If you are considering starting your own Forex brokerage, obtaining a Forex license is one of the first things you should consider in order to legitimize your business. In this article, we will consider the advantages of the following jurisdictions for obtaining a Forex brokerage license in 2021: Cyprus, The United Kingdom, Vanuatu and Malta.…
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The U.S. Office of the Comptroller of the Currency (OCC) issued an approval for Anchorage Digital Bank to become the first federally-chartered crypto bank. Anchorage is focused on forming partnerships with other banks to allow relevant partner banks to offer digital asset services to their customers. The OCC has now issued three interpretative letters that…
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Deoffshorization is spreading rapidly around the world. Many countries are currently fighting against money laundering and introduce restrictions on operations from offshore jurisdictions in order to provide economic security and stability and transparency of the public financial sector. The attention of the banks is now focused on the activities of the company and availability of…
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One of the most important tasks for successful business structuring is choosing an appropriate jurisdiction in terms of tax planning. Currently many countries are interested in attracting high-tech companies in knowledge-intensive sectors of the economy that develop and use intellectual property objects in their activities. Tax legislators struggle to tax income from intangible assets in…
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If you are tired of imperfect services of banks and payment systems and you know how to provide them better, it is time to make your own payment system. If don’t know how and where to start your payment business, we will help you. Hong Kong offers opportunities for those who would like to provide…
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After several attempts, the Estonian Parliament has adopted and the President has signed amendments to the Money Laundering and Terrorist Financing Prevention Act and the State Fees Act. What do the adopted amendments mean for cryptocurrency activities regulation in Estonia? Significant changes relate to the conversion of two crypto licenses into one, the mandatory existence…
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The transitional period allotted to the EU Member States according to the Fifth Directive of the European Parliament and the Council on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (hereinafter – the 5th AML Directive) is coming to an end. The deadline for the…
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Following Facebook, which has recently announced the launch of Facebook Pay, a unified online payment system for Facebook, Instagram, Messenger and WhatsApp, which will be available so far only in the United States, the digital giant Google announced a new project. The essence of the new Google project The new brainchild of Google is called…
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No sooner had the financial world moved away from the news about the suspension of the activities of AS “PNB Banka” (formerly known as Norvik banka) than it was stirred up by news of the imposition by the Bank of Lithuania of a fine on a payment service providers MisterTango, UAB. Let’s consider the details. Why…
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