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?

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.