Lithuanian central bank digital currency
digital currency financial license generally refers to the license to operate digital currency related business in a certain country or region. Having a digital currency finance license means that the institution can conct business and derivative services related to digital currency in the place where it is issued. Such as the establishment of digital currency exchange, payment, digital currency financial derivatives and so on
the issuers of digital currency trading license are generally the National Central Bank and financial regulatory agencies, of course, the participation of legal departments is also very important. There are also great differences in the license application standards of various countries. Some countries and regions even need to apply for relevant securities, banks and funds licenses at the same time
most of the information about the current operation status of the exchange (if the exchange is currently operating) is prepared by lawyers ·
US MSB license, with low registration cost and fast application time, is the lowest application fee among the current financial licenses
we can apply for the following licenses: US MSB license, Canadian MSB license, US NFA license, Estonian MTR, UK FCA, Maltese license, Mauritian license, Singapore foundation, Singapore MAS financial supervision, blockchain license, digital currency supervision license, UAE FSRA license, Cyprus cysec license, Belize IFSC license New Zealand FSP and FMA license, Australian ASIC license, Swiss FINMA license, Seychelles FSA license, Cayman CIMA license and other global overseas regulatory licenses
there are not too many digital currency licenses, but there are only 20 kinds of digital currency licenses issued by the state. Countries that issue digital currency licenses include Estonia, Australia, the United States, Japan, Thailand, Switzerland, Kazakhstan, Lithuania, Malaysia, Mongolia, Singapore, Philippines and Vietnam. What needs to be added is that Canada will issue real digital currency licenses in the next few months. How to choose the license issued by so many countries
there are not too many digital currency licenses, but there are only 20 kinds of digital currency licenses issued by the state. Countries that issue digital currency licenses include Estonia, Australia, the United States, Japan, Thailand, Switzerland, Kazakhstan, Lithuania, Malaysia, Mongolia, Singapore, Philippines and Vietnam. What needs to be added is that Canada will issue real digital currency licenses in the next few months. How to choose the license issued by so many countries
gold content type: Canadian MSB license, American MSB license, American MTL license, Australian austrac license, Estonian MTR license, Swiss FINMA license, Japanese jvcea license, Kazakh FSP license and Canadian MSB license which is about to add digital currency
each license is different from Cheng recognized by investors, The gold content and reputation of the license plate are important indicators. At the same time, different countries and even different licenses in the same country, such as the United States, have different application and maintenance costs. The above licenses are all high gold content ones. As for the Swiss license, the cost is not directly related to the gold content. For example, it needs to work and the labor is expensive. Moreover, it is not only a digital currency license, it is also a top foreign exchange license, so the cost can be imagined
recommended type: MSB license in the United States, MSB license in Canada and # 160; Australian austrac license is recommended because the price of these licenses is relatively low and they are well-known.
as for the conditions of various licenses, they are different, but the company is the main body to apply for the license. As for the qualification examination of the exchange, whether it needs actual office work and whether it needs margin depends on which license. If the platform is relatively strong, it is recommended to do more, or challenge the digital currency license issued by Switzerland and Japan< br />
gold content type: Canadian MSB license, American MSB license, American MTL license, Australian austrac license, Swiss FINMA license, Japanese jvcea license, Kazakhstan FSP license and Canadian MSB license about to add digital currency
each license is different from Cheng, which is recognized by investors, and the gold content and reputation of the license are important indicators. At the same time, different countries and even different licenses in the same country, such as the United States, have different application and maintenance costs. The above licenses are all high gold content ones. As for the Swiss license, the cost is not directly related to the gold content. For example, it needs to work and the labor is expensive. Moreover, it is not only a digital currency license, it is also a top foreign exchange license, so the cost can be imagined
recommended type: MSB license in the United States, MSB license in Canada and # 160; Australia austrac license
the reason for recommendation is that the price of these license plates is relatively low, which is one of the reasons. Second, both the United States and Australia are well-known. They are one of the world's major financial centers without much introction. However, Estonia is not stage fright, and even slightly more recognized in the instry. This is related to Estonia's national policy of developing digital currency
as for the conditions of various licenses, the company is the main body to apply for the license. As for the qualification examination of the exchange, whether it needs actual office work and whether it needs margin depends on which license. If the platform is relatively strong, it is recommended to do more, or challenge the digital currency license issued by Switzerland and Japan
