From on-chain perpetuals to asset-backed stock tokens, this article explains issuance, custody, investor rights, and El Salvador’s Issuer and DASP framework.
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Due to the ongoing regulatory uncertainty within the EU resulting from the MiCA implementation, we are no longer providing EU licensing services until further notice. If you require licensing solutions, we recommend considering alternative jurisdictions such as Switzerland SRO, Dubai VARA, or the El Salvador Crypto License.
This notice, dated 7 March 2025, is provided solely for general guidance and does not constitute legal, financial, or regulatory advice.
With the arrival of 2025, cryptocurrency asset service providers (VASPs) in Poland and Europe face a brand-new legal environment. Starting from December 30, 2024, the EU MiCA regulation officially comes into effect, but Poland has not yet fully incorporated this set of regulations into its national law. This situation has left many Polish crypto industry professionals confused about how MiCA applies to them, how the transition period is arranged, and how their legal status will change.
Poland is brewing a new Crypto Asset Market Act but progress has been relatively slow. As early as February 2024, the first draft was released and underwent several rounds of public discussion. Although MiCA has already come into effect across the EU, Poland still needs local legislation to implement it specifically, such as determining which government department will manage and regulate crypto enterprises. Without such local legislation, even with MiCA in place, the government cannot handle applications and supervision of crypto service providers.
Currently, the specifics of the new bill are still evolving. Since it has not yet been submitted to the Polish Parliament (Figure 1), there may be changes in the future.
According to Article 152m, Paragraph 1 of the Polish Crypto Asset Market Act:
“From the effective date of this Act until the date of granting or refusing the license as described in Article 59, Paragraph 1(a) of Regulation (EU) 2023/1114, but no later than June 30, 2025, any entity registered in the virtual currency activities register on the effective date of this Act shall conduct its virtual currency activities in accordance with the current anti-money laundering and counter-terrorist financing regulations.”
Based on the above, the Polish legal draft once proposed shortening the transition period to six months (until June 30, 2025). This means that companies that became Polish VASPs before December 30, 2024, could only carry out virtual currency-related businesses until June 30, 2025. After this date, Polish VASPs would need to obtain a CASP license to continue operating.
Because Poland failed to pass its domestic crypto legislation before December 30, 2024 (see Figure 1), MiCA cannot be fully implemented here. During this period, according to MiCA provisions, Polish crypto enterprises can enjoy an 18-month transition period — that is, from December 30, 2024, they do not need to immediately apply for a new CASP license and can operate until July 2026 (although the draft is still changing and may be altered in the future).
Key Information Points:
On 2 January 2025, the Polish Financial Supervision Authority (KNF) issued a statement offering a different view on the application of MiCA during the transition period. The KNF believes that even if the new bill passes after the end of the year, it is still possible to shorten the transition period. This means that if the law indeed shortens the transition period, previous enterprises may face disputes, especially if they are forced to exit the business registry as a result.
Industry insiders, however, believe that as long as enterprises are registered before 30 December 2024, they should enjoy the full 18 months. If the government improperly removes these companies, they could even claim compensation from the state.
The lack of sound Polish legislation has also brought some issues. Currently, due to the lack of specific legal support, crypto enterprises cannot apply for a new CASP license, and submitted applications will temporarily not be processed. However, this situation is temporary, and it is expected that applications can begin to be accepted by February 2025.
In addition, from December 30, 2024, Poland will no longer accept new crypto enterprise registrations. In other words, new companies cannot enter the market in the short term, but existing enterprises can seize this opportunity to consolidate themselves and prepare for a more defined regulatory and supervisory environment in the future.
Below is a detailed step-by-step guide for applying for a CASP license, along with our services:
If your enterprise is not yet registered in Poland, this is the first step. Setting up a local entity in Poland is a necessary condition to proceed with the license application process.
This phase includes in-depth consultation aimed at understanding your business model, scope of activities, and compliance needs. The main tasks include:
The next phase focuses on preparing and submitting a full set of documents to demonstrate compliance with MiCA requirements. This requires your internal team to work with us to prepare the following:
This phase includes submitting the CASP license application to the Polish Financial Supervision Authority (KNF), maintaining communication with the regulatory body, and handling any follow-up issues. The main steps include:
At Crypto License, we focus on helping enterprises navigate the complexities of MiCA and the Polish regulatory environment. With years of experience in crypto compliance and license applications, our team ensures that your application is completed efficiently and professionally. From initial consultation to post-approval support, we will accompany you throughout the process.
