COREDO > Licensing > Cryptocurrency licence in Lithuania

Cryptocurrency licence in Lithuania

A cryptocurrency licence in Lithuania enables companies to provide services related to the exchange, custody, and management of virtual assets within the country, as well as to lawfully serve clients from other EU member states in compliance with European regulatory requirements. The licence ensures alignment with the MiCA and DORA frameworks, creating a secure environment for crypto businesses. A streamlined application process and a flexible licensing structure make Lithuania an attractive jurisdiction for launching and developing crypto projects within the European Union.

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Cost of the service
from 34 000 EUR

Over the past few years, Lithuania has transformed into a country with a well-developed financial system and transparent legislation. Crypto-regulation in Lithuania allows for the operation of a reliable business that clients are prepared to trust. One of the key standards is obtaining a crypto license, which permits a company to provide virtual asset services to its clients.

Regulatory and Legal Framework

As a member state of the European Union, Lithuania is implementing European regulations governing the crypto-asset market. The new legislative framework is based on two key acts:

Markets in Crypto-Assets (MiCA) Regulation — establishes uniform rules for cryptocurrency businesses across the entire EU.
Digital Operational Resilience Act (DORA) — aims to enhance the cybersecurity of companies operating in the financial technology sector.

These laws have direct effect within the territory of Lithuania and define the procedures for the licensing and regulation of crypto-service providers. The Bank of Lithuania (BoL) is the national competent authority responsible for ensuring compliance.

License Categories in Lithuania

According to MiCA, crypto-asset licenses are divided into three categories:

01Crypto-Asset Service Provider (CASP)

A legal entity that provides services related to crypto-assets. Licenses are divided into three classes:

Class 1:

Execution of orders for the purchase and sale of crypto-assets.
Placing of crypto-assets.
Receiving and transmission of orders.
Provision of advice.
Portfolio management.
Transfer services for crypto-assets.

Class 2 includes all Class 1 services, plus:

Custody of crypto-assets.
Exchange of crypto-assets for fiat money or other crypto-assets.

Class 3 includes all Class 1 and 2 services, as well as:

Operation of trading platforms.

02Asset-Referenced Token (ART) Issuer

Issues tokens whose value is pegged to assets (e.g., gold, real estate, a basket of currencies).

03E-Money Token (EMT) Issuer

Issues tokens whose value is pegged to a single official currency.

MiCA does not apply to NFTs and certain financial instruments.

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Advantages of Obtaining a cryptocurrency license in Lithuania

Registering a crypto company in Lithuania opens up many new prospects for international business development. This license allows for conducting business throughout the entire Eurozone, meaning the company can promote its services or products almost worldwide.

By utilizing the assistance of COREDO for obtaining a cryptocurrency license, you can expect:

Lawful registration and establishment of your company.

The ability to provide virtual asset-related services in Lithuania.

Properly drafted internal documentation, including AML/CFT policies, a Business Continuity Plan, and other documents required to obtain a CASP license in Lithuania.

Our services and the cost of obtaining a cryptocurrency license in Lithuania

You can choose individual services or a full package for obtaining a crypto license in Lithuania.

01. Initial Project Assessment

5000 EUR + VAT

Provision of information about the requirements.
Analysis of documentation, identification of problem areas, and potential solutions.
Creation of a customised plan for preparing the CASP license application.

02. Establishment of a Legal Entity in Lithuania

3000 EUR + VAT

Preparation of documents for company registration.
Acquisition of a legal address for 1 year.
Payment of state fees and company registration.
Obtaining permits for business operations (excluding the CASP license).
Translation of documents for registration.

03. Application Preparation and Interaction with the BoL

from 29 000 EUR to 49 000 EUR + VAT

The price may vary depending on the case.

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Factors affecting the final cost of COREDO services:

The results of the initial project assessment.
The classes of services planned to be provided under the CASP.

Payment Terms

Advance Payment

40% of the total service cost.

This payment must be made before the "Application and Documentation Preparation" phase.

Interim Payment

40% of the total service cost.

This payment must be made before the "Application Submission and Interaction with the BoL" phase.

Final Payment

20% of the total service cost.

This payment must be made after the "Decision on the Application" phase.

Key Requirements for a CASP License in Lithuania

To obtain a CASP license in Lithuania, the applicant company must meet the following requirements:

Minimum Capital Requirements

Class 1: Minimum requirement — €50,000.
Class 2: Minimum requirement — €125,000.
Class 3: Minimum requirement — €150,000.

The share capital must be fully paid up in monetary form and held in a bank account within the European Economic Area (EEA).

Director(s) / Executive Director(s)

The company must prove that its board members are of good repute and possess the relevant knowledge and experience to manage the business.
The board must consist of at least 2 members.
At least one board member must be a resident of Lithuania.
Board members must have at least 3 years of experience in management positions, including experience in the cryptocurrency sector.
A certificate of no criminal record and documents confirming experience must be provided.

