If your company:
- Offers fiat-crypto exchange to third parties, that is, it offers a service that allows its users to exchange euros, dollars, etc. for bitcoin, ethereum, or any other cryptocurrency.
- Manages the finances of users or clients in cryptocurrencies, that is, it manages wallets of its users or clients that contain cryptocurrencies.
- Pays its employees in Bitcoin, Ethereum, or any other cryptocurrency.
- Has or is preparing its own token with economic value (security) / or is preparing an ICO or similar.
- Wants to launch an exchange, or a wallet service, that owns or manages tokens or cryptocurrency on behalf of its clients.
In any of these situations, your company is a crypto-business and needs to obtain the correct licenses to operate.
On the contrary, if your company only exchanges fiat for crypto privately as an investment in well-known exchanges like Kraken, but without offering this service to third parties, you are not considered a crypto company with the new legislation, and therefore you do not need to obtain the licenses.