LICENSE OF THE CRYPTOCURRENCY EXCHANGE AND CRYPTOWALLET OPERATOR
Lithuania has created almost ideal conditions for fintech business launch, and favorable environment for fintech startups development; the procedure for license issue has been also simplified. This is one of few European Union (EU) and European Economic Area member states, which offers license for virtual currency transactions.
Although there is no created internal legal base for work with cryptocurrencies in Lithuania, anyway it has introduced licensing of companies, which deal with cryptocurrency exchange and servicing of cryptocurrency storing wallets. World’s biggest Cryptocurrency Exchange Binance is authorized in Lithuania and it provides services to European customers from this country.
Legal entities registered in Lithuania have a right to register primary placement of coins and perform public distribution of tokens, successfully offering virtual coins to investors in all EU states.
Types of license
Legal entities, performing cryptocurrency activities, are required the following:
The registered companies in Lithuania may submit an application for the registration of cryptocurrency-related activity. The registrar of legal entities of Lithuania should be informed on conducting of events related to cryptocurrency, as well as on the measures taken in order to prevent money laundering. The activity of operators of cryptocurrency exchange and wallets for cryptocurrency keeping is controlled by the Financial Crime Investigation Service (FIU).
The main requirements towards legal entities:
InLegal PRO services
Creation of cryptocurrency projects is a lengthy process with variety of nuances that are not easy to deal without professional assistance.
InLegal PRO Company provides full range of services of authorization of cryptocurrency exchange operator and cryptocurrency wallet, including registration of companies and affiliated persons of companies in Lithuania. If you need cryptocurrency exchange license, our specialists will develop the best solution for you. We can offer consultations and provide legal support of cryptocurrency projects of any level of complexity.