Requirements · cost · timeline · tax · banking
Crypto license jurisdictions, compared
There is no universally "best" country for a crypto licence — only the best fit for your model, clients and budget. Start with the three routes below, or get them compared side by side.
Three jurisdictions we work with
El Salvador — DASP
A single national licence from CNAD under the Digital Assets framework. Fast timelines, low cost base, crypto-friendly tax treatment. The default pick for exchanges, wallets and issuers that don't need to serve the US market.
El Salvador licenceArmenia — CASP
A licence from the Central Bank of Armenia under the new crypto-asset framework. Strong fit for OTC desks, P2P platforms and businesses serving the CIS region that want a real regulator behind the licence.
Armenia CASP licenceUnited States — the route
Not a licence but a stack: FinCEN MSB registration, state money transmitter licences, New York's BitLicense. The most expensive path in crypto — justified only when US market access is existential.
The US route explainedMatch the jurisdiction to the model
Where are your clients?
If US residents are core to your revenue, you're on the US route whether you like it or not. If not — you're overpaying for a flag you don't need.
What's your runway?
Licensing budgets range from thousands to millions. The jurisdiction decides whether licensing is a line item or your entire seed round.
Can you get banked?
Every jurisdiction has a banking reality. We test account feasibility before you commit — not after the licence is framed on the wall.
Founders don't fail licensing because the law is hard. They fail because they picked the wrong country first.
See the full comparison
Cost, timeline, capital, tax, banking and complexity for all three jurisdictions in one table — with an honest read on what each is for.