Open a offshore company for cryptocurrency descentralized exchange like pancake swap

[nt2065]

I have a project of cryptocurrency descentralized exchange similar to pancake swap and I want know I what country should I incorporate for this type of business and how to open a bank account don't need be a bank can be a emi.
And is possible to run two crypto descentralized exchange under the same company like today I develop a cryptocurrency descentralized exchange but in the future I want develop other project similar.

 

[CaptK]

The whole point of decentralisation is to not need banks.
So you don't need to register the company and don't need a bank account.

 

[369]

don't need to register a company 🙂 haha these times are ending for dex'es which are not fully run by community and even there people who make it possible that a dex function will be hold responsible based on SEC

 

[CaptK]

369 said:
don't need to register a company 🙂 haha these times are ending for dex'es which are not fully run by community and even there people who make it possible that a dex function will be hold responsible based on SEC
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Only an issue for American guys, the rest of the civilized world is doing without the BS.

 

[369]

CaptK said:
Only an issue for American guys, the rest of the civilized world is doing without the BS.
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So how do you know no US people are using your dex ?
Also its not just US its now US,China,Malaysia,Sinagpore and the list goes longer.

 

[CaptK]

You are a DEX (Decentralised like UniSwap) not a CEX (Centralised like Binance).

If you want to take fiat then you are centralised which means you need licence and AML headache.

As a DEX you can register a company anywhere you want and don't need a licence except UAE. Anything crypto related requires a licence.

 

[Jerry1911]

nt2065 said:
I have a project of cryptocurrency descentralized exchange similar to pancake swap and I want know I what country should I incorporate for this type of business and how to open a bank account don't need be a bank can be a emi.
And is possible to run two crypto descentralized exchange under the same company like today I develop a cryptocurrency descentralized exchange but in the future I want develop other project similar.
Click to expand...

Host it on Tor. In case you need to shut it down, post the code online (open-source it). In fact, that might even be overkill - there are exchanges like TradeOgre which are hosted on clearnet and are (still) working fine.

 

[369]

CaptK said:
You are a DEX (Decentralised like UniSwap) not a CEX (Centralised like Binance).

If you want to take fiat then you are centralised which means you need licence and AML headache.

As a DEX you can register a company anywhere you want and don't need a licence except UAE. Anything crypto related requires a licence.
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Thats not correct.As DEX operator or anyone who made it possible if there is no offical operator is hold responsible under SEC and it's not important if your DEX offers a fiat gateway or not

 

[nt2065]

nt2065 said:
I have a project of cryptocurrency descentralized exchange similar to pancake swap and I want know I what country should I incorporate for this type of business and how to open a bank account don't need be a bank can be a emi.
And is possible to run two crypto descentralized exchange under the same company like today I develop a cryptocurrency descentralized exchange but in the future I want develop other project similar.
Click to expand...

I think no one understand exactly what I want I need a offshore company for if the token I created based on my dex increased in value I can sell and receive money.

 

[nt2065]

nt2065 said:
I have a project of cryptocurrency descentralized exchange similar to pancake swap and I want know I what country should I incorporate for this type of business and how to open a bank account don't need be a bank can be a emi.
And is possible to run two crypto descentralized exchange under the same company like today I develop a cryptocurrency descentralized exchange but in the future I want develop other project similar.
Click to expand...

CaptK said:
The whole point of decentralisation is to not need banks.
So you don't need to register the company and don't need a bank account.
Click to expand...

Buy who I will receive the money I made with my own token without a bank?

 

[nt2065]

CaptK said:
You are a DEX (Decentralised like UniSwap) not a CEX (Centralised like Binance).

If you want to take fiat then you are centralised which means you need licence and AML headache.

As a DEX you can register a company anywhere you want and don't need a licence except UAE. Anything crypto related requires a licence.
Click to expand...

I don't want take fiat but I want a company for sell the token I made for my exchange if the dex is successful the token will increase the value and I will sell for make money.

 

[nt2065]

MelissaOU said:
It's so funny. RTFM.
Decentralization and bank account. Get out of here.
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But if my dex is successful I will have a large amount of the tokens I created and I will sell my tokens for make money I don't see nothing wrong in my idea.

 

[nt2065]

MelissaOU said:
Nah, you'll be selling them for USDT or other stables. Then you can sell them for fiat yourself, but that's your problem! And not the exchange. You are contradicting the principles of DEX by creating a bank account for this.
Look at how PancakeSwap works, for example.
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Ok but when I sell for fiat I need have tho explain to the bank how I make this money so I think will be a problem if I have like 2 million dollars in my token for sell.

 

[nt2065]

MelissaOU said:
Nah, you'll be selling them for USDT or other stables. Then you can sell them for fiat yourself, but that's your problem! And not the exchange. You are contradicting the principles of DEX by creating a bank account for this.
Look at how PancakeSwap works, for example.
Click to expand...

The idea is not a offshore company exactly for the exchange but it's more like a offshore company that can hold my own created coins and sell if they value increase.

 

[369]

nt2065 said:
The idea is not a offshore company exactly for the exchange but it's more like a offshore company that can hold my own created coins and sell if they value increase.
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more important is how you are going to sell your tokens because most governments have already strict regulations implemented for it

 

[EuroKiss]

nt2065 said:
The idea is not a offshore company exactly for the exchange but it's more like a offshore company that can hold my own created coins and sell if they value increase.
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A DEX has no company attached. Once you issue your tokens, you create a pool and swap with other tokens/coins, eventually stablecoins.
Crypto can be used to buy “things” like homes, cars, etc, so no need to convert them to fiat.
In case you want some in fiat, send them to your own wallet and sell through P2P.
Why bothering with a company formation?

 

[369]

My language is accurate.Giving such stupid advice could lead OP into big trouble.If you have no understanding in running a DEX and a token offering i would recommend to not reply your obsolete knowledge which is from before mid 2021

 

[Risehigh]

CaptK said:
Only an issue for American guys, the rest of the civilized world is doing without the BS.
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Not rly, all bigger euro countries have own finance product regulatory agencies. (Never said they work good, just saying "Wirecard" lol)

Oh sorry you said civilized, right.

 

[EuroKiss]

369 said:
My language is accurate.Giving such stupid advice could lead OP into big trouble.If you have no understanding in running a DEX and a token offering i would recommend to not reply your obsolete knowledge which is from before mid 2021
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Sushiswap is the third DEX in the World, and completely anonymous like a good bunch of others swaps; evidently you have no clue how the crypto world works - and reading the EU thread pretty much you have no clue how the world in general works too - so better stay away from all this stuff kid or you risk burnings your wings.

 

[369]

I worked on the first ever DEX in history which was created in 2014 and was a TOP3 coin in CMC.
I was there as committe and biggest proxy which mean decission maker till 2020.
So i guess my knowledge to DEX'es are far better than yours will ever be

Also your example on Sushiswap leaks big time.I recommend looking when they started and if todays regulation existed.
A token which was under law not a security token in 2020 as example falls today as security and totaly other laws apply even the token may have the same function

More recently, de facto ownership of SushiSwap was passed to Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading startup Alameda Research.
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So much about being decentralized

Last edited: Nov 6, 2021