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Every scam exchange claims to be licensed. So did some of the real ones that collapsed anyway. The difference between a marketing claim and an actual license is that a real one sits in a government database you can search yourself — for free, in about two minutes, before you deposit a cent.
This guide shows you exactly how: the three-step routine that works in any country, the official register for each major jurisdiction, and the traps that catch people who only check the exchange’s own website.
The short version
To check if a crypto exchange is licensed: find the exchange’s exact legal entity name (footer or terms of service), find the regulator and license number it claims, then search that regulator’s official public register directly — never through links the exchange provides. The entity name on the register must match the one in the exchange’s terms.
Why bother — and what a license actually gets you
A license isn’t a badge; it’s a set of obligations with a supervisor attached. Depending on the jurisdiction, a licensed exchange typically must keep customer funds segregated from company money, meet capital requirements, run AML/KYC programs, maintain a formal complaints process, and answer to a regulator that can fine it or shut it down. An unlicensed platform owes you none of that. If it freezes your withdrawal, your recourse is a support ticket into the void.
Let’s be honest about the limits, though: a license is not a guarantee. FTX held licenses and registrations in multiple jurisdictions and still vaporized $8 billion of customer money. Regulation lowers your risk and gives you legal standing when things go wrong — it does not make an exchange fail-proof. Treat “licensed” as the minimum bar, not the finish line, and keep applying the other red-flag checks on top.
The 3-step routine (works everywhere)
Step 1: Find the legal entity name
Not the brand — the company. Scroll to the exchange’s footer or open its Terms of Service and find the registered entity, something like “Payward, Inc.” (Kraken) or “Coinbase Europe Limited.” Big exchanges operate through different legal entities per region, and the license belongs to the entity, not the brand. The entity serving you is the one that needs to be licensed for your country.
Step 2: Find the claimed regulator and license number
Licensed platforms display their credentials — regulator name and a reference number — usually in the footer, a “Legal” or “Licenses” page, or the ToS. A platform claiming to be “fully regulated” without naming any regulator or number has told you everything you need to know.
Step 3: Verify in the regulator’s own register
Type the regulator’s website address yourself or reach it from a search — don’t click a “verify our license” link on the exchange, because fake platforms link to fake register pages. Search the register for the entity name from Step 1. Confirm three things: the entity exists, the license covers crypto services (not some unrelated activity), and the status is active — not lapsed, suspended, or revoked.
Where to check, country by country
European Union / EEA — ESMA’s MiCA register
Since MiCA, the EU has one license type for crypto platforms: the CASP (Crypto-Asset Service Provider) authorization, granted by a national regulator and valid across the whole EU/EEA. The European Securities and Markets Authority (ESMA) aggregates every national authorization into one searchable register at esma.europa.eu. Note that your exchange might be authorized in Ireland or Luxembourg while serving you in Spain — that’s normal under passporting.
One thing that changed very recently: the transition period that let pre-MiCA platforms keep operating while their applications were pending closed on July 1, 2026. An exchange serving EU customers today without CASP authorization isn’t “waiting for its license” anymore — it’s operating outside the law, and your funds should not be on it.
United States — FinCEN plus your state
The US has no single crypto exchange license. At the federal level, exchanges must register with FinCEN as a Money Services Business — searchable at fincen.gov/msb-registrant-search. Important nuance: MSB registration is a filing, not an endorsement — anyone can register, and scam platforms wave it around as if it were a license. The real licensing happens at state level (money transmitter licenses), with New York’s BitLicense from the NYDFS being the strictest. A serious US exchange lists its state licenses on a dedicated page; spot-check your own state’s financial regulator.
United Kingdom — the FCA register
Crypto firms serving UK customers must be registered with the Financial Conduct Authority. Search the entity at register.fca.org.uk. The FCA also publishes a warning list of firms known to operate without permission — worth checking both directions.
Singapore — MAS
The Monetary Authority of Singapore licenses Digital Payment Token providers under the Payment Services Act. Check the MAS Financial Institutions Directory on mas.gov.sg. MAS is famously selective — a full DPT license there is a genuinely strong signal.
Australia — AUSTRAC
Exchanges must be registered as Digital Currency Exchange providers with AUSTRAC (austrac.gov.au). Like FinCEN’s MSB list, this is an AML registration rather than a full prudential license — necessary, but check the other flags too.
Canada — FINTRAC and the CSA
Two layers: MSB registration with FINTRAC (searchable at fintrac-canafe.gc.ca) and, for platforms trading crypto assets, registration with provincial securities regulators coordinated by the CSA. The CSA also publishes lists of platforms banned or warned — check those.
UAE — VARA and others
Dubai’s Virtual Assets Regulatory Authority (vara.ae) publishes its list of licensed Virtual Asset Service Providers; Abu Dhabi’s ADGM/FSRA runs a separate regime. The UAE has become a major licensing hub, so you’ll see these names often.
Everywhere else
The pattern holds globally: identify your national financial regulator, find its public register or its list of authorized virtual-asset providers, and search the entity name. If your country’s regulator has no crypto register at all, weigh that honestly — you’d be relying entirely on the exchange’s foreign licenses and goodwill.
Four traps that catch careful people
The meaningless “license.” “Registered in Saint Vincent and the Grenadines” or a generic offshore incorporation certificate is not a financial license — it’s paperwork. If the claimed authority doesn’t supervise crypto activity, the claim is decoration.
The wrong entity. The register shows “XYZ Europe Ltd” is licensed — but your account agreement is with “XYZ Global Ltd” in an offshore jurisdiction. This structure is common and often legal, but it means the licensed entity isn’t the one holding your money. Read which entity your ToS names.
The cloned website. Scammers clone real licensed exchanges down to the license numbers, on a lookalike domain. Verify you’re on the exact official domain (check the spelling character by character) before the license check even matters.
The revoked license. Registers show status. “Lapsed,” “suspended,” or “in wind-down” means the license existed and no longer protects you. This is why you check the register, not a screenshot on the exchange’s About page.
FAQ
Is FinCEN MSB registration the same as being licensed?
No. MSB registration is a mandatory federal filing that anyone can make — it involves no vetting of the business. Scam platforms cite it constantly because it sounds official. In the US, meaningful licensing lives at the state level (money transmitter licenses, NYDFS BitLicense).
What if my exchange isn’t licensed anywhere?
Then you have zero regulatory protection: no fund segregation requirements, no complaints process, no supervisor to escalate to. Some people accept that risk deliberately for specific reasons; if that’s not a decision you’re consciously making, move your funds to a licensed platform or self-custody.
Does a license protect my money if the exchange goes bankrupt?
Partially, at best. Licensing usually requires segregating customer assets, which improves your position in a bankruptcy — but crypto deposits are generally not covered by government deposit insurance the way bank accounts are, and recoveries take years. FTX’s customers waited over two years for their first payouts. A license improves your odds; it doesn’t make you whole by magic.
Which country’s license is the strongest signal?
Our opinion: a full MiCA CASP authorization, a MAS DPT license, or an NYDFS BitLicense sit at the strict end — all three involve real capital, custody, and governance requirements. AML-only registrations (FinCEN MSB, AUSTRAC, FINTRAC) sit at the weak end: necessary, but they vet paperwork, not solvency.
Regulations change fast — this guide reflects the rules as of its last update date. Spotted something outdated? Tell us and we’ll fix it, per our editorial policy.
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