Prospects for working with a cryptocurrency license in Estonia
More and more clients want to work with highly profitable instrument of the financial market. A cryptocurrency license in Estonia is just the tool that allows you to work with cryptocurrencies all over the world.
Cryptocurrency is regulated in Estonia at the legislative level. The body responsible for the regulation of cryptocurrency is the Bureau of Anti-Money Laundering. The main law regulating operations with cryptocurrencies is the “Law on combating money laundering and financing of terrorism”.
There are currently two cryptocurrency licenses in Estonia:
- The first is a cryptocurrency exchange, a cryptocurrency exchanger, ICO.
- The second is the creation of virtual wallets for storing cryptocurrencies.
The cost of obtaining 2 licenses: 4300 EUR
Cost of company registration: 1700 EUR
Terms of obtaining a license: 6-8 weeks
The cost also includes the development of procedural documentation that will be required to obtain documentation: AML, terms and conditions, KYC.
If you plan to engage in the exchange of cryptocurrency, your best solution would be to contact IT-OFFSHORE to register a company in Estonia and obtain a license, which extends to the whole European Union.