What are crypto licenses? Why does a crypto business require a crypto license?
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Crypto licenses are legal documents that allow businesses to deal in crypto-related activities. Thus, a crypto business requires a license to conduct crypto operations in the crypto market in a specific country. Additionally, it can be a requirement by the regulatory bodies in your country, meaning that you need it for legal compliance, thus preventing any legal action that can be taken against your crypto business such as fines or closure. Notably, this license is proof that your business is law-abiding. Nonetheless, your crypto business requires a crypto license to make it trustworthy and credible before the eyes of the customers. They will be convinced your business will protect their assets.