Re: crypto trading business without a license

Quote from: cindygirl on December 04, 2018, 02:29:44 PM

To add further. Try reaching out to other projects and see what they have done with licensing. Many won't respond or care to share but I like to believe in human kindness.

On your point about not wanting to conduct an ICO because you don't need millions of dollars. You can do a smaller ICO with not such a large raise. Go back a few years and ICOs never raised millions of dollars like they do today. Alternatively you could seek investment through another source, that might enable you to hire a lawyer who can help expedite the process.

Thanks Cindy for your reply, it looks like most of the business that managed to get a license they did while running an ICO, I didn't ask anybody directly but that is what seems to be like the pattern, while raising funds from the ICO use the first funds received to acquire the license.

Anyways it's hard to talk to somebody involved with a similar company because they see you like a competitor, so of course it's not in their interest to help you.

I had an idea about running an ICO, but my token would be considered as security token, and according to the lawyer I asked informations to set up the ICO would have costed me something like 400k (without counting the money required for marketing).

I think I might be able to get investors, but having the platform ready and not being able to launch it because a license it kind of hurts Cry

I know there are 100's of websites that do provide trading services without being regulated or without having any license, i don't know how to do that without getting in trouble and what would be the best way to do that.

Meanwhile of course I will apply to get a license, because I want to provide to my users a service that is regulated.