De minimis non curat lex

The law does not care about the little things

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677-55-44

Peterburi tee 47, Tallinn

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Working days – 9:00 – 19:00
Saturday – 10:00 – 15:00
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License for crypto-wallet and cryptocurrency storage

Storage of cryptocurrency and virtual values of third parties

The legal environment of the Republic of Estonia within the framework of the Money Laundering and Terrorist Financing Prevention Act provides for the possibility to offer the clients, on a commercial basis, the services related to the storage of cryptocurrencies and other virtual values on specialized cryptocurrency wallets.

  • Virtual currency wallet service is a service that creates or stores encrypted keys for clients, which can be used to store, manage and transfer virtual currencies.

According to the current legislation, businessmen engaged in the storage of cryptocurrencies, crypto-assets, tokens and other virtual currencies owned by third parties, are obliged to comply with measures to combat money laundering and terrorist financing (including AML/KYC procedures) and obtain a state license of the provider of a virtual currency wallet service.

Cryptocurrency wallet license (crypto-license) in Estonia

  • Regulator: Office for money laundering prevention (Financial Intelligence Unit, FIU)
  • Legal framework: Money Laundering and Terrorist Financing Prevention Act
  • Period of consideration for the application: up to 30 working days

On the basis of cryptocurrency license, it is possible to:

  • Store crypto-currency belonging to the clients on specialized wallets;
  • Make cryptocurrency transfers between clients’ wallets;

Obtaining a license for the provision of crypto-wallet services

Filing an application and obtaining a license of provider of a virtual currency wallet service (crypto-license) is a procedure established by law that requires care and strict compliance with certain procedural and material requirements arising from the relevant legal acts.

The lawyers of our office will provide you with full legal support in the issue of obtaining a license of provider of a virtual currency wallet service, including consultation on all the requirements established by law to the license applicant and his commercial activities, as well as prepare and provide the regulator with the appropriate application with all the supporting documentation necessary for the successful completion of the license obtaining procedure.

Contact us

If you have any questions or you are interested in the possibility of obtaining a license for cryptocurrency and other virtual values storage (cryptocurrency license) – please contact us using the following communication channels:

Telephone: +372 6775544
E-mail: klienditugi@kalashnikov.ee
Skype: kalashnikov.ee
Viber|WhatsApp|Telegram: +372 82088888

We will be happy to answer your questions and provide you with high-quality legal support in obtaining a license for cryptocurrency and virtual values storage.

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