Is it legal? Yes. Do you need other credentials or licenses? Also, yes. Any time you’re taking the money of people who would be your customers or clients and invest it on their behalf, you have specific legal obligations. You’re going to need a financial securities license. There are several financial securities licenses. FINRA (Financial Industry Regulatory Authority) oversees licensing requirement processes and procedures when it comes to securities (money of any kind). North American Securities Administrators Association (NASAA) oversees three licenses as well. You’re going to need to take the proper tests in order to get the right license.
To determine which type of license you need, you’re going to need to do some research.regarding licensure and other cryptocurrency concerns. This legal blog brings up another good point to consider: your state. In California and in New York (as examples), there are specific laws related to cryptocurrency investing. You definitely need to look into your state laws.
To protect your business, it may be a good idea for you to consult with a business attorney who is familiar with cryptocurrency investing.has experienced attorneys who have worked in the cryptocurrency / blockchain space in the past. We offer things like start to finish project management, transparent flat-fee pricing and a satisfaction guarantee.