virtual-crypto asset service providers (VASP)
Lithuania currently has quite a favorable regulatory regime for the virtual-crypto asset service providers (VASP). In Lithuania there are 2 types of authorizations for the VASP:
Virtual-crypto currency exchange operator - a legal person or branch established in the Republic of Lithuania that provides services of virtual-crypto currency exchange, purchase and/or sale for remuneration.
Depository virtual-crypto currency wallet operator - a legal person or branch established in the Republic of Lithuania that provides services of management of custodian virtual-crypto currency wallets on behalf of the clients
In Lithuania VASPs are subject to AML and CTF measures. The activities of VASPs are supervised by the Lithuanian Financial Crime Investigation Unit.
- We are providing legal support to our clients during mandatory authorization of virtual-crypto assets service providers process, preparing necessary authorization documentation, helping with company incorporation, representing clients before the relevant government authorities during the authorization procedure and advising on other issues arising during authorization process. Incorporation of new company (including payment account opening) and authorization process can be done faster and remotely without personal presence of the company's shareholders and director in Lithuania.
- Once the authorization process has been successfully completed, we also offer other legal services as required by your needs during the course of your activities.
Click here to find more information about the main amendments to regulation applicable to crypto companies in Lithuania.