ZhuoZhi consulting business scope:
US MSB license, Canada fintracmsb license, US NFA member license, US RIA license, Canada iiroc license, Estonian MTR, Australia austrac, UK FCA, Maltese regulatory license, Bahamas regulatory license, Mauritius regulatory license, Japan FSA financial regulatory, Hong Kong SFC financial regulatory, Singapore foundation Singapore MAS financial supervision, St. Vincent foreign exchange supervision, vfsc Vanuatu supervision, UAE FSRA license, Sepp road license, Belize IFSC license, New Zealand fspfma license, Australian ASIC license, Swiss FINMA license, Seychelles FSA license, Cayman regulatory CIMA license, Germany bafi license, Seychelles FSA license, Belize IFSC license, Malaysia lfsa license, Russia CBR license, Indonesia license, Ireland CBI license, Cambodia SECC license, Kazakhstan FSP license, Lithuania EMI license, Bahamas license, Belarus license, France BDF license, South Africa FSCA license and other global overseas regulatory licenses< br /> < br /> < br />
The following is the title of the main sorting out of the current project side and the exchange of things more license, for reference -
fifth place: Singapore MAS
influence: five stars
compliance: five stars
application difficulty: five stars
there is no doubt that Singapore MAS license is one of the most valuable licenses at present, but its application threshold is high and the licensing time is very long, which makes many exchanges flinch
the Republic of Estonia is one of the three Baltic states in Eastern Europe. It faces the Baltic Sea in the west, the Gulf of Finland in the north, and Latvian and Russian borders on the South and East respectively. In 1991, after the declaration of independence of Lithuania, Estonia became independent, with Tallinn as its capital
the name of Estonia (Eesti) may come from the people called aestii described in the Germanic chronicles by Tacitus, an ancient Roman historian. Although Estonia is generally poor in resources, there are still a small number of resources with rich varieties on its land
the country also has a large amount of oil shale and limestone, as well as forests covering 47% of the territory. Because of its fast-growing economy and advanced information technology, Estonia is often referred to as & quot; The Baltic tiger;, The world bank lists Estonia as a high-income country
first of all, the intellectualization with blockchain technology as the core. Estonia should be the first country in the world to use blockchain technology, and ensure that the public data of the country can be stored on the distributed data network through xroad system. On the basis of blockchain technology, a relatively complete intelligent system has been built
information required for applying for Estonian blockchain license
Company's internal control rules, company's internal procere rules, company's website address, name and contact information of the person in charge of providing services, about the person designated to prevent money laundering and terrorist financing, about the person appointed by the operator responsible for implementing international financial sanctions in accordance with Estonian legislation Certificate of criminal record of the beneficial owner
for shareholders and directors, a of a valid passport notarized in English and a of proof of residence address (e.g. no more than professional reference letter, bank statement certified in English and a notarized of University Diploma in English) should be submitted
for application, it is mainly based on their own needs and budget, I hope I can help you
Electronic payment tools based on deposit currency of commercial banks, based on account tight coupling mode, still have great room for improvement in application scenario coverage, inclusive finance, payment efficiency, user privacy protection and anonymous payment
on the other hand, although the utilization rate of cash shows a downward trend, the absolute quantity will also maintain a certain growth, indicating that the digital supply of legal tender in retail has not kept up with the change of demand. Especially in areas where financial services are not fully covered, the public is still highly dependent on cash and has realistic demand and expectation for obtaining and using digital central bank money. In addition, the management cost of cash is high, and there is a risk that it will be used for money laundering and other criminal activities
in addition, encrypted assets and other centralized technologies used to process payment transactions will erode national currency sovereignty, and the pressure of cash digitization is actually increasing. In recent years, bitcoin, global stable currency and other encrypted assets try to play the monetary function, and start a new round of private currency, foreign currency and legal currency game. In response to this situation, it is necessary for the country to use new technologies to digitize M0 to provide a universal base currency for the development of digital economy
extended information:
there is no timetable for the launch of digital RMB
at present, the central bank is steadily promoting the research and development pilot work of digital RMB
