As of April 1, 2017, the amended Payment Services Act came into effect and as of that moment operators of virtual currency exchange business are required to be registered with the Japanese Financial Services Agency.Timeframe:  Company formation - within 8 weeks License application - within 6 months Minimum capital requirement: 10 000 000 JPY (approx. EUR 75 000) + Registrat...

As of January 2018, a new regulatory framework for Distributed Ledger Technology (DLT) is becoming operational. Companies, that operate in or from Gibraltar within the field of virtual currency exchange are required to apply for DLT License under HM Government of Gibraltar.Timeframe: around 3 months Minimum paid up capital: is set on case-by-case basis Overview HM Governmen...

**Norway Financial Supervision Authority (FSA) recently announced new requirements for virtual currency exchange providers and businesses that create, store and maintain cryptographic keys.** New money laundering rules shall come into force as of October 15, 2018, and will focus on reporting companies established in Norway, including branches of foreign companies. Also, the new requirements wi...

...fied the legal framework for cryptocurrency. **The National Assembly of South Korea has passed a bill establishing a legal foundation for virtual currencies.** This is a big step toward the legitimacy of cryptocurrency in South Korea. So far virtual currency exchanges were classified as information providers so they didn’t fall under the jurisdiction of the financial regulator. The new b...