Crypto Regulations Around the World
Consulting24 Crypto Regulation Summary provides an overview of the crypto regulation by country. What is the best country for crypto licenses?
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What is Crypto Regulation?
Crypto Regulation refers to the set of laws and guidelines designed to govern the operation, exchange, and security of cryptocurrencies and related financial activities.
Crypto exchange, payment gateways, or processors.
The most popular is on acquiring crypto licenses: in Lithuania, Estonia, or Dubai.
Private individuals or corporations looking to invest and manage their funds.
The most popular is the Estonia company. 0% corporate tax, no obligation for dividend distribution, ease of opening bank accounts, and converting crypto to EUR. Estonia presents a prime opportunity for crypto investments.
At Consulting24, we specialize in the intricate world of Crypto Regulation, offering expert guidance and support in navigating the legal frameworks governing the regulation on crypto.
Regulation on Crypto: Estonia, Lithuania, and Dubai
License type and government fee
10,000€ 1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. 9,700€ - Advisory Services & VA Transfer and Settlement Services
No additional fee
2. 24,250€ - Broker-Dealer, Custody, Exchange, Lending and Borrowing & VA Management and Investment Services
Required share capital
250,000€ - Cryptocurrency exchange license 100,000€ - Crypto wallet and custodian services license.
24,250€ (Advisory Services) - 194,000€ (Exchange Services)
Share capital payment
25% to start (31,250€), 75% within a year.
50% of Government fee
20,000€ - 50,000€
Both monthly and yearly audits are necessary
VARA may mandate its need
AML (Anti-Money Laundry Officer)
Can be any nationality
AML monthly salary
Starting price point: €1,200
Starting price point: €1,200
Starting price point: €5,000
Open to all nationalities, but living in Estonia is required.
Crypto Regulators Overview: Estonia, Lithuania, and Dubai
The Financial Intelligence Unit (FIU) in Estonia is a crucial agency responsible for preventing money laundering and terrorist financing. It oversees and regulates financial activities, including cryptocurrencies, ensuring compliance with national and international laws, and monitoring licensed entities to prevent illicit practices.
The Financial Crime Investigation Service (FCIS) of Lithuania is central to the regulation of crypto activities, focusing on the management of Virtual Asset Service Provider (VASP) licenses. Dedicated to thwarting financial crimes, the FCIS ensures that crypto market participants adhere to the legal and regulatory standards established by Lithuanian authorities.
The Virtual Asset Regulatory Authority (VARA) of Dubai is instrumental in the regulation of crypto activities, particularly in overseeing the issuance of Virtual Asset Service Provider (VASP) licenses. Committed to preventing financial crimes, VARA ensures that participants in the crypto market comply with the legal and regulatory frameworks set forth by Dubai's authorities.
SEC Crypto Regulation: What You Need to Know.
In the dynamic realm of cryptocurrency regulation, recent developments have underscored the need for vigilance and strategic foresight. The SEC (Securities and Exchange Commission) has notably escalated its regulatory actions, as evidenced by significant cases involving major industry players. Kraken (SEC Case), a prominent crypto exchange, agreed to discontinue its unregistered Crypto Asset Staking-As-A-Service program, additionally settling SEC charges with a $30 million payment. This move highlights the SEC's firm stance on unregistered securities offerings.
Simultaneously, Binance (SEC Case) and its CEO faced a stark reality, pleading guilty to federal charges in a resolution amounting to $4 billion. These instances reflect the intense regulatory scrutiny and potential legal consequences facing crypto businesses in the U.S.
Given these developments, the Consulting24 team advises a strategic pivot towards jurisdictions like Lithuania and Estonia, known for their more crypto-friendly regulatory environments. With the US representing a mere 4% of the global crypto market, diversifying focus to these alternative markets seems prudent. Lithuania and Estonia offer clearer regulatory frameworks, enabling crypto service providers to operate within a legal context and avoid the protracted and costly legal challenges seen in the US. For those navigating the intricate landscape of crypto regulation, these alternative markets offer a path of lesser resistance and greater potential.
Consulting24: Top Crypto Consulting Services Company
Consulting24: Leaders in Crypto Regulation, Total Over 500 Successful License Secured.
Mardo Soo - CEO
At the forefront of Consulting24, Mardo exemplifies the essence of an expert in crypto consulting. His responsibilities extend beyond mere client acquisition; he places great emphasis on fostering long-lasting business partnerships. His skill in untangling complex matters stands out in the intricate sphere of cryptocurrency, underscoring his remarkable leadership capabilities.
Lena Elvbakken - Founder
As the co-founder of Consulting24, Lena has etched an exceptional presence in the realm of crypto regulation consulting. Steering innovators with skill and sophistication, she assists them through the labyrinth of initiating exchanges and token launches in crypto-receptive areas such as Estonia, Lithuania, and Dubai. Her crucial contributions in demystifying the complexities of establishing a cryptocurrency exchange accentuate Consulting24's pivotal role in the global proliferation of cryptocurrency.