<p>I don't think StackExchange is the best place to ask for legal advice.</p>

<p>Logically, one would set up a company, get a business bank account and start their operations. However, it is very advisable to consult a lawyer first, as there are some legal concerns one should keep in mind, like <a href="http://en.wikipedia.org/wiki/Money_laundering#United_States">the money laundering regulations</a> that one should adhere to.</p>

CC BY-SA 3.0
2012-05-12T13:17:16.580Z
2012-05-12T13:17:16.580Z
ThePiachu
<p>I'm asking about legal concerns, not technological ones. If I'm based in the USA, should the exchange be a US company? If not, where should it be based? </p>

<p>How is banking set up? </p>

CC BY-SA 4.0
2023-07-05T17:56:59.637Z
I’m voting to close this question because now it's off topic under the current site scope.
Mercedes
<exchanges><legal>
How do I legally set up an exchange?
Shamoon
# How do I legally set up an exchange?

(Asked by: username_0 on 2012-05-12)

I'm asking about legal concerns, not technological ones. If I'm based in the USA, should the exchange be a US company? If not, where should it be based?

How is banking set up?

**Tags:** exchanges, legal

> **Comments:**
> **username_1**: I’m voting to close this question because now it's off topic under the current site scope.  

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## 1 answers

### Answer by username_2 on 2012-05-12. Score: 7 | Accepted answer

I don't think StackExchange is the best place to ask for legal advice.

Logically, one would set up a company, get a business bank account and start their operations. However, it is very advisable to consult a lawyer first, as there are some legal concerns one should keep in mind, like [the money laundering regulations](http://en.wikipedia.org/wiki/Money_laundering#United_States) that one should adhere to.


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