Legal crypto consulting
- What is legal crypto consulting?
- Who needs legal crypto consulting?
- What is a crypto lawyer?
- How to start working in the cryptocurrency market?
- Legal support of crypto projects
- Opening a current account in cryptocurrency - necessary steps
- How can our company help?
The cryptocurrency space is becoming increasingly popular every year. This is primarily due to the fact that by correctly investing money in selected cryptocurrencies, citizens can get quick profits without much effort, which in turn significantly develops the regulation of digital assets around the world. However, various states still have ambivalent attitudes towards the virtual assets market, which in practice gives rise to difficulties in the insufficient number of legislative acts that would clearly regulate this area. Therefore, turning to specialists who provide services in the field of legal crypto consulting is more relevant today than ever.
Legal crypto consulting
What is legal crypto consulting?
Legal crypto consulting is the provision of a specific package of consulting services on a wide range of issues in the field of both corporate and tax legislation around the world. That is, the activities of a crypto consulting specialist are directly related to providing legal support to the company, resolving crypto disputes, analyzing compliance with the legal requirements of the legislation of the host country and providing recommendations for improving the current documentation of private businesses, etc.
Thus, we can say that the main goal of legal crypto consulting is a detailed analysis of crypto projects, preparation of the necessary papers, support of solutions and their integration into the business structure of the client’s company, thanks to the acquired practical experience of a cryptocurrency specialist.
Who needs legal crypto consulting?
- Citizens who are going to invest a significant amount of money in cryptocurrencies. To assess the potential risks of investing in digital assets and choosing the appropriate investment strategy, citizens can contact crypto consultants who will provide answers to all questions in the field of cryptocurrencies.
- Private entrepreneurs and start-ups. Legal support for crypto startups is always necessary in order to minimize the failure of one’s own business idea in practice, because startups constantly pose the threat that the funds invested in it will be lost.
- Large corporations. Large companies that have a significant number of employees and want to enter the digital asset market to be able to use blockchain technologies and buy and sell cryptocurrency can turn to crypto consultants for help in a detailed explanation of the legal mechanism for regulating cryptocurrencies in different countries of the world.
- Software developers. Individuals who independently develop software and want to enter the economic market in the field of virtual currencies usually turn to specialists providing crypto-consulting services, because with their help they can understand all the legal nuances of legislative regulation in the territory of the host country where they plan to do business.
What is a crypto lawyer?
A crypto lawyer is a person who has a thorough understanding of legal issues related to cryptocurrencies, blockchain technologies and their legislative regulation.
That is, we can say that a crypto-lawyer understands not only narrow-profile issues of a particular type of law, but also has knowledge about the practical functioning of the fintech industry as a whole, since he:
- has extensive knowledge of legal regulation, regulatory frameworks for business interaction with blockchain projects and knows how to use crypto market tools;
- has the skills to protect the rights and interests of clients in any legal cases, and also understands how mining, smart contracts and other aspects of the cryptocurrency sector operate;
- can successfully work in the Crypto Legals sector and provide legal support to virtual businesses.
- knows how digital activities are regulated in criminal and civil law;
- has the ability to identify and reduce risks of various types (for example, loss of business or a significant part of its own assets).
It's important! By contacting a qualified crypto lawyer in a timely manner, you will avoid any fraudulent actions on the part of counterparties and other unscrupulous companies, and you will also not become a victim of your own incompetence in the field of digital assets.
How to start working in the cryptocurrency market?
- Select the type of legal entity and register the company. In order to start conducting business activities in any legal state in the world, you first need to register a legal company in accordance with local legislation in the territory of your country of residence. To do this, you need to select the type of legal entity (for example, Sp. z o.o. in Poland) and obtain the necessary documents for its registration.
- Get a crypto license. Today, legal states require legal entities to obtain various crypto licenses to carry out their business activities on the territory of the host country. Because then such activities will be considered legitimate and carried out within the framework of the law.
