One thing that confuses a lot of people is that a "crypto license" is not just one thing. Depending on what you are doing - whether it is an exchange, a wallet, or an ICO - the license requirements can change drastically. Some countries treat everything as a security, while others have separate categories for utility tokens or stablecoins. It is essential to categorize your business correctly from the start. I have been reading up on how different regions define these assets to make sure we are applying for the right permissions. This overview of crypto licenses around the world - https://cryptolicenses.net/crypto-licenses/ - was really helpful for getting my head around the global landscape. You really do not want to be in a position where you have the wrong license for the services you are actually providing. It is all about precise legal engineering.