Crypto Licenses & Regulations Explained by Consulting24
Total over 500 projects completed by Consulting24
​Consulting24 CEO: Mr. Mardo Soo
Lithuania Crypto License - Your Guide to Launch a Crypto Exchange
In Lithuania, obtaining a crypto license is crucial for businesses dealing with cryptocurrencies. The regulatory framework ensures compliance with EU directives, focusing on anti-money laundering (AML) and counter-terrorism financing (CTF) measures. Applicants must adhere to strict financial, operational, and security standards, and are often required to establish a physical presence in Lithuania.
Company & License Setup
30-60 days
Remote bank account setup
Lithuania's crypto licenses is accepted by more than 70 banks and payment institutions.
Manage Online
Manage the Lithuania setup remotely.
Lithuania Cryptocurrency License Explained
In Lithuania, companies providing virtual asset services mainly need two key licenses:
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Cryptocurrency Exchange License: This allows a company to manage transactions converting virtual currencies to FIAT and vice versa. Additionally, it authorizes the company to enable digital currency exchanges between users, earning revenue via service fees.
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Cryptocurrency Wallet License: This license permits a firm to securely hold clients' digital currencies in their wallets, also giving the firm authority over the private keys associated with these wallets, ensuring the secure handling of digital assets.
Process
Consultation
To start, register for 30-minute free consulting.
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02
Signing the Contract
Finalizing the agreement and initiating a group chat with the Consulting24 team to start the process.
Payment
To start the process, the first payment has to be made.
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04
Documents & process
1. Passport copies; ( verification via link);
2. Address, phone numbers, e-mails;
3. We provide POA to register a company on the client's behalf;
Setting up a starter account and share capital registration
To register the company and get crypto authorization, first needs to open a starter account for the company in SEB, and 125,000€ needs to be deposited for the share capital registration.
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Company registration and crypto activity authorization
The next step is company registration, preparation for all necessary documents, and AML person recruitment for the crypto authorization approval.
Once approved, you can start opening different payment gateways and accounts for processing.
Lithuania Crypto Regulation & MiCa
Initiating a cryptocurrency venture in Lithuania is streamlined through the establishment of a UAB, a type of limited liability company. This framework is optimal for budding crypto exchanges or custodial services, requiring an initial capital of €125,000. An upfront payment of €31,250 is mandated, while the remaining 75% (€93,750) can be infused over the subsequent year.
We value diverse leadership and are open to directors from any country. However, to maintain the integrity of our crypto environment, it's imperative that the Anti-Money Laundering (AML) officer is based in Lithuania.
Lithuania's approach to granting a Crypto Exchange License is both progressive and economical. Notably, there's a swift establishment timeline ranging between 30-60 days. Additionally, having a local bank account is essential, and our Consulting24 team is primed to assist you in this regard. Lithuania's proactive stance makes it a top destination for cryptocurrency endeavors.
MiCA regulation
Incorporating the MiCA Directive's pivotal elements, Lithuania ensures that the cryptocurrency license is passportable within the EU. This means businesses licensed in Lithuania can operate seamlessly across all EU member states, amplifying the country's appeal as a prime hub for cryptocurrency endeavors.
Possible Activities for License
Custodial Service
Securely store clients' digital assets in custodial wallets. Essentially, the licensee can generate a digital wallet for a client and retain control over its private keys continuously.
Crypto to Fiat, Fiat to Crypto
Exchanges between digital currencies and conventional fiat currencies. This enables clients to trade utility tokens like Bitcoin, Ethereum, BNB, and more, against established currencies like the USD and Euro.
Crypto to Crypto
This allows trading of utility tokens and coins, including but not limited to Bitcoin, Ethereum, BNB, and more.
ICO/IDO/IEO
Carry out ICOs, IEOs, and IDOs, offering avenues to introduce its cryptocurrency.
Staking as Service
Leverage staking for passive cryptocurrency income. This approach, akin to bank deposits, entails committing cryptocurrencies to bolster a network's operations. Stakers often receive additional coins as rewards, allowing asset growth while retaining their digital holdings.
Mint & Trade NFTs
Establish an NFT trading platform or delve into NFT creation, paving the way for a distinctive digital asset marketplace.
Why Consulting24?
500+ licenses completed by Consulting24 team.
Team
Mardo Soo
"Our experience consistently highlights that Lithuania's licenses stand unparalleled in the crypto industry. It's the preferred choice for forward-thinking enterprises aiming for growth and compliance."
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