Does anyone know of an
EMI or Bank that accepts
crypto businesses from the USA? I already have a full
kyc/aml policy,
privacy policy, AML officer, etc.
The account would not be used to receive any customer payments. Just need somewhere under my LLC name to receive settlement payments from
payment processor.
there's also an option of registering your crypto business in BVI or HK, which will be working only with crypto and have no fiat banks. then you register an LLC or anything else that you want, as a 'service provider to other companies' (a contracting firm of a kind, or a service provider, that "has nothing to do with crypto" ) so that service provider of yours will be the one with fiat on ramp and off ramp, but payments across your BVI or HK business to that provider company will be in crypto. That way your service provider is not in a "crypto business" while it still of course can use crypto in any exchanges that will open you a business account (
Kraken, Coinbase, BlockFI [though you should avoid blockfi until they solve their issues], FTX.US,
Binance.US, Gemini, and so on) so the fiat to
crypto exchange and vise versa is done by "service provider" company for whatever services it does (like building the actual platforms and websites of the crypto business) and the crypto fundraising and all operations are done by the HK or BVI registered entity. It's a legal approach, nothing shady. But you should consult with a legal advisor because this info of mine is from 5 months ago, things might've changed. I don't use this approach personally yet, but I plan to (and when I'll start using it I'll get an up to date legal advice one more time, that's a must, regulations change every day.... )
Does anyone know of an
EMI or Bank that accepts crypto businesses from the USA? I already have a full kyc/aml policy, privacy policy, AML officer, etc.
The account would not be used to receive any customer payments. Just need somewhere under my LLC name to receive settlement payments from payment processor.
Oh and by the way, Bank of America is happily moving around my dollars to crypto and back, for the last 2 years, in amounts of up to 100k, with no questions asked, I highly recommend BoA (I'm connecting them directly to crypto exchanges and it just works). Schwab is also amazing, I used them too, but for smaller amounts, no questions either. Check with both of them, before you start moving large sums though, call a branch or meet a banker at the branch, to avoid any possible hiccups.
