Cryptocurrency license
Under a Virtual Currency Service Provider license, an Estonian company can operate in a wide range of crypto-businesses:
- Generate private keys/wallets
- Custodial services of private keys
- Crypto-exchange
- ICOs
What can you do with a Crypto license?
- Generate private keys/wallets
- Provide custodial services of private keys
- Run a crypto-exchange
- Initial Coin Offering
What are the general requirements?
- Minimum share capital: EUR 12.000
- One local director/compliance officer
- The shareholders and members of the board must have an impeccable business reputation
- Permanent establishment in Estonia
- Compliance with the anti-money laundering and counter-terrorist financing law and regulations
- GDPR Compliance
What is the timeframe?
Once the application has been submitted a decision on the application for a financial institution license is made in no more than 60 working days, but this can be extended up to 4 months.
In our experience, the decision can be expected in 4/6 weeks.
