How to Get a Cryptocurrency Exchange License in 2025

Over $4.3 trillion worth of crypto assets were traded across centralized exchanges in 2024 alone, according to Chainalysis. But behind every legal trade is something far less visible: a properly issued crypto license. Without it, most crypto businesses risk fines, banking restrictions, or even shutdown.

Whether you're building a spot exchange, a crypto trading platform, a custodial wallet, or a Web3 bank - licensing isn’t just paperwork. It's the foundation of long-term survival and credibility in a rapidly regulating market.

This guide breaks down what a cryptocurrency exchange license really means, what types of crypto licenses exist globally, how to reduce licensing costs, and what regulators expect in 2025.

A cryptocurrency license is a legal authorization to operate a business that deals with digital assets. The exact name, structure, and legal obligations vary across jurisdictions, but regulators generally expect companies to meet three categories of responsibility:

You need a license for crypto exchange or related operations if your company does any of the following:

A crypto license isn’t one-size-fits-all. There are retail-focused licenses (e.g. for exchanges), trading-focused licenses (e.g. OTC desks), and institutional frameworks like the crypto bank license.

Not all crypto-friendly jurisdictions offer the same regulatory clarity, speed, or cost structure. Some are known for lightweight Virtual Asset Service Provider (VASP) regimes; others provide full regulatory frameworks for crypto banks and exchanges.

Several jurisdictions, such as St. Vincent and the Grenadines, St. Lucia, and Panama, do not have dedicated crypto regulations. Instead, crypto-related activities fall under general commercial or corporate law. These jurisdictions can still be used for crypto operations, provided a local legal opinion confirms that the activities do not violate domestic laws. However, it's important to note that international recognition and access to top-tier banking services may be limited in these cases.

For serious and scalable operations, the optimal approach is to choose jurisdictions with a strong and well-established regulatory framework. If your goal is to build a global exchange or offer crypto trading across multiple regions, combining robust licenses - such as Switzerland or European Union - provides greater strategic credibility, regulatory clarity, and access to global financial infrastructure.

There's no fixed cost for a cryptocurrency exchange license. Total expenses vary widely depending on the jurisdiction, business model, and whether you’re applying independently or through legal advisors.

No serious crypto company can operate without a license anymore. Regulatory enforcement is increasing globally, and banking partners now require proof of compliance before onboarding any crypto entity.

Whether you're launching a trading app, building a crypto exchange, or planning to act as a digital asset custodian — licensing is your credibility layer. It's what makes investors trust you, what allows banks to work with you, and what keeps regulators off your back.

And with regulators shifting fast, it's no longer about one license. It’s about a global licensing strategy — one that allows your crypto company to scale legally across borders.

See how BMP Global helps crypto companies get licensed and stay compliant at scale.

A cryptocurrency exchange license allows a business to legally operate a platform where users can buy, sell, and trade digital assets.

A VASP license is a type of crypto license that covers virtual asset service providers. It's often used by companies offering exchange, wallet, or custodial services under AML laws. All VASP licenses are crypto licenses, but not all crypto licenses are VASP-specific.

Depending on the jurisdiction, a license can cost anywhere from $10,000 to over $100,000. The final amount depends on government fees, legal services, local hiring, and compliance infrastructure.

It depends on whether your platform holds user funds, provides exchange functionality, or operates under centralized management. Fully decentralized platforms may avoid licensing, but most investor-backed projects still seek some form of regulatory cover.