4 Must-Haves In Your Document Package To Get A Crypto Exchange License

With the growing demand and potential of digital currency, Cryptocurrency is a prevalent term worldwide. But considering the growing rates of crypto organizations, it is important to regulate the wide crypto market so that there is no space left for scammers. First things first, if you want to get started with cryptocurrency, you need to have a crypto exchange license.This can be a complex task considering the document package you need to prepare for the same. If you are getting into the crypto business, here are the things you need to complete your documentation to get a crypto exchange license.

 

 

A complete business plan:

Before you go into the crypto ocean, you need to have a complete business model. This business model should include all the details of your business. From the software you are planning on using to the source of funding. You also need to have a solid risk assessment plan to qualify for the crypto license.

The comprehensive details:

The next important thing you must include in your document package for crypto exchange licensing is the details of your business employees and shareholders. If you are stepping into the crypto market you need to have people known for their excellent reputation and years of experience. The comprehensive details should include, their work experience, qualification, area of specialization, and more.

Address details of your local office:

Many countries require you to have a physical office. For this, you can rent a room for a year, hire an anti-money laundering specialist, keep all necessary documents, establish accessible office hours, choose a local domain for a work permit, and make your platform available to residents of the country.

The AML Policy:

To prevent money laundering, your organization must develop sustainable mechanisms described in a document. Clients must provide identity and residence verification, and those previously involved in fraud or money laundering can be denied service. You must store all customer and transaction information and report suspicious activity to authorities. Non-compliance can lead to license revocation, so AML policy compliance is crucial for obtaining a work permit.

About Comply:

Comply is a platform that helps businesses in the crypto industry obtain a broker dealer license. They can provide guidance on regulatory requirements, assist with applications, and help companies stay compliant. With Comply, you can avoid legal and financial risks associated with unlicensed operations and ensure that you are meeting all necessary standards.

Visit https://www.the-comply.com/ to get professional assistance for cryptocurrency licensing.