Crypto rules are different in every country. An exchange can be licensed in one region, only registered for anti-money-laundering purposes in another, and not allowed to serve customers in a third. This guide explains the main terms you will see on TradeReviewed.
This page is general information, not legal advice. Rules change, so always check the official register.
Licensed, registered and other statuses
- Licensed
- Registered
- Pending
- Not licensed
- Restricted / not available
- Banned / warning
- Not verified
- Licensed: the exchange (or a group company) holds an authorisation from a regulator to provide crypto services in that jurisdiction.
- Registered: the company is on a regulator’s register, often for anti-money-laundering purposes only. Registration is usually lighter than a full licence and may not include rules on conduct or capital.
- Pending: an application has been announced or filed but not yet granted.
- Restricted / not available: the exchange says it does not serve customers there, or only offers some products.
- Banned / warning: a regulator has issued a warning or an order against the exchange.
- Unknown: we have not verified the status yet.
Licences are often held by a local subsidiary. The legal entity that serves you can differ from the global brand, so check which company is named in the terms for your country.
European Union: MiCA
The Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114, “MiCA”) sets one set of rules for crypto-asset service providers (CASPs) across the EU. A CASP is authorised by the national authority in its home country and can then offer its services in other EU and EEA countries. Member States could allow existing providers to keep operating for a transition period while they applied.
ESMA, the EU securities regulator, publishes an interim MiCA register with authorised CASPs and a list of non-compliant entities. You can download it from ESMA’s MiCA page.
United Kingdom
Crypto-asset businesses that carry out certain activities in the UK must register with the Financial Conduct Authority for anti-money-laundering purposes, and promotions of crypto-assets to UK consumers must follow FCA rules. Check firms on the FCA Financial Services Register.
United States
Rules apply at both federal and state level. Many crypto businesses register with FinCEN as money services businesses, and many states require money transmitter licences. New York has its own regime run by NYDFS. Search FinCEN’s MSB registrant search and NMLS Consumer Access for state licences.
Other key jurisdictions
| Jurisdiction | Regulator | Where to check |
|---|---|---|
| Dubai (UAE) | Virtual Assets Regulatory Authority (VARA) | VARA public register |
| Singapore | Monetary Authority of Singapore (MAS) | MAS Financial Institutions Directory |
| Hong Kong | Securities and Futures Commission (SFC) | SFC lists of virtual asset trading platforms |
| Japan | Financial Services Agency (FSA) | FSA list of registered crypto-asset exchange service providers (Japanese, PDF) |
| Australia | AUSTRAC | AUSTRAC |
| Canada | FINTRAC and provincial securities regulators | FINTRAC |
| South Korea | Korea Financial Intelligence Unit (KoFIU) | KoFIU |
How to check a register yourself
- Find the legal entity named in the exchange’s terms for your country.
- Search that entity name on the official register of your country’s regulator.
- Check the status, the services covered and the date.
- Look for warnings on the regulator’s site as well.