A checklist for setting up and operating a cryptocurrency exchange.
Consult with legal experts specializing in cryptocurrency regulations.
This may include money transmitter licenses or virtual currency business licenses.
Implement appropriate data protection measures.
Use offline wallets and secure storage facilities.
Implement multi-signature authorization and other security measures.
Engage reputable cybersecurity firms for independent assessments.
Ensure scalability and low latency.
Display buy and sell orders in real-time.
Offer well-documented APIs for trading, market data, and account management.
Offer multiple support channels (e.g., email, chat, phone).
Use appropriate KYC/AML software and tools.
Work with banks that are familiar with the cryptocurrency industry.
Use accounting software that supports cryptocurrency transactions.