Crypto License Guide 2026 — Panama, Lithuania, Dubai & More | Consulting24

Choosing between Hong Kong and Panama for your crypto company is a critical decision that affects your regulatory burden, tax exposure, and operational flexibility. This post compares the two jurisdictions to help you decide which fits your business model. CRYPTO LICENSE GUIDE · 2026 Hong Kong vs Panama Crypto licensing across 15+ jurisdictions CONSULTING24.CO Regulatory frameworks: Hong Kong's licensing regime vs Panama's open market Hong Kong has implemented a mandatory licensing regime for virtual asset service providers (VASPs) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. Companies must obtain a licence from the Securities and Futures Commission (SFC) to operate a virtual asset trading platform. The process is rigorous, requiring compliance with capital requirements, custody rules, and anti-money laundering standards. As of 2025, only a handful of platforms have been licensed, reflecting the high bar set by regulators. Panama, by contrast,...

Choosing between Hong Kong and Panama for your crypto company is a strategic decision that depends on your target market, regulatory tolerance, and operational needs. Both jurisdictions offer distinct advantages, but only one aligns with your business goals. CRYPTO LICENSE GUIDE · 2026 Hong Kong vs Panama Crypto licensing across 15+ jurisdictions CONSULTING24.CO Regulatory Frameworks: Clarity vs Flexibility Hong Kong has introduced a mandatory licensing regime for virtual asset service providers (VASPs) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The Securities and Futures Commission (SFC) oversees exchanges offering trading of security tokens, while the Customs and Excise Department regulates money service operators. Companies must apply for a licence, meet capital requirements (around HKD 5 million or more), and comply with strict AML/KYC rules. The process can take 6 to 12 months or longer. Panama, in contrast, has no specific crypto licensing...