European Crypto Licensing as a New Trend in 2023-2024: A Golden Ticket to the Global Market
Launching a Crypto Exchange and Wallet in the EU vs. the US: Guide by Merkeleon
NEW YORK, Nov. 7, 2023 /PRNewswire/ – As the cryptocurrency world diversifies and grows, there’s an ongoing debate between the opportunities offered by the European Union (EU) and the United States (US). The latest and most up-to-date guide dives deep into the advantages of launching a crypto exchange and opening a crypto wallet within the EU, presenting compelling reasons for enterprises to consider the region. By the end of 2023, an increasing number of companies from the US and around the world are turning to the benefits of cryptocurrency regulation offered by the EU.
The EU, distinct from its American counterpart, offers several enticing prospects:
Global scale: Any of the EU-issued crypto licenses (except for Estonia and the Czech Republic) allows one to operate a crypto exchange business worldwide, even outside the EU where there is yet no local crypto regulation in place, i.e., where crypto activity is not under ban or strictly locally regulated.
Rapid Market Entry: The EU trumps with a swift 1-2 month licensing procedure, compared to the US’s extended 6-12 months timeline.
Cost Efficiency: Depending on the country, the cost of doing business—including legal fees, salaries, and rent—may be lower than in the US.
Initial Capital Requirements: EU jurisdictions have less stringent capital requirements, making it easier for startups to enter the market: initial costs are 16 000 – 10 000$ + 35% from the 133 000 $ share capital requirement.
- In Lithuania, the corporate income tax is 5-15%, while the tax rate on dividends is fixed at 15%.
- In the Czech Republic, the corporate income tax rate is 19%. The tax rate on dividends is 15%.
- The corporate income tax rate in Poland is 9-19%. The tax rate on dividends is the same: 9-19%.
Lithuania and Poland are the most favorable countries in terms of crypto licensing ease, speed and affordability, but each country has its pros and cons.
Read the full article at the guide.
Merkeleon has been developing crypto exchange software and crypto wallet white label solutions since 2014, offering scalable one-stop turnkey solutions for crypto business.
View original content to download multimedia:https://www.prnewswire.com/news-releases/european-crypto-licensing-as-a-new-trend-in-2023-2024-a-golden-ticket-to-the-global-market-301980286.html
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Bubblear.com takes no editorial responsibility for the same.