Crypto License

Lithuania

Lithuania stands out as the top European jurisdiction for the establishment of cryptocurrency-related enterprises. The process of obtaining a Lithuania crypto license is quite simple and fast. The state has the most progressive understanding of the economic future and has already implemented some of the principles of the MiCa Directive. And the current Lithuanian legislation allows registering a cryptocurrency company and paying the required amount of authorized capital (125,000 €) in installments.

Estonia

Estonia stands out from other countries for its progressive support of the cryptocurrency industry and fintech innovation, making it one of the most attractive jurisdictions for cryptocurrency startups and investors.
Crypto license in Estonia has several advantages, including the ability to work in all EU countries and low taxes. Thanks to modern digital infrastructure, the use of electronic signatures, and identification cards, obtaining a license for a cryptocurrency exchange is fast and efficient. Today, virtual currencies are controlled just like fiat money. They have been legalized and put on par with alternative means of payment, which is an advantage compared to the countries where cryptocurrencies operate in a “gray zone”.

Poland

In November 2021 Poland introduced regulation of virtual assets. Companies engaged in this sphere must register in a separate state register of cryptocurrency companies (a so-called Poland crypto license). Moreover, a company must meet relatively simple procedural requirements and the registration period is relatively short.
After signing bilateral agreements with 84 countries of the world to avoid double taxation, the country has confirmed the status of a favorable jurisdiction for crypto-businesses in terms of taxation.

Czech Republic

There is currently no specific crypto license in the Czech Republic.
Nevertheless, to legally conduct cryptocurrency activities, it is necessary to register compulsorily with the Trade Licensing Registry supervised by the Czech Ministry of Industry and Trade. With this license, companies are allowed to operate in any EU country. There is no requirement to open a corporate account to register a company (in the form of an LLC) and the minimum share capital requirement is 1 CZK per shareholder.

Spain

Crypto regulation in Spain is still in development, but on February 17, 2022, the Spanish government adopted a Circular that defines the status of crypto assets and regulates their advertising. Cryptocurrencies are not banned in Spain but are not recognized as legal tender.
Legal activity in the crypto business requires registering as a VASP and obtaining a Crypto License in Spain.
Licensed companies can legally provide services related to the exchange and storage of crypto assets, participate in investment projects, and develop their technology platforms.

Switzerland

In Switzerland, the financial supervisory body FINMA is responsible for regulating cryptocurrencies and licensing blockchain projects. This organization actively cooperates with other government agencies to develop a legislative framework in this area. Cryptocurrencies are recognized as legal assets according to the federal tax authorities. There are various initiatives for the development of the crypto industry in the country, including loyal taxation, support for startups, and development of the technological base. For legal cryptocurrency activities, you need to obtain a crypto license in Switzerland.

Slovakia

For the legal activity of cryptocurrency companies, there are 2 types of crypto license: license for the exchange of cryptocurrency and license for cryptocurrency wallet maintenance and storage. The Slovak government has strict requirements for the regulation of cryptocurrency and a license for this activity. Anti-money laundering (AML) legislation and KYC regulations apply to regulation and licensing. In March 2018, Slovakia passed laws on cryptocurrency. Following these laws, all profits that were derived from cryptocurrency transactions fall under taxation. Despite several strict rules, the Slovakia crypto license remains attractive to investors: there are no citizenship requirements, no restrictions on capital flows, and no currency controls. The tax is 22%, but it can be reduced to 0.5% with an agent scheme and proper accounting.

Portugal

Companies wishing to engage in cryptocurrency activities in Portugal are classified as VASPs (virtual asset service providers) and must obtain a license from the Banco de Portugal before starting operations. Unlike most jurisdictions, no minimum share capital is required to obtain a crypto license in Portugal. In addition, there are no restrictions or requirements for the declaration of cryptocurrency assets and taxation of cryptocurrency income for individuals.

Bulgaria

There is no need to obtain a special crypto license, as cryptocurrency is not considered a financial instrument and is not regulated by a financial regulator. However, companies have to comply with anti-money laundering and anti-terrorist financing regulations and regulate transactions above 15,000 €. To start, one must register a company or obtain a financial license from the FSC. Bulgaria offers stable foreign trade development, economic security, access to the EU market, and loyal taxation.

United Kingdom

The UK stands out as an attractive location for cryptocurrency companies due to low taxes, simplified registration, access to the EU, and governmental support for the business ecosystem. The Financial Conduct Authority (FCA) regulates the cryptocurrency market, which involves transaction and business controls to protect users and market integrity. Although there is no mandatory requirement to obtain a UK crypto license, getting permission to operate involves registering with the FCA. The process entails submitting documents such as business plan, risk management policy, and paying a fee.It also requires the company to be registered in the UK, have an office, and comply with AML/CFT policies.

