Articles on: Cryptocurrency
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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
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

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