Crypto Exchange License

In recent years, as the financial industry has become increasingly, if not entirely centered around technology, we have witnessed dramatic changes in the ways assets are exchanged and managed. As a result, use of blockchain technology has seen tremendous growth over the past few years and is being applied across many sectors.

Consequently, this led to the development of regulatory frameworks across member states of the European Union (EU) and the European Economic Area (EEA) which come into play in the form of crypto currency exchange licenses, necessary for the formation of a successful cryptocurrency exchange business.

Estonia is considered one of the pioneers in introducing solutions for blockchain and crypto-based businesses, necessary for increased investor protection and legal legibility in the budding, groundbreaking crypto space. Estonia has gained a reputation for offering seamless and quick set-up of crypto-oriented companies. 

The most common financial license issued in Estonia is the "Financial Services, providing a virtual currency service License". It allows for the exchange of virtual currency against fiat currencies, as well as provides for virtual currency wallet services. The license is issued by the Estonian Financial Intelligence Unit (FIU), an independent structural unit within the Police and Border Guard Board of Estonia.

For a crypto exchange business to commence operations in Estonia, the exchange must be registered in Estonia or maintain a registered branch office in Estonia, follow KYC procedures, appoint qualified officers (MLRO), etc. Mellius can help you with all these, and more.

In addition, should your specific needs suggest opening your crypto-business somewhere other than Estonia, we can offer solutions in other countries also considered to be key players in the field, including Poland, Lithuania, Malta, Gibraltar and the UK.

Poland is becoming rapidly popular for an efficient and professional license issuance process, Malta offers a comprehensive, stand-alone regulatory framework for the conduct of crypto currency service providers such as exchanges and brokers, while the United Kingdom, with its fintech regulatory sandbox, has attracted many crypto entrepreneurs and maintains a positive reputation.

Mellius provides a variety of corporate services which include:

§  Company formation

§  Issuance of license

§  Bank account opening

§  Guidance on licensing

§  Appointment of qualified officers (i.e MLRO)

§  Establishment of physical presence (where required)

§  Bookkeeping services

§  Accounting services

§  Payroll services

§  VAT services