Prikhodko&Partners
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Legal services in the field of cryptocurrency and blockchain
Obtaining a crypto license

Nazar Fyl

Lawyer

E-mail

Fyl@prikhodko.com.ua

Phone numbers

Expert in cryptocurrency, blockchain, and international corporate law. Has many years of experience in unlocking and legalizing cryptocurrencies, obtaining crypto licenses, developing AML/KYC policies, and providing legal support for businesses in EU countries.

Obtaining a crypto license

Obtaining a crypto license in 2026 is already a structured legal process, not just a “formality”. Businesses have to choose between the European MiCA regime (CASP), local “lightened” regimes, Hong Kong, UAE and offshore licenses – each approach has its own logic, risks and opportunities.

What is a crypto license today?

A “crypto license” is usually understood as a regulator’s permission to provide services for the exchange, storage, transfer, tokenization or brokerage of virtual assets. In the EU, the key standard has become the CASP (Crypto‑Asset Service Provider) status under the MiCA Regulation, which replaces the disparate VASP regimes. Outside the EU, crypto businesses can operate through MSB regimes, local VASP, Hong Kong (SFC), UAE (VARA/ADGM) or special licenses for virtual assets in offshore and financial centers.

Get advice on obtaining crypto licenses

Choosing a license and jurisdiction: CASP, VASP, Hong Kong, UAE or offshore?

Europe (MiCA / CASP): license in one EU country with certification of services for the entire Union; high capital requirements (from 50,000 to 150,000 euros depending on the services), management and AML, but maximum trust from banks and institutional partners.
“Lighter” regimes: for example, Poland, where registration models (VASP / crypto-activity registry) with a lower entry threshold are still possible, but without a full-fledged “European passport”.
Hong Kong (SFC VATP / VASP): licensing for exchanges and service providers with strict AML / CFT, two responsible officers, IT controls and a reputation test; high trust in Asia, work with security tokens.
UAE (VARA Dubai, ADGM, SCA): VASP regimes for exchanges, brokers, custodians with local residents, MLRO and flexible taxation in free zones; direct access to banks with mature compliance.
Offshore jurisdictions (BVI, Caymans, Panama, St. Kitts, Anjouan, etc.) provide flexible taxation, softer capital and compliance requirements, but do not provide direct access to the EU market.

Basic requirements for obtaining a crypto license

A European entity in the selected jurisdiction includes registering a company, obtaining a legal address, appointing a resident director or local compliance officer if necessary, forming a minimum capital (in the EU under CASP it is often from 50,000 to 150,000 euros depending on the list of services, in Hong Kong and the UAE – similar sufficiency tests, while in some offshore jurisdictions there may be no strict requirements), implementing a full-fledged AML/KYC system with internal policies, customer identification procedures, transaction monitoring and suspicious activity management with the appointment of a person responsible for financial monitoring, as well as building a management and IT security system that covers a description of the business model, risk management, platform architecture, data protection and mechanisms for secure storage of private keys and access to client assets.

Steps to Obtain a Crypto License

Choosing a Jurisdiction and Model

Analyze target markets, tax burden, banks’ attitude to the selected country (including Hong Kong and the UAE), as well as requirements for a physical office and local staff.

Company Formation

Register a legal entity, open a bank account (as required by the jurisdiction), appoint directors, beneficiaries, a compliance officer, and an AML officer.

Document Preparation

Draft articles of association, business plan (for 3 years for MiCA/VARA/SFC), AML/KYC policies, IT and security policies, and contracts with key providers (KYC services, custodial solutions, etc.).

Application Submission and Regulatory Communication

Apply, promptly respond to regulatory inquiries, conduct possible management interviews, and finalize documents before receiving a final decision.

After obtaining a license

Ensure regular reporting, policy updates, periodic audits, compliance with capital requirements and governance structure – any failure to comply may result in suspension or revocation of the license.

Calculate the cost of specialist assistance

How we do it: what are our advantages

Our team designs the optimal configuration of “EU (CASP) + Hong Kong/UAE/offshore” for your product, prepares a full package of documents (business plan, AML/KYC, IT policies, governance), supports communication with regulators (SFC, VARA, MiCA authorities) and ensures compatibility with banks and partners. We combine expertise in financial monitoring, IT security and corporate law so that the structure passes inspections and scales without restructuring every 6–12 months.

Practical guidelines for business

If your target audience is EU residents, the optimal entry point is a CASP license in the selected EU country, even if it is more expensive at the start. If the product is targeted at a global audience with a focus on tax optimization or Asia/Middle East, it is advisable to consider combining an offshore structure with Hong Kong, UAE or a separate licensed European company.

The real savings are not the cheapest jurisdiction, but the configuration that allows you to seamlessly open accounts, work with payment partners and scale the product without constantly changing the regulatory model every 6-12 months.