Deemed licensed status is a provisional regulatory classification granted to certain entities, typically virtual asset service providers, allowing them to continue operations while their full license application is under review. This status acknowledges that an entity has met initial requirements and is proceeding towards full compliance with established regulations. It provides a temporary legal operating basis.
Context
The concept of deemed licensed status is a significant regulatory tool used by authorities to manage the transition of previously unregulated crypto businesses into a compliant framework. Its situation often involves strict conditions and reporting requirements to ensure ongoing adherence to regulatory expectations. A key debate surrounds the criteria for granting such status and the potential for regulatory loopholes or competitive disadvantages for fully licensed firms.
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