Sun Guofeng, director of the Monetary Policy Department of the people's Bank of China, said at the regular policy briefing of the State Council on August 25 that at present, the research and development of digital RMB is following the principle of "steady, safe, controllable, innovative and practical", and concting internal closed pilot tests in Shenzhen, Suzhou, xiong'an, Cheng and the future Winter Olympic Games to test the theoretical reliability, system stability, system stability, and financial stability Function availability, process convenience, scenario applicability and risk controllability Sun Guofeng said that at present, the digital RMB is still in the internal closed pilot test stage. There is no timetable for the official launch of digital RMBin 2017, 68% of Europeans used mobile payment and digital wallet. By the end of this year, the demand for mobile payment business in Europe has nearly tripled, from 52 billion euros to 148 billion euros, which has attracted many foreign financial companies to enter the European market one after another. Among them, Lithuanian and British EMI licenses are the most popular
what is EMI license plate
EMI: (electronic money institution) Chinese is the license of electronic money institution. The main function is to issue e-money, and provide payment, prepaid card and e-wallet services in specific areas
Lithuanian EMI
the Lithuanian government takes attracting foreign investment, creating employment and promoting growth as its policy direction, and constantly improves the investment environment. In 2017, the tax preference of the free economic zone was expanded; Compared with other EU countries, the overall efficiency is nearly three times faster
according to the official data of the Central Bank of Lithuania, so far in 2020, there are 71 companies holding EMI licenses. As of the first quarter of 2020, the total revenue generated by EMI and payment instry is more than 17 million euro. In addition, some of the top EMI companies in Lithuania, such as paysera, perlas finance, secure Nordic, Lietuvos PA & š; TAS, connectpay, Walter, lietuvo, etc. occupy most of the market share, which is also worthy of attention
from the data of Lithuanian central bank over the years, it can be seen that foreign investment's interest in EMI is increasing year by year. In 2017, there were 29 EMI companies, which rose to 49 in 2018, and then to 67 in 2019
from the perspective of operating revenue, it also shows an increasing trend year by year. In 2018, EMI realized a revenue of 28.69 million euros; In 2019, EMI revenue will rise to 43.37 million euros, with a growth rate of 51%. The main source of income is e-money issuance and payment services
UK EMI
the UK financial system is quite perfect, and all kinds of financial business are mainly regulated by the financial conct authority (FCA). The UK is quite perfect in the field of financial supervision, and European countries often refer to the British system when making relevant laws and regulations. Therefore, the EMI license in the UK is not only valuable, but also greatly improves the business development and qualification of the company after obtaining the license
by 2020, there are 205 EMI companies in the UK, including 174 authorized electronic money institutions (AEMI) and 31 small electronic money institutions (semi), ranking the first in Europe
the UK government is quite open to the financial instry. At present, there are about 1600 financial technology companies and about 200 incubators set up in the UK, and most of them are located in London. It can be seen from the data that in 2018, the investment of technology finance instry in the UK reached 3.46 billion pounds, and in the first half of 2019, it reached 2.91 billion pounds, breaking the previous high. With its perfect financial infrastructure and upstream and downstream instrial chain, the attraction to foreign investment is increasing in recent years
of all EMI licenses in Europe, the number of licenses authorized by FCA in the UK accounts for 55% of the total EEA market, which is much higher than that in Lithuania. It can be seen that the popularity of EMI in the UK is still higher than that in Lithuania
basic requirements for EMI application
00001; Local companies
00002; Certificate of 350000 Euro registered capital
00003; Background survey data
00004; Company business plan
00005; Corporate governance and internal control plan
00006; Risk control and software system scheme
00007; AML / CTF scheme
00008; Other information
summary:
the EMI of Lithuania and the UK have similar functions and application conditions, but the two countries have their own advantages and disadvantages and can choose according to their own conditions
for start-ups or companies that are new to the European market, the entry threshold of Lithuanian EMI is lower, which will be a better choice. In addition, if we consider the uncertainty after brexit, it is safe to obtain a Lithuanian license first
for companies with excellent qualifications, to obtain a British EMI can not only significantly improve the company's reputation, but also make use of the upstream and downstream financial instry resources in the UK to achieve the effect of business integration< br />
advantages of payment processing companies that provide financial services in Europe (EU / EEA) and are licensed in Lithuania:
1. Compared with other European jurisdictions, Lithuanian regulatory approach is more flexible and business oriented. According to the EU directive, Lithuanian financial license can provide complete household license to all other EU Member States. You will be allowed to provide services in all EU (28 states) and EEA countries with only one Lithuanian license
