How to create your own crypto exchange in Bulgaria?

The creation of a financial project related to the trading of crypto-currencies in Bulgaria is a process that hides several detailed questions, having for its object specific legal, financial and technological aspects. Crypto exchanges are digital market, financial platforms that allow users to buy and sell cryptocurrencies. Cryptocurrency exchanges may also support trading in other digital assets, such as non-fungible tokens (NFTs). Cryptocurrency exchanges function similarly to traditional exchanges with two important exceptions: there is no physical presence in trading, i.e. crypto exchanges are strictly digital markets. Cryptocurrency exchanges are similar to digital money markets, except that the majority of supported currencies are cryptocurrencies. Crypto exchanges also support a number of fiat (issued by governments) currencies, and trade in so-called stable coins (from the English "stable coins"), which are one-to-one with a specific fiat currency (for example, the crypto currencies USDT and USDC are one-to-one one with dollars).

In order to start the implementation of such a project, the legal and regulatory framework, the necessary licensing regimes and the means of collaboration with the legal entities that would trade cryptocurrencies, including their creators, should be analyzed in detail. As I already mentioned, crypto exchanges are blockchain platforms through which cryptocurrencies are traded, and they are also a technological tool that provides liquidity in the market, but also legal and software security, in order to guarantee the transfer of funds and unification in a common instrument of demand and the supply of blockchain financial assets. There are different types of crypto exchanges – crypto brokers, centralized exchanges and decentralized exchanges depending on the technological, financial, regulatory and legal approach of each such project.

What is the difference between an ICO and an STO?

1.ICO or  "Initial coin offering" - initial offering of tokens.

The “ICO” model was the first crowdfunding opportunity to emerge in the blockchain ecosystem. This fundraising method has made it possible for anyone and anywhere to finance the development of a company or project. ICOs were also named after the cryptocurrency version of the initial public offering (from the English Initial public offering or "IPO"). In exchange for his investment in the ICO projects, the investor receives a certain number of "utility tokens" or in other words, user tokens. These tokens represent future access to the company's product or service.

Why a legal opinion for your blockchain project it is extremely important?

1.Introduction.

A legal opinion concerning WEB3 projects is a legal tool that allows developers, investors and blockchain executives to obtain a qualified third-party opinion on the subject matter, object, financial and technological substance, as well as the legal specifics of the creation of a particular blockchain project. This opinion is a professional, legal document prepared by a competent legal professional on each specific issue or problem subject to the commissioned study.

Prior to marketing any particular blockchain project, the parties should carefully consider the nature and extent of its financial and technological substance, as well as the legal issues related thereto, in order that this analysis will serve to guarantee the rights of each participant in such investment.