Do you need a crypto license in Lithuania?

Yes. To apply for a crypto license in Lithuania, a company must open an account with a financial institution that is registered in Lithuania. This can be either one of the Lithuanian banks or an Electronic Money Institution in the country. Additionally, the company is required to deposit its authorized capital into this account.

Is crypto regulated in Lithuania?

The legal framework in the country allows for the lawful operation of cryptocurrency businesses. These activities are stringently regulated and monitored to combat money laundering and terrorist financing.

Requirements for a Crypto License in Lithuania.

The minimum registered share capital requirement is 125,000 EUR. However, there are no requirements for monitoring own funds, and solutions are available that do not require the actual contribution of these funds.

Which bank is crypto friendly in Lithuania?

Bankera and Paysera, based in Lithuania, provide a variety of cryptocurrency services, such as digital wallets, exchange platforms, and lending services.

Which country has the best crypto regulation?

Lithuania is considered to have some of the best cryptocurrency regulations. This is attributed to its efficient setup process, typically taking only 30-60 days, and the ease of opening bank accounts for crypto-related businesses.

FCIS Lithuania Crypto: Revolutionizing the Cryptocurrency Landscape in Lithuania

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FCIS Lithuania Crypto Licensing and Role: An Overview

The Financial Crime Investigation Service (FCIS) of Lithuania plays a pivotal role in the regulation and oversight of cryptocurrency activities within the country, particularly in the issuance and management of VASP (Virtual Asset Service Provider) licenses. Established with a mission to combat financial crimes, the FCIS ensures that entities involved in the crypto market operate within the legal and regulatory framework set by Lithuanian authorities.

As the primary regulator for the VASP license in Lithuania, the FCIS sets stringent criteria for licensing, focusing on anti-money laundering (AML) and counter-terrorist financing (CFT) measures. The FCIS’s oversight extends to ensuring that all VASP license holders in Lithuania adhere to international standards of financial compliance, thereby maintaining the integrity and stability of the Lithuanian financial market. This diligent approach by the FCIS not only facilitates a secure environment for crypto transactions but also positions Lithuania as a reputable hub for digital financial activities.

An Overview of VASP Services

Crypto to Crypto

Businesses granted recognition as VASPs are empowered to facilitate a wide range of crypto-to-crypto transactions. This includes dealing with premier cryptocurrencies such as Bitcoin, Ethereum, BNB, among other prominent digital assets.

Crypto to Fiat, Fiat to Crypto

Allows your clients to execute transactions using utility tokens, including but not limited to Bitcoin, Ethereum, BNB, and exchange them for traditional currencies like USD and Euro.

Your Branded Debit Card

Lithuania's licensing framework offers your business a distinctive advantage - the opportunity to launch your very own branded debit card. With this, your customers can easily perform transactions using well-known cryptocurrencies such as Bitcoin, Ethereum, BNB, and more.

Custodial Service

As a VASP license holder, you gain the authority to safely store client's digital currencies in custodial wallets. Essentially, you can establish a digital wallet on behalf of a client, retaining management over the wallet's private keys all throughout.

ICO/IDO/IEO

A VASP registered in Lithuania is granted the privilege to orchestrate Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), and Initial DEX Offerings (IDOs). These channels enable the VASP to debut its unique cryptocurrency. It should be noted, though, that these offerings are exclusively reserved for the launch of utility tokens.

Mint & Trade NFTs

A Lithuania-based VASP possesses the capability to build a platform dedicated to the transaction of Non-Fungible Tokens (NFTs) or even partake in the creation of NFTs. This significantly aids in establishing a distinctive marketplace for digital assets

Staking as Service

VASPs are authorized to utilize staking as a means to generate passive income from cryptocurrencies. This technique involves securing cryptocurrencies within a network to bolster its functions. Often, participants in staking are rewarded with additional tokens, presenting a route to potentially amplify their wealth while maintaining their digital assets.

OTC

Under Lithuania's licensing guidelines, you gain the ability to provide Over-the-Counter (OTC) trading options to your clientele. This service facilitates confidential and direct trading of substantial volumes, allowing your clients to trade renowned cryptocurrencies like Bitcoin, Ethereum, BNB, among others.

To tap into this expertise and embark on a seamless crypto licensing journey, especially in areas impacted by regulation on crypto, explore our platform for a wealth of resources. Dive deeper into the specifics of crypto regulations and understand how they can shape your venture's success by visiting here.

VASP License Lithuania: Essential Requirements and Process

Obtaining a VASP License Lithuania allows cryptocurrency businesses to operate legally within the European Union under a structured and regulator-approved framework. Lithuania has become a preferred jurisdiction for Virtual Asset Service Providers due to its clear compliance requirements, MiCA-aligned regulation, and efficient licensing process.

Company Formation (UAB)

To apply for a VASP License in Lithuania, the applicant must establish a UAB (private limited liability company). This entity serves as the licensed operating company for all virtual asset activities.

Permitted VASP Activities

A VASP License Lithuania may cover a wide range of regulated services, including:

Crypto exchange & trading platforms
OTC trading
Custody & wallet services
IEOs & token offerings
Staking services
NFT & token trading
Crypto card issuance
EUR accounts & payment services

Share Capital Requirements

The required share capital depends on the selected VASP activities:

Advisory / OTC / IEOs: €50,000
Custody services: €125,000
Trading platform / exchange: €150,000

Share capital is not a fee and remains available for company operations in accordance with regulatory rules.

Management & Compliance Structure

Directors: May be of any nationality, subject to regulatory screening
AML Officer:
- Must be based in Lithuania
- Relevant AML education and professional experience required
- Impeccable reputation and clean compliance history

Licensing Timeline

Preparation & compliance setup: 7–8 weeks
Regulatory review & approval: 2–4 months

Lithuania offers one of the fastest VASP licensing timelines within the EU.

Banking & Operational Readiness

Licensed VASPs must maintain a local bank or EMI account. Consulting24 provides full support with banking introductions and onboarding.

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