Crypto License in Lithuania

Crypto Exchange License in Lithuania

Unlock Your Potential with EU’s Crypto License

Crypto Related Regulatory Framework in Lithuania is known for being transparent and business-friendly for blockchain industry, providing clear guidelines and requirements for VASP applicants. Additionally, Lithuania offers a favorable tax environment and a well-developed financial infrastructure, which further enhances its attractiveness for crypto entrepreneurs and investors.

We have been specializing in full legal support for crypto projects since 2017, as well as providing financial and AML/CFT consulting services. Over the years of work, we have successfully obtained licenses for crypto related activities in the EU for more than 300 of our clients, including large crypto exchanges and other type blockchain projects.

Getting a European Crypto-Asset Service Provider License

Since 2017, our company has specialized in licensing, consulting, and providing comprehensive legal support for Crypto-Related Business in the EU. Our team of experts has navigated the complex blockchain regulatory landscape, ensuring that our clients remain compliant while optimizing their operations.

We have successfully assisted Numerous Blockchain Ventures in securing the necessary licenses, offering tailored consulting services, and providing ongoing legal support to help them thrive in the ever-evolving Virtual-Assets Industry.

Exploring Crypto Licensing Options in Lithuania

Acquiring a crypto license in Lithuania requires understanding the regulatory landscape and strict compliance. Our experts guide you through every step, from consultation to final approval, ensuring a smooth licensing journey with our experience in EU regulations.

Acquire a Lithuania’s Crypto License

Within the scope of this proposal, we recommend considering Lithuania as a jurisdiction for Obtaining a Crypto License for Virtual Asset Service Provider (VASP) or Crypto-Asset Service Provider (CASP) activities. This European Country offers a favorable Crypto Regulatory Environment, along with a fast and straightforward Licensing Process, making it an attractive option for Blockchain Startups.

We have prepared a comprehensive legal base on AML/CFT issues, developed and implemented efficient algorithms for interaction with regulators, and acquired many partners worldwide, including payment systems, crypto exchanges, and other specialized services. Our extensive network and deep understanding of regulatory requirements make us the ideal partner for companies seeking to establish a foothold in the European market.

Regulating Blockchain in Lithuania

Lithuanian Crypto Regulation: What Legal Norms Regulate VASP Activities?

Lithuania has emerged as a significant player in the Blockchain and Cryptocurrency space, positioning itself as a forward-thinking hub for digital innovation. The regulation of the blockchain industry in Lithuania is designed to foster growth while ensuring security and compliance. The local government has implemented a robust legal framework that not only supports Blockchain Technology but also addresses the challenges associated with it.

Lithuania’s Proactive Regulatory Approach to Blockchain and Virtual Assets

From licensing requirements for cryptocurrency exchanges to comprehensive anti‑money laundering (AML) policies, Lithuania’s regulatory approach aims to create a balanced environment that encourages innovation while protecting users and investors. The country’s commitment to transparency and legal clarity has attracted numerous blockchain startups and established companies looking to leverage Lithuania’s supportive ecosystem.

• Regulatory Authority
  • Financial Crime Investigation Service (FCIS)
• Legislation
  • Law on the Prevention of Money Laundering and Terrorist Financing of Lithuania
  • EU directive 2015/849 (4th Anti-Money Laundering Directive, 4AMLD)
  • EU directive 2018/843 (5th Anti-Money Laundering Directive, 5AMLD)
  • EP and the EU Council Regulation 2023/1114 (Markets in Crypto-Assets, MiCA)

By staying ahead of the curve, Lithuania continues to refine its regulations, adapting to the rapidly evolving landscape of blockchain technology. This proactive stance ensures that Lithuania remains a competitive and attractive destination for blockchain ventures, fostering a thriving community of innovators and entrepreneurs.

Why Lithuania Deserves a Closer Look for Registering Your Crypto Company?

Lithuania, with its straightforward cryptocurrency regulation and reputation as a European center of financial innovation and fintech start-ups, has one of the most attractive jurisdictions in the EU for business-related activities with cryptocurrencies and virtual assets.