Physical Office

The company must confirm the existence of a physical office within the territory of Lithuania.

Anti-Money Laundering (AML) Officer

An authorized person must be appointed to be responsible for AML compliance. This officer must have experience in the field and work in Lithuania, without holding a similar position in other companies.

Financial Audit Requirement

The company must conduct an audit of its financial statements. An external auditor may be appointed for this purpose.

Segregation of Client Crypto-Assets and Funds

A CASP is obligated to ensure that client funds and crypto-assets are not used for the company’s own purposes and must provide relevant documentation and policies to confirm compliance.

Client crypto-assets must be held in segregated wallets.
Client funds must be held in segregated accounts.

Required Documents for a CASP License in Lithuania

All documents must be submitted in Lithuanian, an English version can be discussed individually.

Documents for Directors/Executive Body/Shareholders

Identity documents (passport, ID card/driver’s license).
Proof of residential address.
Bank statement for the last 6 months or a tax declaration.
Completed KYC forms.
CV and diplomas/certificates confirming experience and qualifications.

Business Plan and Financial Plan

A three-year program of operations specifying the types of crypto-assets and information on where and how services will be provided.

Proof of Capital Contribution

A bank statement confirming the deposit of funds.

Information on Internal Governance and Control

Organizational structure, key personnel, policies, and procedures.

Risk Management Mechanisms

Policies for identifying and managing risks, including the risk of money laundering and terrorist financing.

Technical Documentation

Description of ICT systems, DLT infrastructure, and security measures, including a cybersecurity audit.

Procedure for Segregation of Client Crypto-Assets and Funds

Segregation policies, bank agreements, and statements.

Policy on Custody and Administration of Crypto-Assets (applicable for Class 2)

Description of custody procedures and risk mitigation.

Trading Platform Rulebook (applicable for Class 3)

Trading rules and a system for detecting market abuse.

Commercial Policy and Pricing Methodology (applicable for Class 2)

Description of the methodology for determining the price of crypto-assets.

Order Execution Policy (applicable for Class 1)

Execution policy, monitoring, and quality control.

Proof of Knowledge and Experience of Advisors (applicable for Class 1)

Policies and procedures for persons providing advice or managing portfolios.

Information on Crypto-Asset Transfers (applicable for Class 1)

Details on the types of crypto-assets and the client information process.

White Paper

If applicable.

Action Plan for Obtaining a CASP License in Lithuania

Initial Project Assessment

Our COREDO specialists will request information for a comprehensive assessment of your project, including legal and AML/CFT matters.
Based on the information received, we will determine the application preparation timeline, specialist involvement, and costs.
Timeline: Approximately 1 week.

Establishment of a Legal Entity in Lithuania

Following the initial assessment and agreement on the next steps, we will proceed with the registration of a legal entity in Lithuania.
Timeline: Approximately 2 weeks.

Application and Documentation Preparation

In collaboration with you, we will compile the list of necessary documents for submission to the BoL, taking into account the specifics of your business and service classes.
Timeline: Approximately 2 months.

Application Submission and Interaction with the BoL

After submitting the application, our specialists will monitor the process and respond promptly to requests from the BoL if additional information is required.
Active participation from your side may be necessary to answer inquiries.
Timeline: Dependent on the application review process.

Decision on the Application

The average review period for an application is 3 to 6 months, depending on the BoL’s workload.
After a decision is made, the license will be registered in the BoL’s registry.

COREDO’s support in obtaining a CASP licence

Pavel Kos

Head of the legal department

Basang Ungunov

Lawyer at Legal Department

Yulia Zhidikhanova

Customer Success Associate

By working with COREDO, you benefit from:

In-depth expertise

We understand all the nuances of crypto regulation across different jurisdictions.

End-to-end support

We handle the entire licensing process — from application to registration.

Tailored approach

We customise our solutions to your business model, covering exchanges, brokers, DeFi projects, and other structures.

Post-licensing support

We provide advice on AML, reporting, and regulatory compliance.

Transparency and trust

We operate fully within the law, strengthening your reputation with banks and business partners.

COREDO provides expert guidance at every stage of the licensing process, from the initial project assessment to obtaining the CASP license.

We help you navigate all stages in accordance with the new MiCA requirements, ensuring that all legal, financial, and operational aspects are addressed and that the documentation is prepared to the highest standard.

Our experts will provide you with full support, minimizing risks and expediting the licensing process.

Do you still have questions about obtaining a licence for your business? Get a consultation on CASP licensing in Lithuania today.

Our expert will contact you and explain how to obtain a licence for your business without unnecessary delays.

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