A licensing framework is a structured set of rules, requirements, and procedures that entities must follow to obtain official permission to operate a specific type of business. For digital asset firms, this framework outlines the conditions for offering services like trading, custody, or lending. It establishes regulatory boundaries.
Context
The development and implementation of licensing frameworks are consistently reported in crypto news, as jurisdictions globally strive to regulate the digital asset industry. These frameworks aim to provide legal clarity, protect consumers, and prevent illicit financial activities. The specifics of each nation’s approach often influence where crypto businesses choose to operate.
State action formalizes kiosk compliance, requiring operators to integrate robust AML/fraud controls and secure a $500K surety bond to mitigate consumer risk.
Singapore's new DTSP framework mandates licensing for all locally-based digital asset firms, including those serving only overseas clients, to mitigate global illicit finance risks.
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