Obtain a Virtual Asset Service Provider License in Lithuania

A Lithuanian VASP authorization is the best solution for beginner exchanges or other startups, which will also become a reliable tool for reducing or diversifying regulatory or jurisdictional risks for existing crypto exchanges, exchangers, and blockchain projects of a different focus.

Our company offers an opportunity to Obtain a Cryptocurrency License in Lithuania on a turnkey basis within 30-45 days. Our employees do all the work without involving any intermediaries and third-party specialists.

Opportunities Provided by the Lithuanian Crypto License

Services Provided by a Crypto Company with a VASP License in Lithuania

Under current laws, service providers who want to engage in the exchange and circulation of virtual assets must register their activities and obtain either a “Virtual Currency Exchange Operator” or a “Cryptocurrency Depository Wallet Operator” license.

A Lithuanian crypto license opens up a wide range of opportunities for companies looking to operate in the virtual asset space. With a VASP license, businesses can offer various services related to cryptocurrencies and digital assets, including exchange, storage, and transfer. This comprehensive license allows companies to cater to the growing demand for crypto‑related services while operating within a well-defined legal framework.

VASP/CASP License in Lithuania

Crypto service providers, also known as Virtual Asset Service Providers (VASPs), are authorized to provide the following services, subject to regulatory compliance and licensing requirements:

• Virtual Currency Exchange Operator

  Shall mean a legal person who provides services of virtual currency exchange, purchase and/or sale for remuneration, including:

  • Crypto vs Fiat Exchange
  • Fiat vs Crypto Exchange
  • Crypto vs Crypto Exchange
• Custodian Virtual Currency Wallet Operator

  Shall mean a legal person who provides services of management of custodian virtual currency wallets on behalf of the customers, including:

  • Virtual Assets and Crypto Storage Service
  • Crypto Transfer Service

One of the key advantages of obtaining a VASP license in Lithuania is the ability to provide a full suite of cryptocurrency services to clients. This includes facilitating the exchange of virtual currencies for fiat money and vice versa, as well as enabling crypto‑to‑crypto trading pairs.

Additionally, licensed companies can offer secure custodial services for digital assets, ensuring that customers’ funds are stored safely and can be accessed when needed. By operating under a VASP license, blockchain businesses in Lithuania can establish trust with their clients and demonstrate their commitment to regulatory compliance.

Requirements for Crypto Companies Operating in Lithuania

Navigating the Legal Landscape for Virtual Currency Businesses

Blockchain business representatives, known as Virtual Asset Service Providers (VASPs), are held to a high standard due to the unique characteristics and elevated risks associated with the cryptocurrency industry, particularly in the context of combating money laundering and terrorism financing.

To operate legally in Lithuania, VASPs must adhere to a comprehensive set of requirements designed to ensure the integrity and transparency of their operations. These requirements cover various aspects of the business, from financial obligations to the qualifications of key personnel and the implementation of robust internal policies and procedures. By meeting these stringent criteria, VASPs can demonstrate their commitment to regulatory compliance and establish trust with both customers and authorities in the Lithuanian market.

• Share Capital

  Lithuanian legislation stipulates that the share capital of a licensed company must be at least 125,000 euros. However, the local Commercial Code allows for the formation of share capital in such a way that 25% of the declared cash amount is contributed at the initial stage, and the remaining 75% must be contributed within one calendar year.

• Directors, shareholders, and beneficiaries

  Everyone involved with a licensed company must have a flawless business reputation and a clean criminal record, including financial or fiscal offenses.

• Internal AML/CFT policy and risk management

  Licensed companies must develop and implement effective AML/CFT measures into their internal activities, which must include and regulate the following instances:

  • the procedure for identifying the client and applying security measures to them;
  • the procedure for tracking business relationships and regular updates of customer information;
  • the procedure for screening and monitoring transactions and client activities;
  • the procedure for applying international financial sanctions and restrictive measures;
  • the procedure for assessing risks related to company activities and the policy for managing identified risks;
  • the procedure for submitting a notice and information to the FCIS;
  • the procedure for internal control and complying with the AML/CFT measures by the employees.
• Qualified MLRO/AML officer

  A licensed company must hire a qualified AML officer (Compliance Officer), also known as MLRO (Money Laundering Reporting Officer), to communicate with the FCIS and inform the regulator about suspicious transactions. A candidate for the position of an AML officer must have the knowledge and competence in the AML/CFT field, speak sufficient Lithuanian, and understand the Lithuanian legislation.