Follow us for the latest updates on MiCA and its implementation in Poland. Contact us now to start your journey to obtaining a Polish CASP license.
Switzerland
Renowned for its strong reputation and offering the most comprehensive functionality for crypto services.
Canada
A cost-effective license to conduct both payment and crypto activities, making it attractive for new market entrants.
El Salvador
A pioneering country in the adoption of Bitcoin as legal tender, fostering crypto-friendly opportunities.
Poland
Known for a relatively easier licensing process.
Czech Republic
A growing hub for fintech innovation.
The Netherlands Remains the Top Destination for FinTech Seeking a Payment Institution (PI) License
The Netherlands, with its long history in global trade and the world’s first stock market, has solidified its position as a leading European financial hub, particularly after the UK’s Brexit. This has made the country a top choice for fintech companies seeking a Payment Institution (PI) license.
Its clear regulatory framework, combined with an innovation-friendly environment, attracts fintech firms from around the globe. Securing a PI license in the Netherlands not only enhances credibility but also grants access to the country’s thriving fintech ecosystem, opening doors to expansion across the entire European market.
Ready to launch your Netherlands PI license? Let’s partner up! Contact us today.
The Dutch Central Bank (DNB) regulates the issuance of Payment Institution license, ensuring compliance with Dutch laws and maintaining financial stability. With a strong mandate for overseeing safe institutions, DNB is one of Europe’s most respected regulators.
Securing a PI license in the Netherlands provides fintech companies with a gateway to the European financial market, enabling them to expand services across the EU and European Economic Area (EEA). The Dutch financial sector is renowned for its skilled talent pool, advanced infrastructure, and fintech-friendly policies, making it an ideal jurisdiction for fintech expansion.
Some key advantages include:
With a PI license, fintech companies can provide a variety of services, including:
Fintech firms offering payment-related services must apply for a PI license if they intend to operate within the EU or provide cross-border payment services. This includes:
To successfully obtain a PI license in the Netherlands, there are several key requirements to meet:
1. Documentation
Proper documentation is a critical component of any licensing application. Below is a list of essential documents the firm must prepare for its application:
2. Ideal Company Structure
We propose the establishment of two boards: an Executive Board and a Supervisory Board, each consisting of four directors, with a minimum of two directors based in the Netherlands.
For the Management Team, a minimum of three to four members is recommended, with at least one member possessing extensive experience in financial expertise. Key positions should include the CEO, CFO, CTO, and Compliance Officer.
Please note that establishing a physical presence of key personnel in the Netherlands will provide significant advantages for the company during the evaluation process.
3. Initial Capital
The minimum initial capital required is €125,000.
However, we advise applicants to include forecasted losses based on projections, along with an additional 10% in cash, to demonstrate the applicant’s perseverance and commitment to investing in the Netherlands.
4. Physical Presence
A physical office in the Netherlands is mandatory for meeting regulatory requirements; virtual offices and co-working spaces are not allowed.
A realistic estimated timeline for obtaining a PI license is 8-12 months, as shown below:
Estimated 2 months
Estimated 3 months
Estimated 6 months
A Netherlands Payment Institution licence allows holders to build a reputable brand, provide services across the Eurozone, access a skilled pool of finance talent, and benefit from tax advantages. Currently, the country hosts 430 active companies in the Dutch fintech market; the notable ones include Adyen, Bitfury, Bunq, Flow Traders, and Mollie.
A Payment Institution licence allows you to provide a range of services, including payment processing, electronic money issuance, fund transfers, and payment account services.
Yes, having a local office is mandatory.
Having a team with relevant fintech experience is essential from a regulatory perspective and will significantly enhance your likelihood of success. We recommend including at least two individuals with fintech expertise on your board and management team.
No, the Dutch Central Bank (DNB) only conducts a paper review during the application stage. However, it is advisable to develop a demo system along with a handbook to showcase your proposed services. The authorised IT system should be implemented within six months after the licence is granted.
