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.
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
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