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Author Topic: Anyone applied for Estonian cryptocurrency exchange/wallet licenses?  (Read 354 times)
Tivadar
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April 30, 2018, 05:06:56 PM
 #21

Anybody?
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trupero_uno
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May 01, 2018, 03:17:49 AM
 #22

Hi,
I noticed that several months ago there was an Estonian company held an ICO, they said in the whitepapers that they are supported by the Estonian Government. I just saw at a glance, their project called CrowdCoinage. Perhaps some of them can help you to launch your ICO, I remember my friend participated on their ICO. I will ask him to find the contact for you.
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May 01, 2018, 12:37:48 PM
 #23

Hey all,

we're in the process of founding a company in Estonia online as e-residents. Our company will work with crypto, so we'll need one or both cryptocurrency licenses.

Please reply if you applied for them! Did you do it by yourself? Did you use a law firm? Which one? How difficult/complex was it? Would you recommend applying for it ourselves? Technically speaking, where can we get English information how & where to apply?

Thanks a lot, ANY info on this subject is valuable! Kiss

In terms of specific info on processes in Estonia, I'm not sure this forum is particularly useful (I may be wrong, but judging by the responses to your post, it seems no one has any knowledge).

Maybe you'd have some luck here? It's a FB group for e-residents. Good thing is that there are many official Estonian and e-Residency reps that pop up every once in a while. And there seems to be more and more crypto questions as well.

Not sure it helps, but good luck!
Tivadar
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May 01, 2018, 12:51:02 PM
 #24

Great idea & find jahn_quid, thanks a lot, this seems very helpful!

trupero_uno, thank you, I'll contact them!
frompublic
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May 01, 2018, 06:19:37 PM
 #25

As far as my research shown, the problem is NOT getting license or setting up a company, the problem is to get BANKS to work with you.

This seems right. However, do you know anybody personally/online who got the licenses? A contact would be very helpful! Thank you!

we cannot run the exchange without licence?



Tivadar
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May 01, 2018, 06:39:11 PM
 #26

we cannot run the exchange without licence?

Of course you can, it's just per se illegal, and probably warrants a fine or other penalty.
Golberg
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May 01, 2018, 06:46:53 PM
 #27

we cannot run the exchange without licence?

Of course you can, it's just per se illegal, and probably warrants a fine or other penalty.

i mean, if you registered the company in estonia and dont have a licence its illegal?


Binance does not have good licence in some countries. and also it does not deal with fiat .
Tivadar
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May 01, 2018, 06:48:52 PM
 #28

i mean, if you registered the company in estonia and dont have a licence its illegal?

Yes I understand that's the case, why would they create a license if you don't need to apply for it? Smiley

Just like when you set up a money exchange booth at a station, you need some kind of license probably. Make sense.
Golberg
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May 01, 2018, 06:51:44 PM
 #29

i mean, if you registered the company in estonia and dont have a licence its illegal?

Yes I understand that's the case, why would they create a license if you don't need to apply for it? Smiley

Just like when you set up a money exchange booth at a station, you need some kind of license probably. Make sense.

an exchange without fiat does not to get a licence in many countries .

did you have the e-residence before you get your company or after? do they know you going to have a crypto business before they send your e-residence?
Tivadar
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May 01, 2018, 06:54:12 PM
 #30

did you have the e-residence before you get your company or after? do they know you going to have a crypto business before they send your e-residence?

Binance is a Chinese/Maltese company, of course they don't need license from Estonia, why would they?

No, of course they did not know. Anybody can apply. See the requirements.
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May 01, 2018, 06:56:51 PM
 #31

did you have the e-residence before you get your company or after? do they know you going to have a crypto business before they send your e-residence?

Binance is a Chinese/Maltese company, of course they don't need license from Estonia, why would they?

No, of course they did not know. Anybody can apply. See the requirements.

thats why i asked you, because in the form , they asked what kind of business you going to do . I thought you told them crypto business. 

Probably if i put crypto business they not going to send my ID Huh Huh
Tivadar
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May 01, 2018, 06:58:52 PM
 #32

thats why i asked you, because in the form , they asked what kind of business you going to do . I thought you told them crypto business. 

Probably if i put crypto business they not going to send my ID Huh Huh

Hm then probably I did tell them. It was in Fabruary, don't remember. I don't think they have any problems with crypto.
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May 01, 2018, 07:54:04 PM
 #33

Great idea & find jahn_quid, thanks a lot, this seems very helpful!

trupero_uno, thank you, I'll contact them!

Hope you were able to find some more information there!

Lots of knowledge constantly being shared; a bit of a firehouse but useful if dig!

 Wink
trupero_uno
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May 02, 2018, 02:35:04 PM
 #34

Great idea & find jahn_quid, thanks a lot, this seems very helpful!

trupero_uno, thank you, I'll contact them!

I have received news from my friend about the availability of that Estonian Company, their business is dealing with new ICO. For further detail, you could contact them. I will give you their contact by PM and we continue in PM.
Tivadar
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May 14, 2018, 09:33:20 AM
 #35

Still looking for people who applied for these licenses! Smiley Anyone?
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May 14, 2018, 10:37:41 AM
 #36

Still looking for people who applied for these licenses! Smiley Anyone?

What news have you managed to find so far? I'm also curious as am helping one of my business partners considering the e-Residency option (although only for a secondary location/license). I have contacted one of the government portals but was pointed to several incorporation services - which apparently don't even need that e-Residency status for already EU residents. I checked out a few private ones who'd do it for you, costs between EUR 2.5 to 5.5, depending on what kind of entity you want to incorporate (and LLC seems to be the favoured one) and apply your licence for you.

Half the price is to do it yourself but it seems pretty tedious and also unclear. From what I understand, you have to incorporate, then issue a notice to the Police and Border guard (I know, weird) of your engagement in financial payment services, and then they take 6 weeks to approve and issue (upon approval) the authorization plus fees. This is in effect, the licence for the licence.

With that authorization and all company incorporation docs, you apply to the Registrar for a crypto exchange licence. That's another 6 weeks to hear back from them.


Tivadar
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May 24, 2018, 08:41:28 AM
 #37

Alright, so we've submitted our applications, fingers crossed! Smiley

https://i.imgur.com/dRP6WOY.jpg
Tivadar
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June 14, 2018, 01:40:06 PM
 #38

Hey guys, great news, we've just been granted BOTH licenses!

1. Providers of a service of exchanging a virtual currency against a fiat currency
2. Providers of a virtual currency wallet service

https://i.imgur.com/JuowreQ.jpg

Awesome news! Smiley
Tivadar
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June 15, 2018, 02:41:46 PM
 #39

Congratulations! Would you mind pm'ing me your contact info? Have some questions for you

Thanks! Sure, done.
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June 15, 2018, 05:58:23 PM
 #40

I dont applied any of license. Sad
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