• Obligation to notify and inform the regulator of suspicious transactions

  Companies that work based on a Lithuanian authorization must notify the FCIS about suspicious or unusual transactions and inform the FCIS about other instances and circumstances indicated in legal acts and regulator guidelines. One of the unique features of the Lithuanian AML legislation is the obligation to inform the FCIS of all completed virtual asset transactions if the value of the indicated transaction is equal to or exceeds 15 000 euros or an equivalent amount in another foreign or virtual currency.

• Obligation to store customer and transaction data

  All Lithuanian licensed companies are obligated to comply with AML/CFT measures, therefore they must store customer data, information about transactions made by them, and other significant data during the entire period of existence of business relationships with the client, as well as for 8 years from the date of their termination.

We will carefully analyze all the details and business flows of your project, contribute to the development and implementation of effective AML/KYC principles, and offer the most rational organizational solutions for getting a license to work with cryptocurrencies as soon as possible.

How to Apply for a Crypto License in Lithuania

Main Steps for Obtaining a Lithuania’s Crypto License

The process of getting a VASP License in Lithuania consists of several steps: submitting a notice to the state authorities about the intention to conduct activities for the exchange or storage of virtual assets, registering relevant activities in The Register of Legal Entities of Lithuania, and performing other procedures and formalities, which are listed below for your information:

1. 1

   Establishing a Company in Lithuania

   The very first step on the way to Obtaining a Crypto License is the registration of a company in Lithuania. To conduct cryptocurrency activities and obtain a Lithuanian authorization, it is best to register a limited liability company (lit. Uždaroji akcinė bendrovė or UAB.) As part of the registration process, a company must have a share capital of at least 125 000 euros in the administrative account, which is created at a local bank or through a payment system (EMI or PSP).

   Lithuania’s regulatory framework allows the share capital to be contributed in parts over 1 year – for initial registration of the share capital, only 25% of the declared amount needs to be contributed.

2. 2

   Develop Comprehensive Internal AML/CFT documentation

   An essential condition for obtaining a crypto authorization in Lithuania is developing and implementing effective AML/CFT measures into the company’s internal activities, evaluating risks, and managing identified risks.

3. 3

   Registering Cryptocurrency and Virtual Asset Exchange Activities

   A company that wishes to obtain a crypto authorization in Lithuania must inform the state authorities of its intentions and register itself as a “virtual currency exchange operator” and/or a “cryptocurrency depository wallet operator” in The Register of Legal Entities, and receive a corresponding note on the company’s register card. By applying for registration, the licensed company and persons related to it confirm that they are familiar with the AML/CFT legislation and are committed to respecting it.

4. 4

   Setting Up a Payment Account

   Every company that has received a virtual asset service provider license needs a reliable payment solution for settlements with clients. We offer various options for opening administrative accounts for blockchain projects through banks or EMI/PSP payment systems, which are acceptive of high risks and representatives of the blockchain industry.

5. 5

   Involving a MLRO and AML officer

   MLRO/AML officer’s main responsibility is to represent the interests of the entity to the regulator (FCIS) and to submit notices of suspicious transactions to the regulatory authorities. We will help you find a competent candidate for the MLRO position in your company.

6. 6

   Notifying the Regulator

   Companies that provide services for the exchange or storage of virtual assets are to notify the FCIS in written form and provide contact details of the MLRO, the director, and other persons responsible for implementing measures to fight money laundering and terrorist financing.

Our company specialists will offer you the best solutions for getting a VASP authorization in the shortest possible time.

Fully Remote Procedure

Establishing a Lithuanian entity and getting authorization does not require a personal visit to Lithuania as everything can be done through an attorney.

All mentioned activities are done either in person with a company representative or remotely on the basis of a power of attorney.