Due to the strict regulation of crypto projects, many entrepreneurs are now doubting the feasibility of obtaining a cryptocurrency license https://prifinance.com/en/cryptocurrency-license/estonia/ in Estonia. It is important to say that the strictness of Estonian legislation on virtual currencies can be considered a real market advantage, not a disadvantage. Cryptocurrencies in Estonia are controlled in the same way as traditional fiat funds. As a result, these assets are considered alternative means of payment for individuals and legal entities.
Estonian Cryptocurrency License: Today’s Key Benefits
Today, the benefits of holding an Estonian cryptocurrency license are notable.
- When a firm successfully navigates through Estonia’s stringent regulations and secures a license, it safeguards itself against potential retractions and unpredictable measures taken by government bodies.
- This licensing also extends protection and assurances to the clients and associates of the endorsed companies, mirroring the safeguards found within conventional financial entities.
- Such credentials foster enhanced trust among consumers and collaborators, who typically display greater confidence in licensed Estonian crypto enterprises compared to those operating within unregulated spaces.
- Furthermore, the offerings of entities possessing an Estonian cryptocurrency license are accessible to both businesses and individuals alike, akin to the accessibility provided by traditional banks and payment structures.
Cryptocurrency Exchange Business: Registration Opportunities & Unique Features
In fact, cryptocurrency exchanges can be very profitable. Take into account the fact that Estonia is taking measures to regulate this industry and create a favorable environment for the development of cryptocurrency exchange:
- Licensing of cryptocurrency exchanges.
- Taxation of cryptocurrency transactions.
- Anti-money laundering and customer identification rules.
- Compliance with the requirements related to office rent and staff hiring.
- Reporting.
Regulation has a positive effect on increasing user confidence. For a business owner, it will often be quite difficult to solve legal issues on their own. Prifinance will help you to cope with this task.