Obtaining a crypto exchange license is a mandatory condition that must be fulfilled by companies wishing to legally provide services for the exchange, circulation, transfer and storage of cryptocurrency to their clients using digital channels for transmission.
The importance of cryptocurrency exchange license
Requirements for obtaining a crypto exchange license in Estonia
To get a crypto exchange license in Estonia, you will need to fulfill key legislative requirements:
- Register a local office and hire local staff.
- To open a bank account.
- At least 1 member of the board must have Estonian citizenship.
- Confirm the relevant qualifications and experience of the compliance manager.
- Develop risk monitoring and minimization procedures and comply with AML/KYC policies.
- Annual filing of financial statements is required.
The average list of documents required for the registration of a crypto exchange license in Estonia includes:
- Founding Documents.
- Detailed business plan and financial. forecasts for at least 3 next years.
- A copy of each director’s passport.
- List of shareholders with identification data.
- Confirmation of the relevant qualifications of the company’s management.
- Records of the conviction (not older than 3 months).
- Other documents necessary for licensing, you will be acquainted with experts of the company.