Crypto and Blockchain Asia — Licensing, Registration and Regulation
It is increasingly appealing to blockchain entrepreneurs to get a cryptocurrency permit in Asia. The East has been a wonderful place for centuries, and new technologies like blockchain and cryptocurrencies are boosting the Asian drive for business.
Many Asian countries are already on the lookout for advances in the blockchain sphere. Numerous jurisdictions are fighting to become the “Dragon of crypto”. Important efforts have been done to propose comprehensive regulations for registered businesses in the area of cryptocurrencies. Competition is fierce among the Asian crypto regulations to attract blockchain companies.
Our experts at LegalBison are following these developments carefully. We sense that Asia is once again a ground of opportunities. Countless success stories began in Asia. This is why it is capital to keep up to date with the laws and the different licensing processes in Asian countries. Understanding the rules is a key factor to develop your crypto project.
Crypto License in Singapore — Trusted and Solid
Nowadays, the cryptocurrency laws in Singapore are already famous and trusted by many entrepreneurs in Asia. A solid framework, the Singapore cryptocurrency licenses are recognized worldwide as a seal of trustworthiness and solidity. The regulation has been formulated by the Central Bank of Singapore and built upon the existing financial framework for investment and banking.
Cryptocurrency companies in Singapore are licensed to conduct a wide panel of financial services. This is the main appeal of the jurisdiction: being able to blend old school finance and banking services with the addition of cryptocurrency. Singapore is one of two jurisdictions only -with Cyprus in Europe- to regulate cryptocurrency businesses at the same level as banking and investment institutions.
The Singapore cryptocurrency tax rate is another appeal to the city-state of the Merlion. It is one of the best countries in the world for business. With a dynamic economy, incentives for new technologies, low taxation and the lowest level of corruption in the world, Singapore is a dream place to grow a company - not only in the area of cryptocurrencies.
Blockchain License in Asian Countries — Opportunities
On this page, you can notice the increasing offer in places of establishment for blockchain companies in Asia. LegalBison only lists there the regulations that are mature enough to ensure an effective rule book to follow and operate smoothly.
For cryptocurrency, Thailand is one of these jurisdictions. The Thailand cryptocurrency exchanges are benefiting from a good dynamic from the economic and legal atmosphere that favors innovative companies of the blockchain technology. In Thailand, cryptocurrency is seen as groundbreaking. Therefore, the authorities are willing to encourage the growth of an industry. The Thai license is quickly gaining reputation and recognition in the world.
Another fast developing regulation is the Philippines legal cryptocurrency framework. In the Philippines, cryptocurrency is also seen as an important improvement in financial services of all kind. This is why a Philippines cryptocurrency permit has been created by the monetary board of the Philippines’ central bank. The framework is widely trusted and now accounts for one of the highest number of licensees in Asia. It’s simple to get a blockchain license in the Philippines or also Malaysia.