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Why choose Lithuania for a crypto license?

In the rapidly evolving world of cryptocurrencies, Lithuania has emerged as a prime destination for individuals and companies seeking crypto licenses. This article explores the reasons behind Lithuania's growing popularity for crypto licensing, including the services offered by Consulting24, and the process involved in obtaining these licenses.



Vilnius Cityscape with Crypto License in Lithuania
Vilnius Cityscape with Crypto License in Lithuania

Lithuania's Proactive Regulatory Environment


Lithuania's proactive approach to cryptocurrency regulation sets it apart from other jurisdictions. Recognizing the transformative potential of blockchain technology, Lithuania introduced a comprehensive legal framework for virtual currencies and initial coin offerings (ICOs) in 2018. This framework provides clear guidelines for businesses in the crypto space, offering legal certainty and stability.


Founders Mardo Soo and Lena Elvbakken with Crypto License in Lithuania
Founders Mardo Soo and Lena Elvbakken with Crypto License in Lithuania

Why Consulting24? Experience is our leverage.


When navigating the complex world of cryptocurrency licensing in Lithuania, having a trusted partner like Consulting24 can be invaluable. Consulting24 specializes in assisting businesses with setting up and obtaining cryptocurrency licenses. Our expertise and experience streamline the process, ensuring a smooth journey toward compliance. We have completed over 500 licenses in Estonia and Lithuania com







The Licensing Process

The process of obtaining a cryptocurrency license in Lithuania typically takes between 30 to 60 days, making it one of the quickest setups in the industry. Consulting24 can guide you through every step, from the initial application to the final approval. Here's an overview of the licenses available:

  1. Cryptocurrency Exchange License

  2. Crypto Wallet and Custodian Services License

These licenses grant you a wide range of privileges:

  1. Exchange services for various cryptocurrencies.

  2. Over-the-counter (OTC) trading.

  3. Conducting Initial Exchange Offerings (IEOs).

  4. Selling Bitcoin via bank transfer and debit/credit card.

  5. Trading utility tokens.

  6. Facilitating crypto-to-crypto, crypto-to-fiat, and fiat-to-crypto transactions.

  7. Operating a utility token exchange.

  8. Opening a EUR bank account for selling Bitcoin and other cryptocurrencies.

  9. Issuing your branded debit card.

  10. Engaging in crypto fund activities.

  11. Offering custodial services.

  12. Trading futures and shorts.

  13. Minting and trading non-fungible tokens (NFTs).

  14. Participating in staking activities.

  15. Facilitating Euro deposits and withdrawals.

Requirements for Licensing

To obtain a cryptocurrency license in Lithuania, you will need to meet specific requirements:

  1. Share capital of €125,000, with 25% (€31,250) to be increased immediately and the remaining 75% (€93,750) within one year.

  2. A bank account in Lithuania.

  3. Appointing a local director (who can be any resident) and an AML officer.

  4. A virtual office for your business operations.

Real-World Use Cases

The flexibility and scope of licenses in Lithuania offer numerous use cases for businesses and entrepreneurs:

  1. Launch your cryptocurrency exchange platform.

  2. Provide secure custodial services for digital assets.

  3. Conduct initial exchange offerings (IEOs) to fundraise.

  4. Facilitate convenient Bitcoin sales through bank transfers and debit/credit cards.

  5. Trade a wide range of utility tokens.

  6. Offer a diverse array of crypto-to-fiat and fiat-to-crypto trading services.

  7. Create and manage your utility token exchange.

  8. Establish a EUR bank account for cryptocurrency sales.

  9. Issue branded debit cards for your users.

  10. Manage cryptocurrency funds for investors.

  11. Offer custodial services to safeguard digital assets.

  12. Engage in futures and shorts trading.

  13. Mint and trade unique non-fungible tokens (NFTs).

  14. Participate in staking activities to earn rewards.

  15. Enable Euro deposits and withdrawals for users.


Lithuania Vs. Dubai crypto licenses

Comparison of Crypto Licenses in Lithuania and Dubai
Comparison of Crypto Licenses in Lithuania and Dubai


Conclusion

Lithuania's crypto licensing opportunities, combined with Consulting24's expert guidance, offer a promising pathway for businesses and individuals seeking to operate in the cryptocurrency space. With a favorable regulatory environment, efficient processes, and a diverse range of use cases, Lithuania continues to establish itself as a top choice for crypto entrepreneurs and investors alike.

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