Can My Company Operate and Deal with Crypto Without a License?

If your activity is related to crypto in any way, you need to evaluate if your business needs a license before you start to operate.

Companio only supports a small set of activities involving crypto in our PREMIUM plan.
None of these activities will require you to obtain a license.

If your business activity requires a license, we unfortunately cannot provide you with our services. Activities that we cannot accommodate include:

• NFT-related activities
• ICOs/IPOs
• Launching cryptocurrency exchanges
• Cryptocurrency mining operations

**How to know if you require a license? **

Usually, if your activity includes only:

• Receiving payments in crypto for your services (with a sales invoice).
• Paying for deductible expenses to providers in crypto (with a purchase invoice).
• Investing in supported exchanges. The business must open a dedicated corporate wallet or account.
• Exchanging crypto through approved banking channels (example, Revolut Business). Only for corporate bank accounts that support this exchange within the own balances of the account.

The business must own a corporate wallet for all cryptocurrencies it uses, separated from any other wallet belonging to any particular or other company.

In other cases, or if your business activity involves crypto in a more complicated way, you need to contact a legal firm that can evaluate if your business requires a license. In case of requiring a license, you need to look for another provider that supports your activity.

If you have any questions about this you can contact our Customer Support team.

Updated on: 12/04/2024