Lithuanian Cryptocurrency Exchange Operator License and Cryptocurrency Depository Wallet Operator

Are you thinking of obtaining a Lithuanian Cryptocurrency license? You’ve come to the right place. Currently, Lithuania have two types of cryptocurrency activity authorizations: the first is a Cryptocurrency exchange operator and the second is a Cryptocurrency depository or wallet operator.

Cryptocurrency exchange license. A company with such a license is able to exchange digital currency for capital or vice versa, or cryptocurrency for another cryptocurrency, receiving a fee for the services provided.

In order to obtain such a license, you will need to meet the following requirements

You will need to cooperate with a limited liability company (UAB) in Lithuania. There are many advantages to obtaining a Lithuanian Cryptocurrency license, the procedure is quite simple, and there is no physical office that is required. Furthermore, its low authorized capital of 2500 EUR which is paid during the company formation is very affordable, and the absence of geographical limitations for company work allows the company to conduct business under authorization in almost any country. As you know, Estonian regulation has changed lately, so an alternative is highly recommend.

The following requirements are imposed on companies providing services in the cryptocurrency sector:

  • All clients must do identity checks and identification procedures;
  • Customer data should be available to the regulator;
  • The company should have internal risk assessment procedures;
  • The company must have a KYC/AML compliance officer
  • Reporting to the regulator (Financial Crimes Investigation Service and no criminal records to any of the board members including UBO’s).

Book a meeting with our experts today, and start working on your Lithuanian license.