Cryptocurrency Q&A
How long does it take to get a crypto license in Lithuania?
How long does it take to get a crypto license in Lithuania?
Maria
Wed Jul 17 2024
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6 answers
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Inquiring minds want to know: what is the estimated timeline for obtaining a crypto license in Lithuania? Given the evolving regulatory landscape and the specific requirements set forth by the authorities, is there a standard processing period that can be anticipated? For those seeking to enter the crypto space in Lithuania, understanding the duration for such a license is crucial for planning and execution. So, how long does it actually take from application to approval?
6 answers
GinsengBoostPower
Fri Jul 19 2024
The average duration for the review of a regulator application stands at 2-4 weeks.
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Alessandra
Thu Jul 18 2024
For entities aiming to establish a crypto license in Lithuania, offering services such as cryptocurrency exchange and/or wallet services, it is imperative to initially form a limited liability company (UAB) within the country.
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StormGlider
Thu Jul 18 2024
The review period then commences, during which the authorities evaluate the applicant's suitability, compliance practices, and business model.
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Pietro
Thu Jul 18 2024
The UAB formation serves as the foundational step towards obtaining the necessary regulatory approval for cryptocurrency-related operations.
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Valentino
Thu Jul 18 2024
This process ensures that the entity meets the legal and compliance requirements set forth by the Lithuanian authorities.
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