- Pass an inspection of the Cyprus Central Bank – provide a business plan on request, letters of recommendation from servicing banks, from counterparties having a confirmed reputation;
- Register an enterprise in Cyprus as a supplier of financial services – with a “physical” office, share capital and bank account for its placement;
- Hire directors with education and experience in the financial sector and full-time employees;
- Provide the regulator with documentation on the organization, written provisions for a cryptocurrency license
- Prepare technical tools for operation, for compliance with AML standards and provide the regulator with their descriptions.