The application process typically takes approximately 8 to 10 months, provided there is strong support from your team. We will take care of the timelines for you!
One-time fees comprise initial company setup expenses, such as registration charges, licence application costs, technology infrastructure investments, recruitment agency fees, and any other regulatory obligations.
Recurring costs encompass ongoing expenses, including annual audits, quarterly reporting, software subscriptions, employee salaries, office rent, and utilities.
We will perform a detailed analysis of your company's shareholding structure and provide tailored made recommendations. Our all-in-one incorporation service simplifies the entire process, making company setup straightforward and hassle-free.
Hiring experienced local talent, especially for high-ranking positions like Director, can be challenging due to trust concerns and their risk exposure, considering their established reputations. However, these individuals are crucial for leading teams and securing licences in fintech companies. We understand the concerns of both sides and can act as an intermediary to bridge the gap. We can help you build a strong local team through our extensive network.
We understand that preparing policies can be both challenging and time-consuming. Therefore, we are more than happy to take on the responsibility of drafting all the required documents. What we need from you is your input and timely responses to get things done.
We have connections with banking channels that can help you open corporate accounts and safeguard accounts seamlessly.
Dutch is the official language of the Kingdom of the Netherlands. Interestingly, The Netherlands is an English-friendly country, with 93% of the Dutch population speaking English. The Dutch Central Bank (DNB) accepts documents submitted in both Dutch and English. Additionally, our team communicates fluently in both English and Mandarin.
Getting the right individuals involved can be challenging, especially when they come from diverse cultural backgrounds, departments, and entities. Furthermore, understanding the regulator's expectations can also be difficult. We act as intermediaries, helping to manage relationships among all parties to ensure the project progresses smoothly.
Yes, our firm has seven years of experience providing post-authorization support to over 20 companies. Think of us as your internal compliance team; we will be there whenever you need assistance!
Yes, we can offer valuable insights for your international expansion plans and help you navigate the regulatory landscape in various jurisdictions. We have successfully supported over 10 clients from different regions in expanding their businesses across Europe, the UK, Hong Kong, and Southeast Asia.
Once licensed, you will need to fulfil ongoing reporting and compliance obligations, such as submitting regular operational reports, conducting customer due diligence, and ensuring adherence to anti-money laundering (AML) regulations. Being aware of these requirements is essential for keeping your licence active.
Failure to comply with regulatory requirements can result in penalties, including fines or, in severe cases, revocation of your licence. It is essential to establish robust compliance systems to mitigate these risks.
Yes, it’s important to be aware of regulations such as the Payment Services Directive II (PSD2), the Anti-Money Laundering Directive, and the Digital Operational Resilience Act (DORA). Staying informed about these regulations is vital for successful operations.
We recommend subscribing to regulatory updates from the Dutch Central Bank. Additionally, we can provide ongoing insights and updates regarding regulatory changes that may affect your operations.
A business plan should include an executive summary, market analysis, product and service details, marketing strategy, operational plan, competitor analysis (SWOT), and comprehensive financial projections.
A financial forecast encompasses detailed revenue projections, cost structures, and cash flow management over a three-year period. For a licence application, a solid financial forecast includes realistic metrics, typically illustrating significant losses in the first year, reduced losses in the second year, and achieving breakeven in the third year. Additionally, a good forecast should incorporate different scenarios, including normal, best-case, and worst-case outcomes, to provide a comprehensive view of potential financial performance.
An IT security policy establishes comprehensive guidelines to safeguard digital assets and sensitive data from unauthorised access and cyber threats. It encompasses critical areas such as access control protocols, data protection measures, incident response strategies, employee training programs, and regular security audits to ensure resilience against emerging threats.
A wind-down plan outlines how a firm will address major issues like software and hardware shutdowns, specifying responsibilities, shutdown procedures, risk management strategies, employee communication, and compliance with regulations to ensure a smooth transition and mitigate potential problems.
A remuneration policy outlines how employees are compensated, including salaries, bonuses, and benefits, ensuring competitiveness, fairness, and compliance with labour laws. The Board of Remuneration is responsible for deciding compensation packages based on factors such as company financial performance, economic conditions like inflation, and other relevant metrics.
