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How to get cryptocurrency license in Luxembourg?

How to get cryptocurrency license in Luxembourg?

The issuance of a crypto license in the Luxembourg jurisdiction allows its holder to become a player in one of the most prestigious financial markets. The country pays extra attention to the development of modern financial technology in particular, such as blockchain. The local authorities have always considered innovation to be an integral part of the financial sector development. Both local and foreign investors can register a Luxembourg crypto company provided it complies with the country’s Commercial Companies Act. 

Advantages of the Luxembourg jurisdiction for crypto companies

  • Simple company registration;
  • Payment license by an EU country;
  • Tax incentives;
  • Economical and political stability;
  • Access to cooperation with other EU countries;
  • Developed banking system.

Cryptocurrency business regulation in Luxembourg

In Luxembourg, it is the Commission de Surveillance du Secteur Financier (CSSF) that oversees cryptocurrency operations. If a legal entity is interested in launching a crypto exchange here, it needs to obtain a cryptocurrency exchange license issued by the CSSF. Such a permit allows companies to proceed with the following operations:

  • Cryptocurrency exchange;
  • Cryptocurrency storage.

Apart from that Luxembourg issues licenses for:

  • Initial Coin Offering (ICO) and Security Token Offering (STO) ;
  • Cryptocurrency investment funds.

Companies are also authorized to mine cryptocurrencies, however, this activity is not subject to licensing in Luxembourg. 

How to obtain a crypto license in Luxembourg

Companies planning to work with cryptocurrencies in Luxembourg must draft a business plan that contains the information about:

  • Types of activities;
  • Cryptocurrencies in operation;

Other requirements:

  • Company registration in Luxembourg;
  • Local bank account;
  • Luxembourg-based head office and personnel; at least three directors, one of which must be a local resident;
  • KYC and AML policies;
  • Minimum capital (EUR 20,000-125,000 to launch a payment institution in Luxembourg, depending on the type of the provided services; EUR 350,000 for an e-money company registration).

Cost of cryptocurrency application in Luxembourg

The cost of a cryptocurrency license application in this jurisdiction is calculated individually and depends on each client’s needs. The first thing we do is determine the services required by the customer and then come to the total amount that needs to be paid. It means that first, we proceed with detailed project analysis and only after state the cost. To get further information regarding the pricing, please contact our lawyers via the online chat or phone numbers from the “Contacts” section. 

Where to book services on the Luxembourg cryptocurrency license application 

SBSB FinTech Lawyers legal firm offers you assistance in obtaining crypto permits in Luxembourg and other jurisdictions. We work on a turn-key basis which covers a wide range of services. Our experts will provide you with full legal support throughout the registration of an ICO company in Luxembourg along with the application for local crypto licenses. If you want to get an exhaustive consultation on the topic, please text us on our website messenger and we will contact you shortly.  

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