Lithuania - August 5, 2022 —
Lithuania’s crypto-friendly policies make the country an ideal place to invest in cryptocurrencies and register a crypto company.
Corporate law firm AdamSmith.lt guides new and established cryptocurrency companies through the process of registering a crypto license in Lithuania. Thanks to its crypto-friendly corporate policies, the country has become a crypto investment hub among Western European nations.
Lithuania has a low taxation rate, and its government supports blockchain technology. For example, in 2018, the country developed the LITH token, a native cryptocurrency, for various e-government services such as online voting, e-tax, and e-health records. The government’s adoption of blockchain technology has created a unique financial ecosystem that encourages private businesses to use the technology.
In addition, the Central Bank of Lithuania approves the development of crypto companies and other financial technology (fintech) companies, which makes obtaining a crypto license in Lithuania simple and cost-effective. Furthermore, one does not have to be a Lithuanian resident to apply for a crypto license.
AdamSmith.lt helps crypto companies register their firms in Lithuania and get an authorization license in 30 days. Its team of certified lawyers, economists, and consultants supports companies through all stages of the licensing process, from the initial consultation to the appointment of an anti-money laundering (AML) specialist.
Lithuania offers two types of crypto licenses:
- A cryptocurrency storage wallet license, which lets companies operate custodial wallets of their customer’s virtual assets
- A license for cryptocurrency exchange, which lets companies provide virtual currency exchange services
Lithuania is a crypto oasis for businesses and startups
Lithuania has become an ideal setting for businesses in the cryptocurrency, fintech, and blockchain industries for several reasons. For instance, it has one of the fastest-growing economies in Europe and is known for its high-quality logistical and IT infrastructure. In addition, the strong economy has made it easier for the government to establish favorable regulations for crypto businesses.
The pro-crypto government has also enacted legislation favorable to the digital currency industry to attract businesses and investors. As a result, blockchain developers have flocked to the country.
For example, in 2017, 35 fintech startups were established in Lithuania, attracting approximately EUR 500 million in funding through initial coin offerings. Only the United States and China exceeded this amount. More recently, Lithuanian fintech companies raised a record of EUR 65 million in 2022 — four times more than the EUR 15.6 million raised in 2020.
Lithuania’s growing crypto economy has driven its universities to produce computer science engineers skilled in blockchain technology. The availability of such top-notch talent is another factor that makes Lithuania an attractive destination for fintech businesses and global investors.
Conclusion
AdamSmith.lt has helped more than 3,000 clients worldwide successfully register companies and get to work. Its team of certified professionals has extensive work experience, and all employees keep up with the latest trends and legislative developments.
The firm has developed a turnkey process for obtaining crypto licenses within 30 days of applying, and more than 300 clients have already successfully received their authorizations. It is the local corporate law firm emerging and established cryptocurrency businesses can trust to help them start operating in Lithuania.
Contact Info:
Name: Sales Department
Email: Send Email
Organization: AdamSmith.lt
Address: Lithuania
Phone: +370 5 207 8525
Website: https://adamsmith.lt/en/finance-and-blockchain/cryptocurrency-license-in-lithuania/
Release ID: 89079344
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