Exchange services using digital currency must have a license to conduct such activities. A license for a crypto-exchanger (crypto-exchange) allows you to conduct transactions with digital money, convert them into fiat currencies and vice versa, accept money from customers and perform other operations provided for by the permit.
Crypto exchanger licenses: which jurisdictions are the most popular
SBSB Law Firm recommends the following jurisdictions for Lithuanian residents in which to obtain a license for a cryptocurrency exchanger:
- Hong Kong;
- Malta, etc.
So, if you are a citizen or resident of Lithuania, it is advisable to issue a license in this particular jurisdiction. At the same time, you can consider others, compare the conditions for obtaining and cost. We also help citizens of other countries – Germany, Italy, Spain, Great Britain, etc.
What you need to get a license for a crypto exchange in Lithuania
To obtain a permit, you must meet the conditions:
- Establishment of a Lithuanian company;
- Availability of authorized capital;
- Fulfillment of requirements for founders, shareholders, directors (education, experience, reputation);
- Availability of a business plan;
- Compliance with KYC/AML policy;
- Hire a local AML officer;
- Availability of hardware and software;
- Bank account;
- Pay state fees.
Benefits of Lithuanian jurisdiction
Lithuanian jurisdiction has a number of advantages for crypto business:
- Loyalty of the regulator that issues licenses for a crypto exchanger;
- Low costs for obtaining and maintaining a license;
- There are no residency requirements for founders, shareholders, directors;
- Fast delivery time – up to 3 months;
- Low taxes;
- The license can be obtained remotely;
- No requirement for a local office.
How to get a Lithuanian license for cryptocurrency exchange
SBSB law firm offers you to get a Lithuanian crypto license from scratch on a turnkey basis. The lawyers of this company provide legal support to the client up to obtaining a license, resolve all bureaucratic issues with the regulator, and so on. Contact SBSB specialists to start a cryptocurrency business or obtain a license for a crypto exchange or wallet. To do this, you can write toTelegram chat on the official website of the company, send an online application or call the numbers listed in the “Contacts”.