The cryptocurrency ecosystem is constantly expanding, encompassing numerous stakeholders, companies, and regulatory bodies. Naturally, this has spawned a range of complex legal issues and dilemmas, spanning regulation and enforcement, compliance, corporate law, taxation, money laundering, and many other industry-specific principles. Moreover, cryptocurrencies, along with many associated aspects, remain inadequately regulated in numerous jurisdictions.
To register a cryptocurrency company and commence crypto activities, it is crucial to consider numerous nuances. Therefore, at the initial stages of launching a cryptocurrency enterprise, it is important to seek professional guidance for blockchain project support.
Why is legal support for projects related to cryptocurrencies important?
Distributed ledger technology (DLT), widely known as blockchain technology, is triggering a new wave of innovation across various industries. Blockchain has the potential to streamline enterprise operations by enhancing reliability, security, and transaction approval speed through decentralized processes. Many consider this technology to be one of the most significant digital innovations, capable of radically simplifying business operations among multiple stakeholders. However, there remain several regulatory and legal challenges that must be overcome for its implementation. We provide support for cryptocurrency projects, through which these aforementioned dilemmas can be addressed.
Currently, there is no unified global approach to regulating cryptocurrency activities. Countries have divided into 3 categories:
- countries that are developing and implementing cryptocurrency regulation;
- countries that prohibit the use of virtual assets on the territory of their country;
- countries that do not prohibit this type of activity, but also do not put forward certain requirements.
The key features of blockchain technology, such as the ability to record and store information in distributed databases, immutability, and the capacity to eliminate intermediaries, render it attractive to numerous industries. Specifically, launching a cryptocurrency company can prove beneficial for:
- financial services (for example, assistance in preparing reports after a transaction);
- logistics (for example, optimizing the supply chain by sharing a single database for tracking product information with multiple stakeholders).
Each sphere of activity has its own specifics, making it difficult to navigate independently. Therefore, YB Case specialists provide a full range of services for supporting blockchain projects, encompassing both business and regulatory aspects.
Legal support for ICO and blockchain projects
We assist in identifying and assessing regulatory risks associated with your project, determining the optimal business conduct considering legal and economic risks, and implementing the selected legal framework for project operations in the shortest possible time frame.
In the realm of virtual currencies, understanding not only technological aspects but also legal ones is crucial. Therefore, legal support of business in the blockchain and ICO sphere is a significant process.
Cryptocurrency services
Some of the services we provide to this industry include:
- Corporate structuring of crypto firms: creation of crypto companies in different parts of the world.
- Help in launching a blockchain project.
- Support in opening accounts for cryptocurrency companies.
- Consulting on smart contracts.
- Regulation and licensing requirements related to cryptocurrencies.
- Consultations on compliance with legislation in the cryptocurrency field.
- Advising on compliance with AML/CFT policies.
- Consultations on conducting cryptocurrency transactions.
- Consulting in the field of crypto startups.
- Planning and implementation of blockchain projects.
- Consultations for entrepreneurs who want to accept cryptocurrencies as a payment method.
- Assistance in obtaining cryptocurrency licenses.
- Preparation and negotiations on registration applications and other documents with regulators.
- Advising on the latest changes in the regulatory framework regarding cryptocurrencies in different countries.
- Consultations on the creation of cryptocurrency exchanges.
We offer an individual solution for each of our clients. We also constantly monitor regulatory updates and stay abreast of innovations.
Conclusion
With each passing day, the sphere of projects related to cryptocurrencies and blockchain technologies is increasingly active. Consequently, it is crucial for cryptocurrency and blockchain companies, as well as individuals involved in this sector, to engage experienced professionals knowledgeable not only in the industry but also in the associated technology. Blockchain development unveils new business opportunities globally. Yet, alongside numerous technical and operational challenges tied to this technology, complex legal questions persist regarding how blockchain can be applied within existing regulatory frameworks and the legal ramifications of altering business practices to harness its advantages.
If you have decided to launch an ICO company, it is crucial to determine the jurisdiction where authorization will take place. Currently, there is no universally accepted regulatory policy in this sector. Consequently, countries can be categorized into three groups:
- those that prohibit crypto activities;
- those that regulate this area;
- those that prohibit the conduct of cryptocurrency activities on their territory.
To fully grasp all nuances and determine a suitable country to launch an ICO project, it is advisable to enlist the support of specialists who can provide guidance on blockchain project management. You can take advantage of the opportunity to arrange a consultation on legal aspects of ICOs with our experts.
