Cryptocurrency Exchange Licensing in Europe
The European cryptocurrency exchange license is essential for legal and transparent crypto operations in the EU. MiCA, adopted by the European Parliament in 2023, harmonizes crypto regulations across EU states, effective from mid-2024 to early 2025.
MiCA’s EU-wide framework doesn’t override national laws, which may impose extra requirements on crypto businesses. Selecting a jurisdiction within the EU involves understanding these specific regulations and the nature of your crypto project. Generally, obtaining a crypto license is crucial for operation.
Poland introduced virtual asset regulation as of November 2021. Companies are required to register in a separate state register of cryptocurrency firms if they operate in the cryptocurrency niche. This process is also called obtaining a Polish crypto license. The country boasts fast registration and procedural requirements. Poland has concluded bilateral agreements with 84 countries on the avoidance of double taxation. Thus, it has significantly strengthened its reputation, making it a favorable jurisdiction for cryptocurrency businesses.
Lithuania can be recognized as the best country to set up a cryptocurrency company in Europe. In comparison, the process of obtaining a license here is simple and does not take much time. The state has implemented some of the principles of the MiCa Directive, having a progressive understanding of the economic future. In accordance with the current Lithuanian legislation, it is possible to register a crypto company by paying the required amount of authorized capital, which is 125,000 euros, in installments.
The country does not have a specially developed licensing regime for cryptocurrency businesses. In order to legally engage in this activity, you need to be registered in the Trade Licensing Register. It is administered by the Ministry of Industry and Trade of the Czech Republic. With this license, companies can operate in any country of the European Union. To register a company as an LLC, you do not need to open a corporate account. The minimum authorized capital is only CZK 1 per shareholder.
In Bulgaria, cryptocurrency is not considered a financial instrument and is not regulated by the financial regulator, which means that there is no need to obtain a special license for cryptocurrency activities. Of course, companies are required to comply with anti-money laundering and terrorist financing regulations. In addition, transactions exceeding 15,000 euros must be regulated. Anyone who wants to operate in this niche must obtain an FSC financial license or register a company. As a result, Bulgaria offers economic security, loyal taxation, stable development and access to the EU market.
Legal Support and Registration by Prifinance
Prifinance offers comprehensive legal assistance for acquiring a cryptocurrency exchange license, encompassing the following:
- Legal entity registration, corporate account opening, and acquiring connections.
- Crafting exchange or exchanger software.
- Facilitating software rental.
- Integrating a liquidity provider.
- Locating a local director, AML officer, and other essential staff.
- Identifying an appropriate office space.
- Handling accounting, consolidated financial statements, and audits.
The expertise of Prifinance’s specialists streamlines and enhances the efficiency of the license acquisition process for cryptocurrency exchanges.