The Lithuanian cryptocurrency license is trustworthy and opens up the door to European markets. It will allow a foreign investor to legally work in the country's financial markets. It can be legally used in transactions by local financial market participants. The country is currently working on laws to protect cryptocurrency investors and combat fraud. Today, we will discuss obtaining a Lithuania cryptocurrency license to conduct crypto-activities.

Types of license and requirements for the recipient

You can apply for two cryptocurrency permits at the same time according to current legislation. A cryptocurrency exchange operator is a company that exchanges cryptocurrency owned by third parties. They also receive a commission. Operator of cryptocurrency depository wallet (when the company stores or manages customers' digital assets). A number of requirements can be met by a Lithuanian crypto license company:

• Customer identification and verification
• Notifying the Financial Investigation Service of suspicious transactions
• Maintain customer records and data, appoint an AML officer
• Local MLRO to be appointed. Must have AML experience, and be a Lithuanian resident.
• Implementation of procedures and policies for internal control based on the requirements

The business must meet the loyal requirements of the Lithuanian Central Bank as well as other state-level institutions during its first year of operation. A further advantage to opening a business in Lithuania is the possibility of quickly obtaining a residence permit.

Final words

Our services can help you simplify the process of registering a cryptocurrency company and getting a permit to operate it. Our experts will answer all your questions and help you complete the application. We keep up-to-date with all developments in other jurisdictions so we can quickly respond and use modern financial technology in every subsequent work process.