Crypto-Companies and Crypto-Licenses

Some aspects to bear in mind for Crypto-companies

Crypto-Companies are subject to a completely different legislation. If your company handles, holds, accepts payments or pays in crypto, you need to know a series of requisites and regulations.

First, what’s a Crypto-Company? Any company that offer services for exchanging, handling, receiving, sending or holding crypto currencies or virtual assets that have economic value to third parties. If your company wants to launch a crypto-exchange, is preparing an ICO for a token, exchanges fiat and crypto currencies for its customers, or pay its employees with Ethereum, you are a Crypto-Company.

If your company only exchanges fiat for crypto internally as an investment, without offering it as a service to third parties, using well-known exchanges such as Kraken, then the licenses are not required.

First, to comply with the legislation, and make sure your accountancy adheres to the most strict legality, you need to obtain some licenses for your company. It’s essential that these licenses are granted before the activity of the company starts to avoid legal problems with the authorities.

These licenses can be considered expensive. Due to the new legislation in effect starting January 2019, not only their prices has been set to thousands of euros, but the requisites to obtain these licenses are more strict. The process may take now up to three months, and require a certain documentation such as criminal records (obtained less than 3 months ago). Additionally, one of you may be required to visit Estonia to have an interview with a FIU representative from the Estonian police.

Your Company In Estonia is here to help

The good news is: we have experience obtaining these licenses and can advise you during the whole licensing process.

Additionally, most traditional banks, and many fintech solutions such as Holvi, Transferwise or Revolut Business don’t work with Crypto-Companies like yours. You will need more friendly solutions. We can help you find the right banking solution for your business.


Finally, the accountancy of these companies is a lot more complex. Due to the volatility of these crypto-currencies, the turnover value of your company will greatly vary from one day to the next. That requires a daily control of these oscillations and is the reason why the accountancy is more expensive than a regular company. Have a look at our prices here.

More information

To know more, don’t hesitate to read the articles we include in this page. Don’t hesitate to write us through our contact form or arrange a consultancy session.

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