Case: Obtaining a license to promote a cryptocurrency exchange in social networks
Customer pain?
It is impossible to run ads on Google and Facebook without complying with the requirements of these platforms. The problem is that you can only get permission to display ads if the license for crypto activities is obtained in certain jurisdictions.
What kind of request did the client come with?
The client has a crypto exchange in Ukraine. The client needs advertising in Google and Meta to attract customers. In order for it to be approved and not blocked, it is necessary to provide documents confirming the presence of a license. This type of activity requires additional requirements to run advertising.
Why would he not want or be able to realize the task himself?
The client already has a Czech VASP license, but the Czech Republic is not on the list of countries that Google and Meta allow to advertise in.
What solution did we offer and why?
We studied the requirements of the platforms, talked to support, and suggested that the client get a Canadian Money Service Business license. We had a license ready to go, so the client took it to advertise their project as soon as possible.
Were there any difficulties in solving the request – what were they?
There were no difficulties in resolving it. If the client had come to us initially, we would have immediately organized his work through the MSB license in Canada. He would not have wasted money on a Czech license that did not solve all of his problems. The MSB license covers all his needs in this case.
Duration of the case?
The turnaround time of the case was 1.5 months, including preparation of documents, approvals and going through all the necessary stages of re-issuing the finished license to the client.
What specialists were involved?
- tax consultant;
- company registration manager;
- crypto licensing specialist;
- Intelligent Solution Group's bank specialist.
Result?
Registered company in Canada, obtained MSB license.
The client got Meta's approval for promotion on its social networks.
Also as an additional service we opened a corporate bank account for the work.