Hello,

I am trying to get an idea about opening a new exchange. I read that there are certain procedures to get approval, with fees, for individual countries. Read somewhere that to allow exchange operate in Japan, one needs to pay a fees of around $100k. Does it mean, if that exchange has to operate in 20 countries, will it be needed to pay such a huge fees ?
I tried finding this information online, but I couldn't find this data for individual countries.
Any tips ?

Thanks