Compare Cryptocurrency Laws
Feature | Dubai | Lithuania | Estonia |
|---|---|---|---|
Cost | 20 000€ | 20 000€ | 25 000€ |
License Type & Government fee | 1. 9,700€ - Advisory Services & VA Transfer and Settlement Services | 1. Cryptocurrency exchange license
2. Crypto wallet and custodian services license
| 1. Cryptocurrency exchange license
2. Crypto wallet and custodian services license
|
2. 24,250€ - Broker-Dealer, Custody, Exchange, Lending and Borrowing & VA Management and Investment Services | No additional fee | 10 000€ | |
Audit | May be required by VARA | Not required | Monthly and yearly are needed |
Office | Required | Can be virtual | Required |
AML (Anti-Money Laundry Officer) | Can be any nationality | Local needed | Local needed |
AML monthly salary | 5000€ | Starting from 1200€ | Starting from 2000€ |
Local director | Can be any nationality | Can be any nationality | Can be of any nationality, but have to live in Estonia |
Share capital terms | Immidiately | 25% now, 75% within a year.
| Immediately |
Required share capital | 24,250€ (Advisory Services) - 194,000€ (Exchange Services)
| 125 000€ | 100 000€ - Crypto wallet and custodian services license.
250000€ - Cryptocurrency exchange license |
Consulting24 Clients
A Deep Dive into Crypto Laws and Licensing
Diving into the world of digital currency requires a nuanced understanding of cryptocurrency laws, especially when focusing on regions like Lithuania, Estonia, and Dubai. These places each uphold unique regulatory standards, carving out a myriad of possibilities within the cryptocurrency domain:
🔹 Lithuania:
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European Entry: Streamlined licensing as a portal to the expansive crypto market of Europe.
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Financial Structure: Initiate with 125,000€; front 31,250€ (25%) and settle the balance in the coming months.
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Business Ambit: Encourages the establishment of virtual offices and assumes international managerial roles.
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Regulatory Essentials: Presence of an AML officer is non-negotiable, while regular audits are optional.
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Time Frame: Licensing endeavors usually culminate between 30 to 60 days.
🔹 Estonia:
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Tax Benefits: A compelling 0% corporate tax and no binding dividend payouts.
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Licensing Model: Set at a clear-cut 10,000€.
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Regulation Prerequisites: The inclusion of an in-country AML specialist and director is paramount.
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Accountability: Consistent audits are a given.
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Exchange Financials: A demanding capital of 250,000€ is obligatory.
🔹 Dubai:
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Cryptocurrency Leadership: Heralded for spearheading ground-breaking crypto initiatives.
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Tax Bonuses: Absolute tax relief on cryptocurrency gains.
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Licensing Outline: Typically fluctuates between 9,700€ and 24,250€, complemented by a supervisory fee amounting to half the initial charge.
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Elite Endeavors: Given its lavish fee structure, it's tailored for upscale projects.
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Monetary Mandates: Cryptocurrency platforms necessitate a formidable 194,000€ backing.
🔹 MICA Regulation:
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Investor Safeguard: MiCA accentuates transparency and shapes a resilient structure for token proponents and crypto service providers.
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Token Breakdown: The directive envelops issuers of utility tokens, tokens backed by tangible assets, and the renowned 'stablecoins'.
For those with ambitions of launching a crypto exchange or introducing a token, an in-depth comprehension of cryptocurrency laws is pivotal. Investing effort in understanding these guidelines can lay the groundwork for a flourishing crypto endeavor.
Consulting24 Team
Mardo Soo - CEO
At Consulting24, Mardo's acumen in blockchain consulting, token unveiling, and strategic market placements is palpable. More than just client interactions, he thrives on building lasting business connections, establishing himself as a central figure in the cryptocurrency universe.
Lena Elvbakken - Founder
Lena, the driving force behind Consulting24, possesses deep insights into cryptocurrency laws. She adeptly steers innovators through the processes of setting up exchanges and launching tokens, especially in hubs like Estonia and Lithuania. Her prowess in simplifying the complexities of crypto initiations enhances Consulting24's prominence in the cryptocurrency sector.
