Cryptocurrency Business Licenses: When Are They Required?

Your company needs licenses in these cases:

• If you offer services to exchange crypto-currencies to third parties, that is, you offer a service that allows your users to exchange euros, dollars, etc. for bitcoin, Ethereum, or any other cryptocurrency, or between crypto-currencies.
• If you manage the finances of users or clients in cryptocurrencies, that is, you manage the wallets of users or clients, which contain cryptocurrencies.
• If you have or are preparing your own token with economic value (security) / or are preparing an ICO/IPO or similar.
• If you want to launch an exchange or wallet service that holds or manages tokens or cryptocurrencies on behalf of your clients.

A license may also be required in case you do any of the following activities:

• NFT-related activities
• Cryptocurrency mining operations

In any of these situations, you may require a license, and if you do, we are not able to serve your company. We recommend that you consult a legal firm in Estonia to clearly understand if your business requires a license. Otherwise, operating without a license may lead to fines or other legal actions from the authorities.

Updated on: 12/04/2024