Best Jurisdictions for Crypto Operations 2024

[Billybob69]

Hello people,

There's no doubt about it, crypto is back, yet I have not found much discussion on this forum about operating crypto based businesses, most people only seem invested in crypto on a personal level. Regulations are getting tougher and tougher on crypto based businesses, but I'm hoping together we can find jurisdictions that are still straight forward for more simple operations such as utility token issuance and NFT sales. ICOs, crypto exchanges, security tokens and DAO tokens seem to come with much more cumbersome regulations.

Jurisdictions like Panama, Belize and Dominican Republic still do not have regulations for crypto currency, so would a jurisdiction like this be considered a good option? How about opening an EMI account, wise seems to no longer be opening accounts for any of these types of jurisdiction.

Any information others have to share is appreciated.

 

[wellington]

Billybob69 said:
Hello people,

There's no doubt about it, crypto is back, yet I have not found much discussion on this forum about operating crypto based businesses, most people only seem invested in crypto on a personal level. Regulations are getting tougher and tougher on crypto based businesses, but I'm hoping together we can find jurisdictions that are still straight forward for more simple operations such as utility token issuance and NFT sales. ICOs, crypto exchanges, security tokens and DAO tokens seem to come with much more cumbersome regulations.

Jurisdictions like Panama, Belize and Dominican Republic still do not have regulations for crypto currency, so would a jurisdiction like this be considered a good option? How about opening an EMI account, wise seems to no longer be opening accounts for any of these types of jurisdiction.

Any information others have to share is appreciated.
Click to expand...

Most of these locations are irrelevant - it's based on where your end users are that dictate the laws you follow - for example the US has no qualms of extraterritorial cases.

So the only feature to offshore is tax and if you are actually based in the location”¦

 

[Billybob69]

wellington said:
Most of these locations are irrelevant - it's based on where your end users are that dictate the laws you follow - for example the US has no qualms of extraterritorial cases.

So the only feature to offshore is tax and if you are actually based in the location”¦
Click to expand...

So... RIP to any crypto companies?

I am of a pretty similar opinion, yet seems to be lots of them running around, just a ticking timebomb?

 

[wellington]

Billybob69 said:
So... RIP to any crypto companies?

I am of a pretty similar opinion, yet seems to be lots of them running around, just a ticking timebomb?
Click to expand...

Whack ah mole

It's like a DDOS attack

Probably why it will survive.

 

[jafo]

Billybob69 said:
So... RIP to any crypto companies?

I am of a pretty similar opinion, yet seems to be lots of them running around, just a ticking timebomb?
Click to expand...

Crypto exchanges are ALIVE & WELL...for people like Tyler & Cameron Winklevoss of Buy, Sell & Trade Bitcoin & Other Crypto Currencies with Gemini's Platform | Gemini

For the rest of us? Not a f*cking chance! hi%#

 

[JohnLocke]

If you have good starting capital and a strong team, then nothing is impossible to establish, and I would go for Switzerland, which remains one of the destinations for crypto-related business.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[TheCryptoAnt]

Billybob69 said:
Any information others have to share is appreciated.
Click to expand...

Depends; what are these 'operations' about?

Fund management? Blockchain development? DeFI aggregator? other?

 

[Billybob69]

TheCryptoAnt said:
Depends; what are these 'operations' about?

Fund management? Blockchain development? DeFI aggregator? other?
Click to expand...

I mean more straightforward things like: issuing and selling NFTs, issuing and selling a utility token, meme coin, etc

 

[khinkali]

Billybob69 said:
I'm hoping together we can find jurisdictions that are still straight forward for more simple operations such as utility token issuance and NFT sales
Click to expand...

It is getting harder for fungible tokens and the choices are getting more limited.

A few days ago the Government of Armenia approved a bill "exclusively introducing non-cash transactions for crypto asset operations", whatever that means. Also the Central Bank of Armenia is going to propose regulations similar to the EU's MiCA so it won't continue to be as easy as it has been.

A Crypto assets Market Law (MECA) was proposed in Costa Rica over a year ago, but I don't know if that's been passed.

Anyone know some other places where it's still legal to launch a token?

NFTs seem to be excluded from the regulation in a lot of places.

As has been noted it's not only about where you are but where the buyers are along with such things as whether you do custody at any point and whether you do any "marketing" (which can have very broad interpretation such as having a website).

 

[TheCryptoAnt]

Billybob69 said:
I mean more straightforward things like: issuing and selling NFTs, issuing and selling a utility token, meme coin, etc
Click to expand...

all these activities open the doors for potential lawsuits if the projects go to 0, get hacked, blah blah so go for a place that doesnt give much of a damn about it.

SVG comes to mind, but Belize and Seychelles will work too.

if you want back accounts you are mostly out of luck unless you can put some money on the table.