Probably very difficult to obtain the necessary licenses to start the work of the exchanger ...
I do not know about the complexity, but that's definitely expensive! But I think that the guys will have the opportunity to pay the bill for obtaining a license. This is quite realistic)
I think that there are not such huge amounts, such as for listing on exchangers. I read a summary of Lobstex on Medium. I'm just shocked how much money they want for listing the koin on the stock exchange.
Yes, these are incredibly huge sums. I think that for such money you can buy something more effective.