- Follow AML and KYC compliance. To ensure data confidentiality, verify the legality of payments made, prevent and combat money laundering, and terrorist financing, legal companies working in the field of digital assets must comply with AML and KYC compliance.
- Make tax payments. When carrying out any business activity in the field of virtual assets, law firms are required to pay taxes to the resident country where they conduct their business.
- Fulfill obligations from national regulators. Maintain accounting records and submit annual, monthly and quarterly reports, as well as fulfill other obligations of national regulators.
- Fulfill obligations to the company's clients. This primarily means explaining all the services provided by the company, as well as ensuring their efficiency and transparency between clients.
Legal support of crypto projects
- Registration of a crypto exchanger. Today, a crypto exchanger allows you to perform various financial transactions with cryptocurrency, which in turn makes it attractive for receiving in practice. However, before thinking about obtaining a license for a crypto exchanger, you need to consult in detail with crypto specialists regarding legislative regulation and the real possibilities of its registration in the host country. This will help you analyze your project and choose the most suitable state to launch a cryptocurrency exchange platform in.
- Support of ICO projects. ICO consulting is required in the following cases: choosing a jurisdiction for conducting an ICO, familiarizing yourself with the requirements; choosing a bank and opening a cryptocurrency current account; development of technical documentation and White Paper; registration of a legal entity; control over compliance with the laws of the jurisdiction; appealing in court illegal decisions of regulatory authorities.
- Registration of a crypto fund. A crypto fund is an investment vehicle that gives investors access to digital currencies and other assets in the cryptocurrency space. These funds act as intermediaries between investors and traders of virtual currencies, helping them make profits. However, in order to register a crypto fund, you need to get an initial consultation from a crypto lawyer on: all legal aspects of the creation and operation of a crypto fund; clarifying all the necessary documents for registering a crypto fund (charter, agreements with investors, fund management rules, etc.); obtaining crypto licenses for the possibility of carrying out the activities of a crypto fund; development of the company's privacy policy, implementation of compliance with the principles AML and KYC compliance.
- Tokenization support. Typically carried out as follows: project analysis; choice of jurisdiction; consulting services of specialists on the regulation of ICOs and cryptocurrencies; preparation of technical documentation, policies and agreements; obtaining licenses; opening a cryptocurrency current account in the selected bank.
It's important! The consulting company Jurisprudential Ltd also provides legal support for FinTech projects, which allows it to provide a wide range of services, including resolving legal issues, regulatory support and consulting on the implementation and operation of FinTech innovations.
Opening a current account in cryptocurrency - necessary steps
- Conducting platform selection. Choose a reliable crypto exchange (Binance, Whitebit) or crypto bank (Crypterium, Saifu, Wirex) that provides checking account services.
- Account registration. Register your account on the chosen platform or in a crypto bank, providing personal information, go through verification if necessary.
- Cryptocurrency selection: Determine which cryptocurrency you want to use for payments - USDT, ETH, BNB, etc.
- Refill: Fund your account using fiat money (local currency) or other cryptocurrency.
- Manage your account: Once you fund your account, you will be able to make cryptocurrency transactions and other financial payments.
It's important! Popular banks that accept cryptocurrency today are BankProv, WirexApp, Revolut, Changeinvest, USAA, Binance, Coinbase and many others.
How can our company help?
Legal crypto consulting
Specialists from the consulting company Jurisprudential Ltd provide a wide range of services, namely:
- assistance in choosing the most profitable jurisdiction for carrying out business activities in the field of cryptocurrencies;
- preparation of all necessary documents for registration of a crypto company, crypto fund, etc.;
- development and effective implementation of AML and KYC compliance for business partners;
- assistance in opening a current account in a banking institution or on a crypto platform;
- obtaining licenses to carry out business activities in the field of cryptocurrencies;
- preparing financial statements and conducting audits for the company;
- providing full legal support for blockchain and fintech projects.