Yes, establishing a local team is essential in the eyes of the regulator. They expect applicants to demonstrate a strong local presence in the Netherlands. The local team should comprise at least two local directors, along with key positions such as a CEO, CFO, Compliance Officer, and Head of IT.
The Netherlands' key rates are 25.8% for corporate tax, 21% for VAT, and 15% for dividend tax.
A Leading Destination for FinTech Seeking a Payment Institution (PI) License
Ireland has become a favoured destination for fintech companies, offering a vibrant financial ecosystem and strong ties to both the EU and international markets. Since Brexit, Ireland has emerged as a prominent European financial hub, attracting fintech firms seeking to be licensed there.
With a strong regulatory framework under the Central Bank of Ireland, the country offers a business-friendly environment that fosters innovation and growth. Its strategic location, English-speaking workforce, and favourable tax regime add to its appeal. Securing a PI license in Ireland boosts credibility and grants access to the EU’s Single Market, making it a prime gateway for fintech expansion across Europe.
Ready to launch your Ireland PI license? Let’s partner up! Contact us today.
The Central Bank of Ireland (CBI) regulates the issuance of Payment Institution license, ensuring compliance with Irish laws and safeguarding financial stability. CBI is one of the most respected regulators across the Eurozone.
Securing a Payment Institution (PI) license in Ireland provides fintech companies with direct access to the European financial market, facilitating expansion throughout the EU and European Economic Area (EEA). Ireland’s reputation for its strong financial regulatory environment, business friendly environment makes it a prime location for fintech companies to scale and grow.
Some key advantages include:
With a PI license, fintech companies can provide a variety of services, including:
Fintech firms offering payment-related services must apply for a PI license if they intend to operate within the EU or provide cross-border payment services. This includes:
To successfully obtain a PI license in the Ireland, there are several key requirements to meet:
1. Documentation
Proper documentation is a critical component of any licensing application. Below is a list of essential documents the firm must prepare for its application:
2. Ideal Company Structure
We propose the establishment of a board of directors with wide expertise coverage, including finance, legal compliance, information technology, risk management, marketing, and operations. This diverse skill set will ensure comprehensive oversight and strategic direction, enabling the firm to achieve sustainable growth.
For the Management Team, a minimum of three to four members is recommended, with at least one member possessing extensive experience in financial expertise. Key positions should include the CEO, CFO, CTO, and Money Laundering Reporting Officer (MLRO).
Please note that the CEO must be an Irish national. Having a localised team of key personnel will provide significant advantages for the company during the evaluation process.
3. Initial Capital
The minimum initial capital required is €125,000.
However, we advise applicants to include projected losses in their forecasts to demonstrate their ability to manage the project and their financial viability to sustain the venture.
4. Physical Presence
A physical office in Ireland is mandatory; virtual offices and co-working spaces are not accepted.
A realistic estimated timeline for obtaining a PI license is 8-12 months, as shown below:
Ireland’s Payment Institution licence allows holders to establish a reputable brand, offer services across the Eurozone, and enjoy various tax benefits. The country is home to thousands of multinational corporations and is consistently ranked as a top destination due to its ease of doing business.
A Payment Institution licence allows you to provide a range of services, including payment processing, electronic money issuance, fund transfers, and payment account services.
Yes, having a local office is mandatory.
Having a team with relevant fintech experience is essential from a regulatory perspective and will significantly enhance your likelihood of success. We recommend including at least two individuals with fintech expertise on your board and management team.
No, the Central Bank of Ireland only conducts a paper review during the application stage. However, it is advisable to develop a demo system along with a handbook to showcase your proposed services. The authorised IT system should be implemented within six months after the licence is granted.
The application process typically takes approximately 8 to 10 months, provided there is strong support from your team. We will take care of the timelines for you!
One-time fees comprise initial company setup expenses, such as registration charges, licence application costs, technology infrastructure investments, recruitment agency fees, and any other regulatory obligations.
Recurring costs encompass ongoing expenses, including annual audits, quarterly reporting, software subscriptions, employee salaries, office rent, and utilities.
