The world-renowned digital currency trading licenses have their own characteristics. The US MSB license is issued by FinCEN, which is common and has easy application, low cost, and regulates transactions and other businesses. BitLicense, New York, has extremely strict supervision and covers all aspects of the business. Singapore MAS licenses are divided into SPI and MPI, and payment business is regulated based on scale. Swiss VQF, Estonian MTR, Australian AUSTRAC and Japanese JVCEA licenses strictly regulate monetary business in terms of information security, anti-terrorism financing, fund protection, etc.

1. US MSB license
   • Authority : US Treasury Department of Financial Crime Enforcement Network (FinCEN).
   • Features : It is one of the most common digital currency licenses in the United States, with high popularity, relatively simple application process, and relatively low cost. It requires digital currency-related companies to comply with regulations such as anti-money (AML) and Know Your Customer (KYC), and mainly supervise the transaction, exchange, issuance and other businesses of digital currency.
2. BitLicense, New York, USA
   • Authority : New York State Department of Financial Services (NYDFS).
   • Features : It is considered to be one of the most strictly regulated digital currency licenses in the United States. It has detailed and strict regulations on the capital requirements, risk control, user protection of digital currency enterprises, covering all aspects of digital currency business, including transaction platform operation, money storage services, payment processing, etc. Due to its strict regulatory requirements, companies that obtain this license have high credibility in compliance.
3. Singapore MAS License
   • Authority : Monetary Authority of Singapore (MAS).
   • Features : It has a high popularity and influence in Asia. MAS licenses are divided into standard payment agency licenses (SPI) and large payment agency licenses (MPI), and are classified and supervised according to the business scale and scope of the enterprise. The license has a relatively detailed supervision of digital currency payment business, requiring licensed institutions to have a complete risk management system, anti-washing measures and customer fund protection mechanism, which will help improve the security and stability of digital currency transactions.
4. Swiss VQF license
   • Authority : VQF (Swiss Anti-Law Association), a self-regulatory organization authorized by the Swiss Financial Market Supervision Authority (FINMA).
   • Features : Switzerland is known for its friendly attitude towards blockchain and digital currencies, and the VQF license has a high recognition in the digital currency field. Companies that obtain this license need to comply with Swiss backwash regulations and financial regulatory requirements, and at the same time meet a series of standards set by VQF, including corporate governance, risk management, customer identity identification and other requirements. This gives digital currency companies holding VQF licenses a certain competitive advantage in the European and even global markets.
5. Estonia MTR license
   • Authority : Estonian Financial Regulatory Authority (FIU).
   • Features : Estonia is one of the earliest countries in Europe to legislate digital currencies, and its MTR license includes digital currency storage service license and digital currency trading license. This license requires enterprises to have strict KYC and AML procedures and a sound information security management system. Estonia's digital currency license has certain universality within the EU, and companies that obtain this license can conduct digital currency-related business in EU member states more conveniently.
6. Australian AUSTRAC license
   • Authority : Australian Transaction Reporting and Analysis Centre (AUSTRAC).
   • Features : Australia has strict supervision of digital currencies. The AUSTRAC license requires digital currency trading platforms to comply with anti-laundering and anti-terrorism financing regulations, and has strict regulations on customer identity identification and transaction record preservation. Companies that obtain this license need to regularly report relevant transaction information to AUSTRAC to ensure the legality and transparency of digital currency transactions.
7. Japanese JVCEA license
   • Issuing institution : Japan Virtual Currency Trading Association (JVCEA) authorized by the Japan Financial Agency (FSA).
   • Features : Japan is one of the earliest countries in the world to legally regulate digital currencies, and the JVCEA license has high authority. Digital currency trading platforms that obtain this license must comply with Japan's "Payment Services Law" and relevant regulatory requirements, and have strict regulations on customer fund protection, transaction security guarantee, and backwashing. This will help ensure the stable and healthy development of Japan's domestic digital currency trading market.

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