The EU member state of Lithuania has a legal framework for acquiring a crypto license for businesses. The regulation regarding crypto assets in Lithuania is flexible enough to make it an attractive option if the goal is to have crypto legally in the European Union.
There are two options: register a legal entity as a brand now, or buy a ready-made solution - a shelf company with crypto authorization setup (banked and unbanked available).

Crypto Exchange or Crypto Wallet License
Lithuania has created an excellent environment for FINTECH business. The jurisdiction has a startup environment where two types of cryptocurrency licenses have been introduced – Crypto Exchange (license for cryptocurrency exchange operators) and Crypto Wallet (operators of cryptocurrency custodians). Current regulation has greatly simplified the process of acquiring a crypto license.
Crypto Exchange License in Lithuania
A company, branch or registered legal representative has the right to exchange between digital currencies and receive a commission for exchange services, in addition to services related to the exchange of fiat currencies into cryptocurrencies and vice versa.

Crypto wallet license in Lithuania
A company, branch or registered legal representative has the right to manage and hold cryptocurrency wallets owned by consumers and other third parties.
License Registration
Companies or branches can apply for the Lithuanian crypto license. This applies regardless of whether the company is based in the EU or not.
The Central Bank of Lithuania is aiming for a strict separation of traditional financial institutions and cryptocurrency service providers – companies that buy, sell, store or exchange cryptocurrencies. However, digital assets can be reported in the sales of traditional market participants.
The central bank has an extensive framework to encourage the development of non-bank payment services.

Continuation Requirements
A company operating under cryptocurrency regulation must follow certain guidelines. Requirements include:
Customer identification and verification procedures for all customers
Thorough accounting and records of customer data must be maintained
Mandatory introduction of an internal control procedure - transaction monitoring
AML (Anti-Money Laundering) Policy Officer must be appointed
Mandatory reporting to the Lithuanian FCIS (Financial Crime Investigation Service).