New Cryptocurrency

[AHK84]

I am looking at launching a new Cryptocurrency and would like it to be legit, so am looking for the best jurisdiction to setup in, I was told BVI, Estonia are 2 good options am wondering if others know of anywhere else that is easy to create a company specifically to trade as cryptocurrency, preference for a company with a bank account obviously.

 

[JackAlabama]

I am looking at launching a new Cryptocurrency and would like it to be legit, so am looking for the best jurisdiction to setup in, I was told BVI, Estonia are 2 good options am wondering if others know of anywhere else that is easy to create a company specifically to trade as cryptocurrency, preference for a company with a bank account obviously.

I would first do comprehensive market research with tests to answer why the world needs yet another cryptocurrency besides the 10.000+ already existing ones and how you would gain any traction?

After that, setup your first related structure in the area where most of your target audience are located and try to get appropriate licensing. With that you even find eventual VC funding which love regulated onshore type of business especially if you are not known well.

 

[AHK84]

Thanks Jack, you would assume that I have done all the aforementioned research etc. before deciding on yet another cryptocurrency, my question was very specific to best jurisdiction to chose and why, would you be able to provide information on this subject matter please, your feedback is greatly appreciated.

 

[VESTANON]

a blueprint would be to follow behind already established crypto companies , ie Gemini, Binance, Huobi etc.. amongst the popular and regular jurisdictions
HongKong
Mauritius
US
do take note that each jurisdictions has its perks,shortcomings,loopholes etc.

whatsoever you intend to achieve longterm should be along those lines..

regardless start up with priorities such as jurisdiction, physical banking hand in hand, as well as licensing...
like a puzzle put all the pieces together.

 

[JackAlabama]

Thanks Jack, you would assume that I have done all the aforementioned research etc. before deciding on yet another cryptocurrency, my question was very specific to best jurisdiction to chose and why, would you be able to provide information on this subject matter please, your feedback is greatly appreciated.

There is no *best* country and one size fits all especially as you claim "you want it to be legit" then you have even less incentive to go with the common opaque islands etc.
Id setup shop where your initial target audience is located.

 

[uplana]

There is a lot you need to do to attract investors to your coin. I'm not aware of how many scams and unbacked crypto coins there are out there, but I do know there are thousands already.

Not saying yours is a scam, but evidence, evidence and more documentation is required.

 

[khinkali]

@AHK84 you ask a good question.

Will it be a utility token, a security, a stablecoin, or something else?

One problem people have is thinking they've issued a utility token but then some jurisdiction decides it's a security. I predict that some very strong stablecoin regulation is coming soon.

Will you be doing KYC/AML? Will you limit the jurisdictions where people can buy your tokens? Will you sell your tokens for fiat or crypto, or just give them away? Will you custody your tokens for them? Custody any other tokens or fiat?

There are probably some more issues that could affect the right jurisdiction.