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Blog

Crypto License

13 minutes

Study: Thinking a CASP License Covers Payments, Perps or Futures is a Major Mistake

Most founders pursuing a MiCA license assume they are solving their EU regulatory problem. They are solving part of it. The rest depends on which services they actually offer.

Aaron Glauberman Partner at LegalBison

Sabir Alijev Partner at LegalBison

Viktor Juskin Partner at LegalBison

Crypto License

13 minutes

Hong Kong Crypto Exchange License: The SFC VASP Regime Explained for 2026

If you’re running a centralised crypto exchange and you’ve got Hong Kong retail users on your platform, you need a VASP license. Not a best-practice recommendation. A legal requirement, mandatory since June 2023, with criminal penalties for non-compliance: up to five years imprisonment and a HKD 5 million fine under the Anti-Money Laundering and Counter-Terrorist […]

Crypto License

13 minutes

Do You Need a Crypto License? When Licensing Is Legally Required by Activity and Country (2026)

Two variables determine whether your crypto business model requires a license: what it does, and where it operates or acquires customers. Most founders assess one and skip the other. That gap is where enforcement risk lives. A model that sits outside regulated activity in one jurisdiction may trigger full VASP authorization in another. And a […]

Crypto License

13 minutes

Crypto Exchange Licensing in Practice: What Founders Get Wrong (And What Actually Works)

Most crypto exchange licensing delays and failures trace back to the same origin: the application was submitted before the business model architecture was fully mapped. The regulatory documentation is not the hard part. The hard part is the analysis that has to happen before any document is prepared. Founders who understand this produce applications that […]

Crypto License

13 minutes

Study: Why the Regulator Sees Your Compliance Team as a Single Brain

The organizational chart with the right job titles will not get a CASP license approved. What the regulator is assessing is a compliance architecture: documented independence, collective expertise across three distinct knowledge domains, and real institutional substance.

Aaron Glauberman Partner at LegalBison

Sabir Alijev Partner at LegalBison

Viktor Juskin Partner at LegalBison

Crypto License

13 minutes

Study: “We Are DeFi, So MiCA Does Not Apply to Us”. EBA and ESMA Disagree.

Regulators assess who actually wields operational control, not what a project calls itself. The fully decentralised exemption under MiCA is exceptionally narrow, and the substance-over-form test has material consequences for most DeFi teams building for European markets.

Aaron Glauberman Partner at LegalBison

Sabir Alijev Partner at LegalBison

Viktor Juskin Partner at LegalBison

Crypto License

13 minutes

Bank Account for a Crypto Exchange: Which Jurisdictions Actually Deliver Banking Access (2026)

A crypto license that cannot produce a corporate bank account is operationally incomplete for any exchange handling fiat currency. The license is the regulatory authorization. Banking access is the infrastructure that makes the business function. These are related but not the same thing, and this distinction is one of the most consistently underestimated challenges in […]

Crypto License

13 minutes

Study: “We Have an EU Office” Is Not Enough: Here’s What MiCA Regulators Actually Want to See

You have the entity. You have the address. You even have the capital. So why is the regulator still not satisfied? Because under MiCA, substance is an empirical test of whether your business genuinely operates from within the EU, and most applicants underestimate what that actually demands.

Krystian Lapka Lawyer at LegalBison

Aaron Glauberman Partner at LegalBison

Sabir Alijev Partner at LegalBison

Viktor Juskin Partner at LegalBison

Gambling License

13 minutes

Why an EU License Doesn’t Guarantee Cross-Border Access (and what it means for Operators)

A valid EU gaming license does not mean open access across all Member States. A recent Court of Justice ruling confirms that national restrictions can override home-state authorization, exposing operators to consumer restitution claims they may not have anticipated. The jurisdictional and liability picture is more intricate than most assume.

Krystian Lapka Lawyer at LegalBison

Gambling License

13 minutes

How to Choose the Right Gambling License Jurisdiction for Your Business

A detailed license comparison to help iGaming operators choose the right gambling license based on target markets, budget, banking access, and corporate taxes.

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