We will perform a detailed analysis of your company's shareholding structure and provide tailored made recommendations. Our all-in-one incorporation service simplifies the entire process, making company setup straightforward and hassle-free.
Hiring experienced local talent, especially for high-ranking positions like Director, can be challenging due to trust concerns and their risk exposure, considering their established reputations. However, these individuals are crucial for leading teams and securing licences in fintech companies. We understand the concerns of both sides and can act as an intermediary to bridge the gap. We can help you build a strong local team through our extensive network.
We understand that preparing policies can be both challenging and time-consuming. Therefore, we are more than happy to take on the responsibility of drafting all the required documents. What we need from you is your input and timely responses to get things done.
We have connections with banking channels that can help you open corporate accounts and safeguard accounts seamlessly.
English is the official language of the Republic of Ireland. Our team communicate in both English and Mandarin.
Getting the right individuals involved can be challenging, especially when they come from diverse cultural backgrounds, departments, and entities. Furthermore, understanding the regulator's expectations can also be difficult. We act as intermediaries, helping to manage relationships among all parties to ensure the project progresses smoothly.
Yes, our firm has seven years of experience providing post-authorization support to over 20 companies. Think of us as your internal compliance team; we will be there whenever you need assistance!
Yes, we can offer valuable insights for your international expansion plans and help you navigate the regulatory landscape in various jurisdictions. We have successfully supported over 10 clients from different regions in expanding their businesses across Europe, the UK, Hong Kong, and Southeast Asia.
Once licensed, you will need to fulfil ongoing reporting and compliance obligations, such as submitting regular operational reports, conducting customer due diligence, and ensuring adherence to anti-money laundering (AML) regulations. Being aware of these requirements is essential for keeping your licence active.
Failure to comply with regulatory requirements can result in penalties, including fines or, in severe cases, revocation of your licence. It is essential to establish robust compliance systems to mitigate these risks.
Yes, it’s important to be aware of regulations such as the Payment Services Directive II (PSD2), the Anti-Money Laundering Directive, and the Digital Operational Resilience Act (DORA). Staying informed about these regulations is vital for successful operations.
We recommend subscribing to regulatory updates from the Central Bank of Ireland. Additionally, we can provide ongoing insights and updates regarding regulatory changes that may affect your operations.
A business plan should include an executive summary, market analysis, product and service details, marketing strategy, operational plan, competitor analysis (SWOT), and comprehensive financial projections.
A financial forecast encompasses detailed revenue projections, cost structures, and cash flow management over a three-year period. For a licence application, a solid financial forecast includes realistic metrics, typically illustrating significant losses in the first year, reduced losses in the second year, and achieving breakeven in the third year. Additionally, a good forecast should incorporate different scenarios, including normal, best-case, and worst-case outcomes, to provide a comprehensive view of potential financial performance.
An IT security policy establishes comprehensive guidelines to safeguard digital assets and sensitive data from unauthorised access and cyber threats. It encompasses critical areas such as access control protocols, data protection measures, incident response strategies, employee training programs, and regular security audits to ensure resilience against emerging threats.
A wind-down plan outlines how a firm will address major issues like software and hardware shutdowns, specifying responsibilities, shutdown procedures, risk management strategies, employee communication, and compliance with regulations to ensure a smooth transition and mitigate potential problems.
A remuneration policy outlines how employees are compensated, including salaries, bonuses, and benefits, ensuring competitiveness, fairness, and compliance with labour laws. The Board of Remuneration is responsible for deciding compensation packages based on factors such as company financial performance, economic conditions like inflation, and other relevant metrics.
Yes, establishing a local team is essential in the eyes of the regulator. They expect applicants to demonstrate a strong local presence in the Ireland. The local team should comprise at least two local directors, along with key positions such as a CEO, CFO, Compliance Officer, and Head of IT.
Looking to expand your FinTech services in the UK market quickly and efficiently? A UK EMI license is essential for offering a range of regulated services, from e-wallet, e-money issuance and payment processing to IBAN accounts, payment cards, and SWIFT payments. With a UK EMI license, you can build trust as a regulated entity, attract customers and investors, and position your business for growth and valuable partnerships.
Ready to launch your UK EMI? Let’s partner up! Contact us today.
