Do you need a Lithuania crypto exchange license?

Yes, Licenses for Cryptocurrency Wallet and Custodian Services This license is necessary for entities offering cryptocurrency storage wallet services. Providers of these services generate encrypted keys for clients, enabling them to securely store, exchange, and transfer digital currencies.

Is crypto regulated in Lithuania?

The legal framework within the country permits cryptocurrency businesses to operate lawfully. To combat money laundering and terrorist financing, these operations are subject to strict regulation and oversight.

Who issues a crypto exchange license in Lithuania?

Lithuania's Financial Crime Investigation Service (FCIS) After re-registering the company under your name, you can apply for a crypto exchange license, either a Cryptocurrency Exchange License or a Crypto Wallet and Custodian Services License, by informing the Lithuanian Financial Crime Investigation Service (FCIS) about your intended crypto-related activities.

Where is the easiest place to get a crypto license?

Lithuania is considered one of the easiest places to obtain a cryptocurrency license. The process typically takes 30-60 days, and opening a bank account for crypto-related activities is straightforward. A share capital of 31,250€ is required for the license, and Lithuania offers licenses for Cryptocurrency Wallet and Custodian Services.

What is the capital requirement for Lithuania crypto exchange license?

In Lithuania, the share capital for a crypto license is €125,000. Initially, 25% of this amount (€31,250) must be paid up, with the remaining 75% (€93,750) to be increased within one year.

How to Obtain a Lithuania Crypto Exchange License?

Crypto Exchange License Lithuania

Company registration
VASP registration acquisition within FNTT
State and notary fees included
AML/CTF documentation
Share capital deposit account opening

20 000 €

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Lithuania Crypto Exchange License in Details

In Lithuania, crypto licenses primarily encompass two operational areas for virtual asset service providers:

Cryptocurrency exchange license — This license enables a company to execute virtual currency exchange against FIAT and vice versa, or facilitate virtual currency exchanges among themselves, earning a commission for the provided services.
Cryptocurrency custodial license (cryptocurrency wallet services) — This license permits a company to hold virtual currencies in its wallet on behalf of its clients and maintain the encrypted private keys from these wallets.

Image showing Vilnius and a Lithuania crypto exchange license

Lithuania Crypto Exchange License in Details

Starting a crypto business in Lithuania is streamlined and accessible, especially with the country's favorable legal environment. Here's a breakdown of the process for obtaining a Crypto Exchange License in Lithuania:

Establishing a UAB: Create a limited liability company in Lithuania, an ideal foundation for crypto exchanges or storage services.
Capital Requirement: A total capital of €125,000 is needed, with €31,250 (25%) to be paid upfront and the remaining €93,750 (75%) within a year.
Leadership Diversity: Directors can be from any country, reflecting Lithuania's commitment to diverse leadership in the crypto sector.
AML Officer Specification:
- Must be located in Lithuania.
- This position is crucial for upholding the integrity of the crypto ecosystem.
- The individual must possess an appropriate educational background and experience in AML (Anti-Money Laundering) practices.
- Maintaining an unblemished reputation is critical to uphold integrity and professionalism.
Features of Lithuania's Crypto License:
- Proactive adoption of key elements from the MiCa Directive, ensuring advanced regulatory standards.
- Fast setup time of 30-60 days.
- Requirement of a local bank account, with support provided by the Consulting24 team.

Lithuania's approach, encompassing a progressive, cost-effective licensing process and comprehensive support, positions it as a leading choice for establishing a crypto exchange under the Lithuania Crypto Exchange License.

For those considering a crypto exchange license in Estonia, explore your options here.

Consulting24 is dedicated to assisting businesses in acquiring their AE Crypto License with ease and efficiency. Discover more about what we offer here.

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Lithuania Crypto Exchange License Cost & Documents

Company setup;
Notary/state fees covered;
AML/CTF documents;
Bank account initiation;
Share capital registration;
License procurement;

20 000€

Provide passport copies (verification link);
Submit address, phone, email;
Issue POA for company registration;

NB! No visit needed for registration/account setup.

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Scope of Services: What a Crypto Exchange License in Lithuania Can Do?

Comprehending the Wide-ranging Capabilities of Virtual Asset Service Providers

Crypto to Fiat, Fiat to Crypto

Possessing a cryptocurrency license in Lithuania endows one with the capacity to mediate the exchange between cryptocurrencies and traditional, fiat currencies reciprocally. As a result, clients are accorded the advantage of trading utility tokens ( Bitcoin, Ethereum, BNB, etc) and currencies such as the USD, Euro, and others.

Crypto to Crypto

Firms acknowledged as VASPs are accorded the right to offer exchange services for a multitude of digital assets, including but not limited to Bitcoin, Ethereum, BNB, as well as other utility tokens and coins.

Custodial Service

Holding a VASP (Virtual Asset Service Provider) license allows the holder to safeguard clients' cryptocurrencies through custodial wallets. This essentially means that the service provider can create a digital wallet for a client, and, while doing so, maintains control over the wallet's private keys.

Staking as Service

VASPs are allowed to use staking to create passive cryptocurrency income. This process, similar to making a bank deposit, involves locking cryptocurrencies into a network to support its operations. In return, stakers are rewarded, usually with more coins, thus providing a way to earn while holding cryptocurrencies.

ICO/IDO/IEO

A Lithuanian crypto exchange license allows for conducting ICOs, IEOs, and IDOs, focusing on launching utility tokens only.

Mint & Trade NFTs

A Lithuanian-registered VASP has the ability to establish a platform for NFT (Non-Fungible Token) trading, or even partake in NFT creation. This contributes to the formation of a unique digital asset marketplace.

Our Team

Mardo Soo

Founder

"As the CEO of Consulting24, I have the responsibility of assisting aspiring entrepreneurs in establishing their businesses and obtaining the necessary licenses for engaging in crypto-related activities. Our company provides comprehensive solutions that streamline the entire process, enabling our clients to fully leverage the potential of the cryptocurrency industry.."

Lena Elvbakken

Co-founder

"I specialize in providing personalized services to companies venturing into the cryptocurrency realm. Through our expert guidance, clients can navigate the complex regulatory landscape with confidence and successfully obtain the essential licenses needed for their crypto-focused initiatives."