Compare Government Regulation for Cryptocurrency : Lithuania, Estonia and Dubai
Feature | Estonia | Dubai | Lithuania |
|---|---|---|---|
Total Price | 25,000€ | 20,000€ | 20,000€ |
License type and government fee | 10,000€
1. Cryptocurrency exchange license
2. Crypto wallet and custodian services license
| 1. 9,700€ - Advisory Services & VA Transfer and Settlement Services | 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 | ||
Required share capital | 250,000€ - Cryptocurrency exchange license
100,000€ - Crypto wallet and custodian services license.
| 24,250€ (Advisory Services) - 194,000€ (Exchange Services)
| 125,000€ |
Share capital payment | Immediately | Immidiately | 25% to start (31,250€), 75% within a year.
|
Renewal fee | None | 50% of Government fee | None |
Supervision fee | None | 20,000€ - 50,000€ | None |
Audit | Both monthly and yearly audits are necessary | VARA may mandate its need | Not required |
Office | Must have | Must have | Virtual |
AML (Anti-Money Laundry Officer) | Local | Can be any nationality | Local |
AML monthly salary | Starting price point: €1,200 | Starting price point: €5,000 | Starting price point: €1,200 |
Local director | Open to all nationalities, but living in Estonia is required. | Any nationality | Any nationality |
Government regulation of cryptocurrency significantly differs among various jurisdictions, necessitating an all-encompassing understanding and comparison of these regulatory frameworks, particularly in places such as Estonia, Lithuania, and Dubai. This knowledge facilitates a thorough assessment of the unique opportunities and challenges each region offers, thereby aligning with your business goals.
In the context of the EU, Estonia and Lithuania have emerged as pioneers in implementing cryptocurrency regulations. Estonia, with its appealing 0% corporate tax rate, lures many nascent crypto ventures. Conversely, Lithuania, recognized for its streamlined licensing procedure and access to the expansive European market, presents its unique advantages.
Dubai, on the other hand, provides a distinct set of benefits. Known for its strategic geographic location and pro-business environment, Dubai grants crypto licenses through its free zone authority and imposes no taxes on crypto investments or trading, establishing an attractive center for global crypto initiatives.
In this rapidly changing ecosystem, Estonia, Dubai, and Lithuania serve as effective alternative solutions, each providing their unique blend of regulatory benefits and entrepreneurial opportunities in the cryptocurrency sphere.
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Mardo Soo - CEO
As the CEO of Consulting24, Mardo embodies the zenith of knowledge in the field of blockchain consulting. His role surpasses traditional boundaries of client acquisition, fostering the formation and growth of lasting business partnerships. His aptitude for untangling the intricate world of the blockchain environment amplifies his exceptional leadership abilities, distinguishing him in the sector.
Lena Elvbakken - Founder
As a co-founder of Consulting24, Lena has established herself as a trailblazer in the realm of government regulation cryptocurrency. Her deep-rooted understanding enables her to skillfully guide innovators through the labyrinthine procedures of establishing exchanges and kick-starting token launches, particularly in crypto-friendly jurisdictions such as Estonia, Lithuania, and Dubai. Her key role in demystifying the complex process of initiating a crypto exchange emphasizes Consulting24's pivotal role in the global advancement of cryptocurrency.
