Crypto license in Lithuania

Lithuania is a prime location for launching a successful fintech business. The country's Central Bank actively supports financial technology and non-bank payment services, making it a desirable location for companies looking to operate in the virtual currency market. In the past year, the number of fintech companies has increased by 40%, attracting the interest of large international players.

Crypto License in Lithuania:

Lithuania is one of the few European Union states that offers a licensing and authorization procedure for virtual currency companies. Though an integral legal framework for working with cryptocurrencies is not yet in place, companies involved in cryptocurrency exchange and maintenance of wallets for storage of cryptocurrencies can apply for two types of licenses:

- Crypto Exchange License: A company or branch of a company gets the opportunity to exchange digital currency and receive a commission.

- Crypto Wallet Exchange: A company or branch of a company can manage customer wallets for the storage of crypto-currency.

	Crypto Exchange License	Crypto Wallet Exchange
Definition	Opportunity to exchange digital currency	Manage customer wallets for the storage of cryptocurrencies
Licensing requirements	Impeccable reputation of members of the board and owners, compliance with AML Policy	Applicants must demonstrate a solid reputation of their board members and owners, and comply with Anti-Money Laundering (AML) policy
Type of services offered	Exchange digital currency and receive a commission	Manage customer wallets for the storage of cryptocurrencies
Benefits	Access to a favorable environment for fintech startups, simplified licensing procedure for obtaining necessary permits	Offers access to a supportive ecosystem for fintech startups, and a streamlined process for obtaining the required licenses
Central Bank's requirement	Separate activities of traditional financial institutions and companies dealing with cryptocurrencies	Separate activities of traditional financial institutions and companies dealing with cryptocurrencies

The Central Bank of Lithuania insists on separating the activities of traditional financial institutions and companies dealing with cryptocurrencies. However, virtual assets can still be in the turnover of traditional market players. Companies operating in the cryptocurrency market must meet certain requirements, such as the impeccable reputation of members of the board and owners, and compliance with Anti-Money Laundering Policy (AML Policy).

Benefits of Obtaining a Crypto License in Lithuania:

- Opportunity to exchange and store digital currencies with a crypto license in Lithuania

- Access to a favorable environment for fintech startups in Lithuania

- Simplified licensing procedure for obtaining necessary permits in Lithuania

- Separate activities of traditional financial institutions and companies dealing with cryptocurrencies in Lithuania

- Compliance with Anti-Money Laundering Policy (AML Policy) in Lithuania

- Opportunity for traditional market players to still participate in the turnover of virtual assets

Demire Inc offers comprehensive services for obtaining cryptocurrency business licenses in Lithuania.

Our services include:

- Preparation of documents for registration of a legal entity

- Obtaining authorizations of the cryptocurrency exchange operator and the operator of the depository crypto wallets

- Accounting services for crypto companies

- Preparation/adoption of AML, KYC policies, and procedures based on FCIS requirements

- AML audit

- FCIS report preparation

Contact us today to obtain your crypto license in Lithuania and take advantage of the country's favorable environment for fintech startups. Our team of experts will guide you through the process and help you stay ahead of the curve in the rapidly evolving world of cryptocurrency.

Crypto license in Lithuania