Crypto Custody License Services
Crypto Custody License Services
If your business holds digital assets for others, you may need a crypto custody license. We support fintechs in building their licensing strategy, preparing regulatory filings, and setting up compliance programs.
If your business holds digital assets for others, you may need a crypto custody license. We support fintechs in building their licensing strategy, preparing regulatory filings, and setting up compliance programs.
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As seen on:
Eligibility
Eligibility
Common Businesses That Need a Crypto Custody License
Licensing requirements for crypto custody depend on what your business does and where your users are. If you're holding crypto assets for someone else, even as part of another service, licensing may apply. Here are some examples:
Institutional Asset Managers
If managing crypto on behalf of clients, firms often must use or become a licensed custodian to comply with investment advisor rules.
Institutional Asset Managers
If managing crypto on behalf of clients, firms often must use or become a licensed custodian to comply with investment advisor rules.
Digital Asset Platforms
Exchanges or trading apps that hold client funds while processing transactions may be subject to custody rules and registration requirements.
Digital Asset Platforms
Exchanges or trading apps that hold client funds while processing transactions may be subject to custody rules and registration requirements.
Crypto Wallet Providers
Companies that control users’ private keys or store crypto in custodial wallets may need state or federal licensing, depending on the jurisdiction.
Crypto Wallet Providers
Companies that control users’ private keys or store crypto in custodial wallets may need state or federal licensing, depending on the jurisdiction.
Crypto Investment Platforms
Services that hold customer crypto for yield, staking, or fund management must often comply with custody rules under SEC or state oversight.
Crypto Investment Platforms
Services that hold customer crypto for yield, staking, or fund management must often comply with custody rules under SEC or state oversight.
Steps
Steps
Steps to Get a Crypto Custody License
01
Identify Your Business Model and Jurisdictions
Licensing depends on where your users are and what kind of custody you provide. Some firms register with FinCEN and state regulators; others apply for trust charters or international licenses.
01
Identify Your Business Model and Jurisdictions
Licensing depends on where your users are and what kind of custody you provide. Some firms register with FinCEN and state regulators; others apply for trust charters or international licenses.
02
Determine Which License You Need
In the US, you might need a state money transmitter license, a trust license, or a digital asset license like New York’s BitLicense. Outside the US, you may need a MiCA CASP license or equivalent. depending on the jurisdiction.
02
Determine Which License You Need
In the US, you might need a state money transmitter license, a trust license, or a digital asset license like New York’s BitLicense. Outside the US, you may need a MiCA CASP license or equivalent. depending on the jurisdiction.
03
Build Out Your Compliance Program
Regulators expect clear policies. You’ll need written procedures for AML, cybersecurity, asset safeguarding, and recordkeeping. These must match what regulators expect in your chosen jurisdictions.
03
Build Out Your Compliance Program
Regulators expect clear policies. You’ll need written procedures for AML, cybersecurity, asset safeguarding, and recordkeeping. These must match what regulators expect in your chosen jurisdictions.
04
Prepare and Submit the Application
You’ll need to provide business plans, financials, governance documents, and detailed policies. Some jurisdictions require interviews, audits, or background checks on your leadership team.
04
Prepare and Submit the Application
You’ll need to provide business plans, financials, governance documents, and detailed policies. Some jurisdictions require interviews, audits, or background checks on your leadership team.
05
Get Licensed and Manage Compliance
Once approved, you’ll need to keep up with audits, reporting, and ongoing obligations. This includes updating your policies and managing compliance operations day to day.
05
Get Licensed and Manage Compliance
Once approved, you’ll need to keep up with audits, reporting, and ongoing obligations. This includes updating your policies and managing compliance operations day to day.
Resources
Resources
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FAQ
FAQ
Frequently Asked Questions
Frequently Asked Questions
Do cryptocurrency businesses need a money transmitter license?
Do cryptocurrency businesses need a money transmitter license?
Do I need a license to operate a crypto company in the US?
Do I need a license to operate a crypto company in the US?
Does my crypto business need to register with FinCEN?
Does my crypto business need to register with FinCEN?
How do I know which regulators apply to my business?
How do I know which regulators apply to my business?
Let’s Talk About Your Crypto Custody Plans
Let’s Talk About Your Crypto Custody Plans
Who We Serve
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About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.