A licensing requirement mandates that entities offering specific services obtain official authorization from a regulatory body before operating. In the digital asset sector, this applies to cryptocurrency exchanges, custodians, and other service providers. These licenses typically impose conditions related to capital, security, and anti-money laundering compliance.
Context
News often reports on new or updated licensing requirements as jurisdictions worldwide seek to regulate the digital asset industry. Compliance with these regulations is a significant operational challenge and cost for crypto businesses. The stringency of licensing can influence market entry and the availability of services in different regions.
Firms must immediately integrate global operations into the domestic DTSP licensing framework to mitigate criminal penalties and arbitrage risk by June 30.
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