Crypto license in Lithuania
Lithuania has created almost ideal conditions for launching a fintech business
The Central Bank supports the development of financial technologies and non-bank payment services. A favorable environment has also been created for the development of fintech startups, and the procedure for obtaining licenses has been simplified. Over the past year, the number of fintech companies has increased by 40%, and large international players are showing interest in the Lithuanian market.
Although Lithuania has not created an integral legal framework for working with cryptocurrencies, it nevertheless introduced licensing of companies involved in cryptocurrency exchange and maintenance of wallets for storing cryptocurrencies, becoming one of the few European Union states that have a crypto license and authorization procedure for a new virtual currency.