Cyprus

Running a cryptocurrency business in Cyprus requires a Cyprus crypto license, which can be a complicated process. However, licensing offers several advantages: clear regulation, an attractive tax system, a variety of licenses, recognition of a wide range of financial instruments, an active crypto ecosystem, and access to banking services. To obtain a license, companies must be registered in Cyprus, have a physical office, a local bank account, a qualified team, comply with EU directives, and have adequate customer records and data security systems. CySEC expects companies to develop AML policies and establish effective company management and operational procedures.

MSB Canada

FMSBs and MSBs are two types of financial businesses in Canada that must register with The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and comply with their reporting and recordkeeping obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). An FMSB is a non-banking institution that provides financial services outside of Canada and an MSB provides financial services domestically. Canada MSB license holders have advantages such as no minimum authorized capital, a high level of economic freedom, a sound banking system, and access to a large domestic market with minimal regulatory costs.

UAE

Registering a cryptocurrency exchange in the UAE is becoming a popular option due to the free zones where businesses can trade and store cryptocurrency. Crypto Licenses can be obtained in the following zones: DMCC, DAFZA, ADGM, and IFZA. The requirements, conditions, and features of a crypto license in Dubai depend on the selected zone.The UAE government recognizes the possible risks associated with crypto assets, but the country is attractive for cryptocurrency businesses due to loyal taxation (corporate tax, dividends, and personal income tax – 0%), full legalization of cryptocurrency, and the absence of import and export tax.

Kazakhstan

Kazakhstan now has a complete system for regulating cryptocurrency activities, and the government is actively accepting applications for crypto licenses. On April 1, 2023, the Law on Digital Assets came into force, which created a legal framework to control the issuance and circulation of digital assets in the country. The law allows issuing and circulating unsecured digital assets through the Astana International Financial Center (AIFC). Crypto license in Kazakhstan holders providing financial services through AIFC are exempt from tax payments until January 1, 2066.

Georgia

To obtain a crypto license in Georgia, you first need to incorporate a company.It is recommended to do it in the Free Industrial Zone (FIZ) because of preferential taxation and other favorable conditions. At the moment, the local cryptocurrency sector is controlled but not regulated. Individuals do not need a special permit to work with virtual currency; commercial companies must obtain a crypto license. The process of registering a company and obtaining a license takes only 2-3 weeks.

Hong Kong

Hong Kong topped the global “crypto-readiness” ranking in 2022, surpassing the US and Switzerland, thanks to its high number of blockchain startups and cryptocurrencies per capita. Aiming to become a global hub for the crypto industry, Hong Kong has actively funded blockchain projects, developed a regulatory framework for cryptocurrency exchanges, and is promoting the use of blockchain technology through The Hong Kong Monetary Authority (HKMA) and the e-HKD pilot program. The introduction of new regulations in April 2023 requires all virtual asset service providers to obtain a Hong Kong crypto license, highlighting a robust regulatory framework and further promoting the development of the crypto ecosystem in the region.

Singapore

Singapore is building its reputation as one of the most attractive jurisdictions for cryptocurrencies, offering clear regulation and support for innovation. As an important financial center with a favorable tax regime, Singapore attracts cryptocurrency exchanges by providing licenses and guaranteeing transparency of operations. The Payment Services Act 2019 requires exchanges to obtain a crypto license in Singapore to exchange crypto and fiat currencies, building trust and reputation in the global financial industry. To obtain a license, companies must meet the regulator’s requirements, including being registered in Singapore, having an office and resident director, and adhering to risk management and anti-money laundering policies.

Gibraltar

Gibraltar stands out as an attractive jurisdiction for cryptocurrency companies due to its flexible regulatory structure and favorable business environment. The country offers clear opportunities for ICOs, cryptocurrency exchanges, and wallet providers, strengthening its position in the blockchain community. With low taxes and a specialized legal framework to regulate cryptocurrencies, Gibraltar attracts leading crypto platforms such as Huobi and Coinfloor. The recognition of cryptocurrencies as a means of payment, low tax burden, and strict anti-money laundering measures make Gibraltar ideal for crypto businesses. Obtaining a Gibraltar crypto license here promises access to global markets and support for an innovative ecosystem while requiring high standards of investor protection and operational transparency.

El Salvador

El Salvador is attracting crypto business attention as the first country to officially recognize Bitcoin, offering tax incentives for licensed companies. Here, company registration, business plan development, and AML/KYC policies are required to obtain an El Salvador crypto license, making it easier to do business and invest in cryptocurrencies. El Salvador’s regulation supports transparency, investor protection, and effective financial crime risk management, creating a favorable environment for cryptocurrency startups and international expansion.

Labuan

Labuan, a federal territory of Malaysia, stands out as a favorable jurisdiction for cryptocurrency companies due to its low taxation and supportive regulatory environment. In 2018, the Labuan Financial Services Authority began granting licenses to cryptocurrency exchanges, making it easier to engage with international markets with a corporate tax rate of just 3%. Labuan offers transparent operations, access to global markets without the need for a local partner, and the ability to utilize Malaysia’s 70+ tax treaties. Obtaining a Labuan crypto license for cryptocurrency opens doors for international crypto businesses with convenient conditions for growth and expansion.