Obtaining a crypto license is not simply a regulatory formality. The jurisdiction selected can influence a company’s banking options, investor confidence, access to international markets, compliance costs, taxation and long-term business strategy. For this reason, entrepreneurs should evaluate the regulatory environment alongside their commercial objectives before deciding where to establish their crypto business.

There is no single jurisdiction that is ideal for every crypto company. A crypto exchange targeting European customers will have different requirements from a blockchain investment platform, OTC trading business or digital-asset custody provider. Among the jurisdictions that continue to attract international crypto businesses,…