To secure a UK EMI license from the FCA, you must meet these requirements:
With a UK EMI license, electronic money institutions can legally provide a wide range of regulated financial services, expanding their reach in the UK market. Key services include:
UK EMI licenses no longer offer automatic EEA access. Let’s discuss your European expansion strategy – we’ll help you navigate the options.
VAT exemption on most financial services, potential for remote onboarding, no transaction caps, and a globally respected jurisdiction with a well-developed fintech ecosystem.
Small EMIs have limits on transaction volume and e-money balances while Full EMIs offer unrestricted operations. We'll analyse your business model and revenue projections to help you choose the right license.
Based on our experience, expect several months. We'll streamline the process for the fastest possible outcome.
Yes, your leadership must be UK-based. We can help find suitable staff and space.
Experience helps, but we can guide you in building a strong team or connect you with experienced compliance professionals, ensuring a strong application.
No, Brexit changed that. We'll help you craft a European expansion strategy.
The best fit depends on your target markets, preferred languages, local talent pool, and specific regulatory considerations. Popular choices include Lithuania (fast licensing), Ireland (established fintech hub), and Luxembourg (strong financial reputation). Let's develop a tailored expansion strategy together – we'll help you choose the jurisdiction that best suits your business goals.
Beyond FCA fees, expect legal, tech, and office setup costs. We’ll also assess potential costs for recruitment and external audit requirements to give you a realistic picture.
Expect FCA fees (based on income), compliance monitoring, audits, and potential insurance. We can help with estimates.
Secure customer onboarding platforms, transaction processing systems, AML/KYC monitoring software, and risk management tools. We can advise on suitable solutions or connect you with trusted technology providers.
Yes! We offer ongoing compliance services to keep you on track.
We have a proven track record and a client-focused, streamlined project management approach for licensing applications. We're experts in navigating UK and global regulations, aiming to be your long-term partner for both UK compliance and global expansion.
Absolutely! From company formation to application submission and FCA communication, we'll guide you every step of the way.
CryptoLicense specializes in simplifying the registration and licensing process for financial service providers seeking a UK EMI License. We support startups, payment service providers, and FinTech businesses in navigating the UK’s regulatory environment, ensuring full FCA compliance and smooth entry into the UK market.
With in-depth knowledge of key markets, we provide tailored compliance solutions for businesses in regions such as Hong Kong, Singapore, Malaysia, Europe and North America. Our expertise spans popular licenses, including the Czech Republic VASP license, Swiss SRO, Polish VASP, and Salvadoran cryptocurrency licenses. Our global network and understanding of local practices give your business a competitive edge.
We recognize the unique challenges international businesses face, from complex regulations and cross-border compliance to cultural differences. CryptoLicense offers comprehensive support, from navigating FCA requirements to providing customized compliance solutions. Our goal is to streamline the licensing process, empowering you to successfully launch and expand your FinTech or e-money services in the UK and beyond.
Sheldon is a seasoned FinTech professional with 7 years of experience specializing in cross-border payments and cryptocurrency licensing, spanning from the web2 to web3 era. He has successfully managed over 30 projects, delivering expertise in payment and cryptocurrency license applications. With a strong network of strategic partnerships, Sheldon brings valuable connections and resources to every endeavor.
Jing is a skilled professional specializing in project management for regulatory compliance and financial institution business development. Currently handling licensing requests in Czech and Switzerland, he also brings a strong legal background in dispute resolution to his work.
Launch innovative payment solutions in the UK by obtaining the coveted Authorized Payment Institution (API) license. With the UK API License, you can establish your business as a regulated provider of secure payment services. At CryptoLicense, we simplify the application process, guiding you through FCA requirements to help you confidently secure your API license and succeed in the competitive UK market.
Ready to launch your UK API? Let’s partner up! Contact us today.
The FCA sets the requirements for API applicants. Here’s a basic overview:
A UK Payment Institution License allows businesses to offer a broad range of regulated payment services, including:
UK API licenses no longer offer automatic EEA access. Let’s discuss your European expansion strategy – we’ll help you navigate the options.
Operating within the UK's innovative FinTech market provides numerous benefits: expand your service offerings, build stronger credibility, and tap into new growth opportunities alongside established financial institutions.
