Starting Up And Complying With A Fintech And Cryptocurrency Business
With federal, state, and local government agencies regulating and overseeing financial markets, regulatory compliance is paramount for success in the cryptocurrency industry. Legal representation from Bulldog Law provides much-needed knowledge and insight into this complex industry.
We Understand Compliance Is Paramount
Powerful entities focus on preventing the manipulation of markets, performing competency testing of financial service providers and conducting periodic inspections. When necessary, they investigate and prosecute any level of misconduct. These entities include:
- Commodity Futures Trading Commission (CFTC)
- Consumer Financial Protection Bureau (CFPB)
- Federal Deposit Insurance Corporation (FDIC)
- Federal Reserve System
- Federal Trade Commission (FTC)
- Financial Crimes Enforcement Network (FinCEN)
- Financial Industry Regulatory Authority (FINRA)
- Internal Revenue Service (IRS)
- National Futures Association (NFA)
- U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)
- Office of the Comptroller of the Currency (OCC)
- Securities and Exchange Commission (SEC)
- Society for Worldwide Interbank Financial Telecommunications (SWIFT)
Our attorneys understand the workings of these entities and how to comply with their rules and regulations.
We Can Help Business Start-ups Find Success From The Beginning
Launching a bitcoin exchange requires various steps that start with business planning and initial funding. Depending on the selected entity, preparing stock, shareholder, employee/consultant compensation and equity incentive agreements is vital for the company.
From there, prospective business owners need to locate a cryptocurrency exchange software solution provider and launch a marketing and public relations campaign to generate business.
What To Know About Data Protection
Data security is one of the more significant industry obstacles for new cryptocurrency companies. Anything involving finance gets the attention of hackers on the hunt for cyber-attack targets. Companies trying to fend them off have challenges regarding the countless vulnerabilities that need to be covered.
Another tactic involves human error when it comes to phishing and other types of social engineering attacks. The smallest oversight carries massive financial consequences. To make matters more complicated, most fintech apps pass data to multiple locations, including credit card data. Any level of vulnerability puts the future of a blockchain entity at risk.
Contact Bulldog Law For A Free Consultation Today
For insight from attorneys focused on cryptocurrency law and business start-ups, contact the California-based firm, Bulldog Law, at 888-983-1217 or send us an email.