The United Kingdom is one of the most favorable countries for the innovative digital businesses, including mining, cryptocurrency exchange and electronic money transactions. The UK and the territories under the British protectorate (Isle of Man and others) are considered as a platform for blockchain startups, ICO. In the UK, Bitcoin is equated with private money. The British authorities consider crypto instruments to be a combination of numbers obtained by a mathematical calculation and do not apply the Anti-Money Laundering Act to them.
The national regulator FCA licenses the non-fiat currency exchange business, adhering to the position of the Bank of England and the authorities. They actively explore blockchain technologies, accept payment crypto-solutions as an inevitable future, and even provide blockchain startups with state support. The license for the cryptocurrency exchange in the country is issued (exchanges, exchangers, etc.), though the legislative regulation of the digital business is still in its infancy. Profit received from cryptocurrency transactions is subject to a standard capital gains taxation (VAT), as in the United States.
To license a crypto business in the UK, you need:
The legal regulatory framework is not fully formed, so entrepreneurs who are licensed to cryptocurrencies or performing ICOs are trying to protect themselves and take into account all possible requirements to the beneficiaries, founders, directors, and staff of the organization. By contacting "Prifinance", you can minimize the risks, time and money losses. Our company will help to register a legal entity, obtain a license for cryptocurrency, open an account and deploy a legal, promising business. We will select the tax model and provide an organizational and legal support.