APIs primarily focus on enabling seamless data sharing and payment initiation between financial institutions and third parties. EMIs offer a wider range of services, including e-money issuance, payment processing, and account management. We can advise the right choice based on your specific business model.
An API primarily focuses on secure data sharing and payment initiation between financial systems, while an SPI is a licensed entity that can directly offer payment services like account management, processing, and potentially card issuance. We'll help you choose the right licence for your business.
Based on our experience, the process can take several months and if potential FCA requests for further information arise. We'll streamline the process for the fastest possible outcome.
Yes, your leadership must be UK-based. We can help find suitable staff and space.
No, Brexit changed that. We'll help you craft a European expansion strategy.
Relevant experience is beneficial, but not always required. We can help you build a qualified team or connect you with experienced professionals.
Expect to implement systems for secure data transmission, API management, fraud prevention, and compliance monitoring. We can advise on suitable solutions or connect you with trusted technology providers.
Costs include FCA application fees, setup costs (office space, staffing), technological infrastructure, ongoing compliance, and potential audits. We'll provide a transparent breakdown.
Yes! We offer ongoing compliance services to keep you on track.
We have a proven track record and a client-focused, streamlined project management approach for cross-border licensing applications. We're experts in navigating UK and global regulations, aiming to be your long-term partner for both UK compliance and global expansion.
Absolutely! From company formation to application submission and FCA communication, we'll guide you every step of the way.
CryptoLicense specializes in simplifying the registration and licensing process for payment and crypto businesses seeking a UK API License. We help startups, crypto businesses, and financial service providers navigate the UK’s regulatory landscape with ease, ensuring full compliance and a smooth market entry.
With in-depth knowledge of key markets, we provide tailored compliance solutions for businesses in regions such as Hong Kong, Singapore, Malaysia, Europe and North America. Our expertise spans popular licenses, including the Czech Republic VASP license, Swiss SRO, Polish VASP, and Salvadoran cryptocurrency licenses. Our global network and understanding of local practices give your business a competitive edge.
We understand the unique challenges international businesses face, from complex regulations to cross-border compliance and cultural differences. CryptoLicense provides end-to-end support, from navigating FCA requirements to delivering tailored compliance solutions. Our goal is to streamline the licensing process, empowering you to launch and scale your payment or FinTech venture in the UK and beyond.
Sheldon is a seasoned FinTech professional with 7 years of experience specializing in cross-border payments and cryptocurrency licensing, spanning from the web2 to web3 era. He has successfully managed over 30 projects, delivering expertise in payment and cryptocurrency license applications. With a strong network of strategic partnerships, Sheldon brings valuable connections and resources to every endeavor.
Jing is a skilled professional specializing in project management for regulatory compliance and financial institution business development. Currently handling licensing requests in Czech and Switzerland, he also brings a strong legal background in dispute resolution to his work.
Australia’s crypto licensing framework consists of two key layers. At the operational level, crypto asset service providers are required to register with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a DCE or RSP under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Where business activities fall within Australia’s definition of regulated financial services, an Australian Financial Services Licence (AFSL), issued by ASIC under the Corporations Act 2001, is also required.
Operating crypto services in Australia requires registration with Australian Transaction Reports and Analysis Centre (AUSTRAC) under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
Businesses providing crypto exchange, fiat on- or off-ramp, or crypto-related payment services must register as a Digital Currency Exchange (DCE) and a Remittance Service Provider (RSP). These requirements apply to both Australian and foreign-owned businesses targeting the Australian market.
CryptoLicense supports clients through the AUSTRAC registration process, with a focus on correct scoping, clean structure, and long-term regulatory viability.
To register and operate as a DCE and RSP in Australia, businesses are expected to meet the following core requirements:
These are operational requirements, not one-off submission items. AUSTRAC expects them to be implemented and maintained on an ongoing basis.
DCE registration is required if a business:
DCE registration places the business under AUSTRAC’s AML/CTF supervision and requires an implemented AML program.
RSP registration is required if a business:
For most fiat-crypto business models, RSP registration applies together with DCE.
Australia is strengthening its crypto regulatory framework, including expanded AML/CTF obligations and a transition toward a broader Virtual Asset Service Provider (VASP) regime.
