In order to obtain cryptocurrency exchange and wallet licences in Estonia an application must be filed to the Register of Economic Activities. The application must be supported by required documents and information.
Distributed ledgers, blockchains and smart contracts have the potential to transform business, government and society. Our multidisciplinary team provides assistance to those evaluating how innovation may change their industry, counseling on statutory and regulatory compliance, capital raising alternatives, and business transaction assistance.
We provide assistance in opening a bank account for companies operating in the cryptocurrency industry. There’s one bank in Estonia that handles bank account applications for crypto-companies (LHV). For a successful application, the company needs to meet a number of requirements.
The preparation, submission and registration of the prospectus with EFSA, legal support during an ICO. In case a token issued within an ICO represents any kind of security or even in case a token has elements of security, the relevant ICO shall fall under the regulation of Estonian Securities Market Act. In short that means that an issuer shall follow the rules and process of an initial public offer (IPO).
We are able to provide an analysis of the white paper in order to determine the type of tokens that would be issued during the ICO and thereupon comply with Estonian legal framework. Before conducting an ICO it is crucial to be aware of possible tax implications and KYC/AML requirements set forth by the law.
Company’s share capital is paid in an alternative way. Non-fiat currency is used in order to contribute the share capital of a freshly established company.
A preliminary analysis of the proposed business model. The main focus is to guide the client regarding further company registration, getting licences and taxation.
Blockchain technology offers an alternative payment system provided by banks and FinTech companies. While an international bank transfer could take up to 5-7 business days, cryptocurrency payments are nearly instantaneous only taking a couple of minutes. We’ve been developing a BETA version in regards to this for which you can sign up for free.