaluate:
- Market Access: Whether the business goal is regional distribution (e.g., using EU passporting under MiCA) or if a specific domestic market (common in Asian or Latin American hubs) is the primary target.
- Institutional Credibility: Jurisdictions with higher compliance bars (like the EU, UK, or Hong Kong) are often more attractive to institutional clients and banking partners compared to “light-touch” offshore hubs.
- Operational Costs: Weighing incorporation fees and tax regimes (like territorial tax systems) against the mandatory compliance costs (capital requirements, local office/staffing, and audit fees).
- Banking Friendliness: Assessing the local financial ecosystem’s support for crypto, as the ability to maintain corporate bank accounts and fiat payment rails remains a critical factor for long-term viability.
Official Sources & Primary Legislation
Primary Acts & Core EU Instruments
- Regulation (EU) 2023/1114 (MiCA) — Official Journal page
- Regulation (EU) 2023/1114 (MiCA) — full text (PDF)
- MiCA — consolidated text (as of 9 Jan 2024)
- Directive (EU) 2018/1673 (AMLD6) — combating money laundering by criminal law
- Regulation (EU) 2016/679 (GDPR) — Official Journal page
ESMA — EU MiCA Supervision Resources
UAE (Dubai) — VARA
Hong Kong — SFC (VATP Regime)
Singapore — MAS (PS Act / DPT)
- Payment Services Act 2019 (PS Act)
- Licensing for Payment Service Providers (incl. DPT services)
- MAS expands scope of regulated payment services (2024)
Brazil — Law 14,478/2022 (Cryptoasset Framework)
Argentina — CNV (VASP Registry)
Cayman Islands — CIMA (VASP Act)
Bahamas — DARE Framework
United Kingdom — FCA (Cryptoasset AML Registration)
Switzerland — FINMA (Crypto / DLT)
Crypto Licenses
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Daria Lysenko
Senior lawyer
Valeriia Kozel
Customer manager
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