Cryptocurrency is a kind of digital currency that is intended to act as a medium of exchange. Cryptocurrency has become popular in the last decade, in particular, with Bitcoin becoming the most widely tracked alternative currency. Typically, cryptocurrency is electronic-only and does not have a physical form – that graphic at the top of the page is just an artist’s vision of digital currency.
Advantages of Cryptocurrency:
Cryptocurrencies hold the promise of making it easier to transfer funds directly between two parties, without the need for a trusted third party like a bank or credit card company. These transfers are instead secured by the use of public keys and private keys and different forms of incentive systems, like Proof of Work or Proof of Stake.
In modern cryptocurrency systems, a user's "wallet," or account address, has a public key, while the private key is known only to the owner and is used to sign transactions. Fund transfers are completed with minimal processing fees, allowing users to avoid the steep fees charged by banks and financial institutions for wire transfers.
Our high-qualified specialists would be glad to assist you in obtaining of Crypto license of Western Sahara, SADR.
The price for Western Sahara’s Crypto license consists of several types of services:
Company registration in Western Sahara, SADR
Bank account opening assistance
Procedural rules preparation, risk assessment, KYC/AML
Timeframe
1 day
Booking the name of the company – 1 day
3-4 weeeks
Crypto license approval: upon receipt of application fee, approved application form and KYC/AML documents – varies from 3 to 4 weeks
7 days
When the funds are received and confirmed, the CRA of SADR may take 7 business days to register and notarise the license.
In order to apply for a Crypto license of SADR the following requirements need to be complied:
Name and contact details of the person responsible for the offer.
Application form including contact details of the business owner (phone number, e-mail and mailing address).
Company owner’s CV.
Address of the provision of services and website/web page address.
Name, personal code (if not available – date of birth), place of birth and residence address of the real beneficiary of the company.
Procedural rules and internal control regulations developed according to the Money Laundering and Terrorist Financing Prevention Act.
It is required for the business owner, the Board member, the real beneficiary or the proprietor to submit a statement from the penalty register in one’s country of origin or an equivalent document issued by a judicial or administrative authority confirming the absence of penalties for crimes committed against government authorities, money laundering crimes or another deliberate crimes no earlier than three months ago and certified by a notary or in another similar way and legalised or approved by the certificate replacing legalisation (Apostille), unless otherwise provided by an international treaty.