Current DCE and RSP registrations remain valid. However, businesses are expected to maintain up-to-date AML frameworks and adjust controls as requirements evolve. Structuring the registration correctly at the outset reduces future disruption.
CryptoLicense can arrange an Australian resident director and AML/CTF compliance officer for foreign-owned businesses.
A standard AUSTRAC DCE & RSP project typically takes around 4–5 months, depending on business complexity and readiness.
Timelines are indicative and subject to regulatory review.
CryptoLicense provides structured guidance to keep the process efficient.
If you are planning to operate crypto exchange, on- or off-ramp, or crypto-enabled payment services in Australia, DCE and RSP registration is the starting point.
CryptoLicense can assist with planning and completing the registration clearly and correctly.
Note: Businesses offering custody, investment-style, or advanced financial services may also require AFSL. This should be assessed and planned separately.
An Australian Financial Services Licence (AFSL) is issued under the Corporations Act 2001 and regulated by the Australian Securities and Investments Commission (ASIC).
For digital asset services, AFSL is required where activities fall within the scope of regulated financial services under Australian law. This typically applies when services go beyond AML-regulated activities and involve custody, investment-style features, or regulated financial products.
AFSL does not replace AUSTRAC registration.
It is a separate licensing regime that applies based on the nature of the services provided.
AFSL may be required where a digital asset service provider:
In practice, most full-scale, client-facing digital asset platforms should expect AFSL to be required, or should plan for it early as part of their Australia market strategy.
Australia applies a layered regulatory model:
Where applicable, businesses must comply with both regimes in parallel, depending on how their digital asset services are structured.
Australia continues to refine its regulatory approach to digital asset services, with closer alignment between AML/CTF oversight and financial services regulation.
While AFSL is an established regime under the Corporations Act, regulators are applying increasing scrutiny to how digital asset services fit within existing financial services rules, particularly in relation to custody arrangements, product classification, and consumer-facing offerings.
Businesses should plan their AFSL strategy with the expectation that regulatory standards will continue to evolve.
AFSL applications are assessed on substance, not documentation alone.
Core requirements typically include:
AFSL represents an ongoing regulatory commitment, not a one-time approval.
Whether AFSL is required, and which AFSL authorisations apply, depends on how the digital asset business model operates in practice.
For digital asset services, this typically requires a formal legal assessment of:
This assessment is usually conducted by an Australian-qualified lawyer and forms the basis for determining the correct AFSL authorisation scope, if any.
Early legal analysis helps avoid misclassification, scope gaps, and restructuring after submission.
AFSL projects are more complex and time-intensive than AUSTRAC registration.
A typical AFSL project takes around 9–12 months, depending on:
Early planning alongside AUSTRAC registration helps reduce delays and unnecessary rework.
CryptoLicense supports clients across the AFSL lifecycle, including:
Our role is to help clients approach AFSL deliberately and correctly, based on a clear understanding of regulatory scope.
If your digital asset services involve custody, investment-style features, or regulated financial products, a legal assessment of the business model should be the first step before proceeding with an AFSL application.
CryptoLicense can assist with assessing AFSL applicability and planning the appropriate licensing pathway.
Switzerland
Renowned for its strong reputation and offering the most comprehensive functionality for crypto services.
Canada
A cost-effective license to conduct both payment and crypto activities, making it attractive for new market entrants.
El Salvador
A pioneering country in the adoption of Bitcoin as legal tender, fostering crypto-friendly opportunities.
Poland
Known for a relatively easier licensing process.
Czech Republic
A growing hub for fintech innovation.
Last month, BitMEX announced that it would shut down permanently on September 23.
Around the same time, crypto data platform CryptoRank reported that at least 17 major crypto projects had shut down or entered bankruptcy since the start of 2026. Together, those projects had disclosed more than $8.9 billion in funding.
On July 24, the Office of the Comptroller of the Currency (OCC) denied Wise’s application for a US national trust bank charter, citing unresolved compliance deficiencies. Wise shares fell sharply on the news.
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We have recently written extensively about payments and compliance for tokenized US stocks. It has been a while since we returned to our core area of expertise: crypto licensing.
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