Crypto License in Lithuania – A Complete Guide
Introduction
Lithuania has become a top destination for cryptocurrency businesses, offering a clear regulatory framework, EU market access, and a streamlined licensing process. With the implementation of MiCA (Markets in Crypto-Assets Regulation) in December 2024, Lithuania ensures full compliance with EU-wide crypto regulations, making it an ideal location for crypto exchanges, wallets, and blockchain startups.
Why Choose Lithuania for Your Crypto Business?
- Fast & Cost-Effective Licensing – A straightforward process with low capital requirements.
- MiCA Compliance & EU Passporting – Operate legally across all EU member states.
- Crypto-Friendly Regulatory Environment – A clear, structured framework under the Financial Crime Investigation Service (FCIS).
- Favorable Tax Regime – Corporate tax rates as low as 5% for small businesses.
Types of Crypto Licenses in Lithuania
In Lithuania, businesses providing crypto-related services must register as Virtual Asset Service Providers (VASPs). There are two main types of licenses:
Cryptocurrency Exchange License
- Permitted Activities: Buying, selling, and exchanging crypto-to-fiat and crypto-to-crypto transactions.
Cryptocurrency Wallet & Custodian License
- Permitted Activities: Providing crypto wallet services, managing, and safeguarding private keys for clients.
Both licenses enable businesses to operate within the EU under MiCA regulations.
Step-by-Step Process to Obtain a Crypto License in Lithuania
1. Register a Company in Lithuania
- Requirement: Establish a Private Limited Liability Company (UAB).
- Timeline: 2 – 3 weeks
- Cost: Minimum authorized capital: €2,500
2. Increase Authorized Capital
- Requirement: Raise capital to €125,000, as required for VASPs.
- Timeline: 1 – 2 weeks
- Cost: €122,500 additional capital investment
3. Open a Corporate Bank Account
- Requirement: A corporate account is necessary for financial transactions.
- Timeline: Varies by bank
- Cost: Banking fees apply
4. Appoint Key Personnel
- Requirement: Designate key functionaries, including:
- AML Compliance Officer – Manages anti-money laundering policies.
- Timeline: Concurrent with company registration
- Cost: Depends on hiring requirements
5. Develop Internal Compliance Policies
- Requirement: Prepare AML/KYC procedures and risk management policies.
- Timeline: 1 – 2 weeks
- Cost: Legal & consultancy fees apply
6. Submit Application to the Financial Crime Investigation Service (FCIS)
- Requirement: Submit business details, compliance policies, and company structure.
- Timeline: Approval process: 1 – 2 months
- Cost: Application fees apply
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MiCA Compliance & Regulatory Framework
With MiCA coming into effect in December 2024, Lithuania ensures that all crypto businesses comply with EU-wide regulations, including:
- Stronger Investor Protection – Enhanced security measures for user assets.
- Market Integrity & Transparency – New rules to prevent market manipulation & insider trading.
- Prudential Requirements – Mandatory capital reserves for financial stability.
Compliance Deadline: December 30, 2025 – All Lithuanian VASPs must fully comply with MiCA.
What This Means for Crypto Businesses in Lithuania
Opportunities:
- Legal clarity & strong EU market positioning.
- MiCA compliance ensures cross-border crypto operations.
- Increased investor confidence & credibility.
Challenges:
- Ongoing compliance reporting obligations.
- Adapting to new regulatory requirements under MiCA.
- Potential increase in operational costs for compliance & auditing.
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