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Where is the best place to register a bitcoin startup?
Hello. I am developing a service related to cryptocurrency.
The project has no links with traditional "fiat" money. Only transactions with bitcoin. And the entire profit of the project is % from bitcoin operations.
It's time to think about the legal side of the issue. But I am a beginner in this business, I have absolutely no idea how best to organize everything so that in the future it would be possible to discuss attracting investments / selling the project, and also not have problems with the tax authorities. I myself am in the Russian Federation, but I am of the opinion that it is better to register startups abroad. But this certainly applies to those projects that are directly related to traditional money: payments, banks, etc. And I have everything tied only to bitcoin. Does it make sense to register a legal entity at all? If so, why and in what country?
Thank you in advance for your attention and possibly incorrect questions on my part;)
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Bitcoin is Through the Looking Glass, register there
or see how exchanges work
The legislation of the Russian Federation does not yet describe the essence of cryptocurrencies. Therefore, the concept of profit or income does not arise until there is an exit to fiat money or other entities that can be recognized as income. You can use play money in some online toy as an analogy.
If you are going to register in another country, then you need to look at their laws and practices. It is best to consult a lawyer on this matter.
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