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Lithuania Crypto License Requirements

Transforming Your Vision into Reality through Consulting24

VASP Authorization:


1. Company Registration

2. Crypto License Registration

3. AML/CTF Compliance Documents

4. Share Capital Account Support

20 000

Image showing Vilnius, Lithuania and Lithuania crypto license requirements

Our Clients 

 Lithuania Crypto License  Requirements Explained

Image showing Vilnius, Lithuania and Lithuania crypto license requirements

In Lithuania, organizations providing services related to virtual assets predominantly need two crucial licenses:
 

Cryptocurrency Exchange License - This license empowers a business entity to manage operations that involve the transformation of virtual currencies into FIAT currencies, and vice versa. Additionally, it authorizes the entity to enable the trade of digital currencies amongst users, earning income through fees for services.

Cryptocurrency Wallet License - This specific license enables a firm to securely house clients' digital currencies within its wallets. Furthermore, it grants the company the authority over the private keys associated with these wallets, ensuring the secure handling of digital assets.

Registration Process

  • Launch your crypto exchange or custodial service by establishing a UAB (limited liability company).

  • Initial investment of €125,000, with 25% (€31,250) upfront and remaining 75% (€93,750) contributed over a year.

  • Embracing diversity, directors from any nation are welcome, while the AML officer must be in Lithuania.

  • Progressive and cost-effective Crypto Exchange License issuance, incorporating MiCa Directive principles ahead of adoption.

  • Rapid setup time of 30-60 days, with assistance from Consulting24 to secure a local bank account.

  • Lithuania offers a compelling choice for cryptocurrency ventures, combining favorable regulations and efficient processes.

VASP Services: Activities for Lithuania-based Entities

Crypto to Crypto

Companies identified as VASPs possess the right to provide exchange services encompassing a wide array of digital assets. These include, but are not confined to, a diversity of utility tokens and cryptocurrencies such as Bitcoin, Ethereum, BNB, and more.

Crypto to Fiat, Fiat to Crypto

Securing a cryptocurrency license in Lithuania grants the capacity to mediate exchanges between digital and conventional fiat currencies. This enables clients to execute transactions utilizing utility tokens such as Bitcoin, Ethereum, BNB, and others, in exchange for traditional currencies like the USD and Euro.

Custodial Service

Holding a VASP license authorizes the licensee to safeguard customers' digital currencies in custodial wallets securely. Essentially, the service provider has the ability to generate a digital wallet for a client, retaining the management of the wallet's private keys throughout the process.

Staking as Service

VASPs are authorized to employ staking as a means of generating passive income from digital currencies. This practice, analogous to banking deposits, entails sequestering cryptocurrencies within a network to bolster its functioning. Typically, individuals who stake are rewarded with additional coins, offering a method to possibly amplify their wealth while maintaining possession of their cryptocurrencies.

ICO/IDO/IEO

A Lithuania-based VASP is granted permission to execute Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), and Initial DEX Offerings (IDOs). These methods serve as platforms for the VASP to roll out its unique cryptocurrency. However, it's crucial to emphasize that these offerings are strictly confined to the introduction of utility tokens.

Mint & Trade NFTs

A Lithuania-registered VASP has the proficiency to establish a platform for trading Non-Fungible Tokens (NFTs) or participate in the production of NFTs. This significantly aids in the creation of a distinctive digital asset marketplace.

Your Branded Debit Card

Under Lithuania's licensing structure, your enterprise has the exceptional chance to launch its exclusive branded debit card for your customers. This card enables your clients to make purchases using well-known cryptocurrencies such as Bitcoin, Ethereum, BNB, among others.

OTC 

In line with Lithuania's licensing guidelines, you possess the advantage of providing Over-the-Counter (OTC) trading services to your clientele. This service facilitates private and direct trading of considerable volumes for your clients, allowing them to exchange renowned cryptocurrencies like Bitcoin, Ethereum, BNB, among others.

Seeking a Dubai crypto exchange license? We provide comprehensive support to acquire your Dubai crypto exchange license. We are here to streamline your journey.

Our Team 

Mardo Soo, the CEO of Consulting24, is at the forefront of the effort to secure a Lithuania crypto license requirements
Mardo Soo
CEO
  • LinkedIn

"As the CEO of Consulting24, my objective is to support entrepreneurs in establishing their businesses in Lithuania and securing cryptocurrency licenses, while maintaining a keen focus on cost-effectiveness. Through our proficiency and all-encompassing solutions, we make the process of obtaining a Lithuania crypto license straightforward and help you streamline your expenditure. Our aim is to equip you to capitalize on the prospects presented by the Lithuanian cryptocurrency sector, while adeptly controlling the associated licensing costs. Rely on us to navigate you through the procedure and deliver cost-effective solutions for your crypto licensing requirements in Lithuania."

Lena Elvbakken, Founder of Consulting24, is at the forefront of the effort to secure a Lithuania crypto license requirements
Lena Elvbakken
Co-founder
  • LinkedIn

"As it pertains to businesses breaking ground in the crypto sphere, my expertise centers on providing tailor-made services, particularly in securing a Lithuanian cryptocurrency license. With our professional counsel, clients are empowered to traverse the complex regulatory terrain, assuring they successfully attain the necessary licenses for their cryptocurrency-focused pursuits. Depend on our proficiency to steer you through the procedure and guarantee conformity with the essential regulations for your cryptocurrency ventures in Lithuania."

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