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Author Topic: Anyone applied for Estonian cryptocurrency exchange/wallet licenses?  (Read 347 times)
buwaytress
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June 16, 2018, 04:00:54 PM
 #41

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

Awesome news! Smiley

Well done OP! And it certainly looks like this has happened as quickly and as easily as is "advertised"! Would you care to share how easy it was to provide documentation? Did you do this directly or did you hire legal assistance? As you can see from my previous posts, I was also considering this route, but the initial costs of engaging assistance was still a little too high for a 2-person SME (being the entity I'm trying to help). Looks like they also did it in 3 weeks, half of the time advertised.

Big question: does this also allow you to passport the licence out to all EU-member countries?

Smaller question: do you now need help with compliance (both AML whose directive comes into effect next year, and privacy (GDPR))?

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June 17, 2018, 07:50:10 PM
 #42

Estonia is the best and easy place to initiate a startup in cryptocurrency related business. Even if you are non resident you can get online residency to start your project.
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June 18, 2018, 01:34:10 AM
 #43

Hi, there, very easy process, costs 100 Euro and takes about 30 minutes, nothing to it, very easy. You can either apply online, or in person. But you have to collect your e-resident card in person

so you can become an e-resident with a cryptocurrency license in estonia, for just 100 euro?

buwaytress
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June 18, 2018, 09:06:13 AM
 #44

Hi, there, very easy process, costs 100 Euro and takes about 30 minutes, nothing to it, very easy. You can either apply online, or in person. But you have to collect your e-resident card in person

so you can become an e-resident with a cryptocurrency license in estonia, for just 100 euro?

That's actually why I was seeking an update from OP. I do not think it's as easy or as simple as that, since I attempted mid last year and got roadblocked at the e residency platform itself because of the requirement for financial investment or the cost of opening a business there.

Later, saw that the license was available via intermediary agent upwards of 2.5k, but things could have changed now. Also looking for clarification if the granting of license was indeed also e residency status, plus if it allowed passporting to EU member countries.

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June 20, 2018, 03:14:17 PM
 #45

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

Awesome news! Smiley

Well done OP! And it certainly looks like this has happened as quickly and as easily as is "advertised"! Would you care to share how easy it was to provide documentation? Did you do this directly or did you hire legal assistance? As you can see from my previous posts, I was also considering this route, but the initial costs of engaging assistance was still a little too high for a 2-person SME (being the entity I'm trying to help). Looks like they also did it in 3 weeks, half of the time advertised.

Big question: does this also allow you to passport the licence out to all EU-member countries?

Smaller question: do you now need help with compliance (both AML whose directive comes into effect next year, and privacy (GDPR))?

Hey! I did it myself, it was definitely serious work, I would say 5-7 full workdays to prepare the whole documentation, at least 10 days with the whole process, preparation, etc. No, I did not involve lawyers at all.
I don't understand the passport question, sorry. Sad
Also I don't really know about the compliance, we just want to launch now, all other tasks comes later.

Hope this helps!
 
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July 13, 2018, 07:10:41 AM
 #46

Hey! I did it myself, it was definitely serious work, I would say 5-7 full workdays to prepare the whole documentation, at least 10 days with the whole process, preparation, etc. No, I did not involve lawyers at all.
I don't understand the passport question, sorry. Sad
Also I don't really know about the compliance, we just want to launch now, all other tasks comes later.

Hope this helps!
 

It definitely helps, and thank you for responding to this (although I only am checking back right now!).

What I meant by the passport question is... since Estonia is an EU member, I was just wondering if this now means your new crypto license can be "passported" out to other EU member nations. This is because some countries like in the UK, some of its payment services licences (they have 3 levels I believe, depending on the services provided) can easily be used to apply for similar licences in Europe (although Brexit might change this). Just wondering if it's the same for Estonia.

Well done again, let us know when you actually launch!

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July 13, 2018, 10:40:41 AM
 #47

Hey hi, Towerbee is a company which is coming up with TowerX cryptocurrency trading platform for traders,they are licensed in Estonia,you can find them in telegram and one of the admins will reply for your query.

Hope this helps you Wink
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August 14, 2018, 05:41:31 PM
 #48

Well done again, let us know when you actually launch!

Thanks! We're very close, we have an operating credit card payment gateway already -thanks to the licenses Cheesy- so some minor fixes and we're LIVE Smiley
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September 12, 2018, 01:42:40 PM
 #49

We're live! Sign up & choose a portfolio at www.hellocoin.world
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