2. Only PI and EMI licensed by Lithuanian can join SEPA directly, and Euro Payments can be processed directly in SEPA (Single Euro payment area) through centrolink payment system managed by Lithuanian bank. Lithuanian law allows non banks (e.g. Payment institutions) to generate separate accounts in Iban format for their customers. This allows pi to be used as a bank without having to open other accounts in a commercial bank. Euro payments can be processed immediately at low cost. You do not need to pay commission to the intermediary commercial bank. This makes your PI equal to the bank in Euro payment processing. Currently, Lithuania is the only EU jurisdiction where non banks can directly enter SEPA
list of services that payment institutions may provide: 1. Services that enable cash to be deposited into the payment account and all operations required to run the payment account; 2. Services that allow the withdrawal of cash from the payment account and all operations required to operate the payment account; 3. Execution of payment transaction, including fund transfer with payment service provider of payment service user or with another payment service provider on payment account: execution of direct debit (including one-time direct debit), execution of payment transaction or similar equipment through payment card and / or execution of credit transfer, including regular orders; 4. Execution of payment transaction, in which the fund is covered by the credit line of payment service users: execution of direct debit (including one-time direct debit), execution of payment transaction and / or execution of credit transfer through payment card or similar equipment, including regular orders; 5. Issue and / or obtain payment instruments; 6. Remittance; The execution of payment transaction, in which the payer agrees to execute the payment transaction through any telecommunication terminal equipment, digital or it equipment, and the payment is only the provider of goods or services and the user of payment service as the intermediary between telecommunication network or it system operators
this is also the reason why the front-line payment platform must apply for the EU Lithuanian license. We will provide the details of the license application, for example, the relevant certificates that the application must provide to the Lithuanian bank. The application cycle is 6-9 months, and the information is complete or even faster.
advantages of Lithuanian EMI payment license:
(1) there is no special requirement that the management of the company must operate locally in Lithuania
(2) it is not necessary to register a company before a license is issued
(3) fast license processing takes about three months
(4) the company information documents and compliance documents submitted can be in English
(5) remote client authentication. The innovative process of "know your customer" is to open an account for remote customer verification without the customer's presence
(6) pass to other EU jurisdictions. The passport of other EU countries is free and takes one month
(7) no sanctions in the first year. Lithuanian bank promised to support start-ups, and in the first year of operation, if the company has minor violations, it will not be punished
(8) visa application: for non EU customers, they can apply for the visa of Lithuanian start-up entrepreneurs
the Central Bank of Lithuania has a capital margin requirement for the payment of licenses. The minimum margin is 125000 euros. The company is not required to pay capital margin until the license is approved. After the company has registered its license, it is necessary to register the company and pay the capital deposit
maintenance cost:
the main operation of the company does not need to be in Lithuanian, so it does not need to employ local staff, including the company's senior staff. But the Central Bank of Lithuania stipulates that payment institutions need a local liaison. The employee can be a compliance officer, an anti money laundering officer, or a member of the board of directors. Our company can employ the employee for you, and the monthly salary is about 4000-6000 euro
qualification requirements for directors and board members: the Central Bank of Lithuania has strict audit requirements for directors and shareholders of Payment institutions, and only qualified directors and shareholders can apply for a license for the company
director requirements: must have higher ecation background in law, management, business management or economics. In the past eight years, we have worked as senior executives in financial companies in payment and related businesses for two years (we can provide such qualified personnel on our behalf)
the directors need to submit the following personal documents:
1. Personal identification documents, such as the front and back photos of passport and ID card
2
3. Notarization without criminal record; 4. Degree certificate
requirements of shareholders: if the shareholder of Lithuanian company is a company or enterprise, the following documents should be provided:
1
2. A list of members of a single or multiple person management team, indicating their names, surnames, positions, and the good reputation and experience of each natural person
3. Articles of association
if the shareholder of Lithuanian company is a natural person, the following documents should be provided:
1
2. Complete the questionnaire about a natural person's reputation and experience
3. Documents and data describing the financial situation:
4. Proof of no criminal record in the country of residence
the process of applying for payment license takes about 4-5 months
although Lithuania is one of the smaller countries in the European Union, it is rapidly becoming the investment hotspot of financial technology companies. The Bank of Lithuania is the main financial regulatory agency in Lithuania, which combines the functions of the Lithuanian Central Bank and financial regulatory agency (regulatory agency). In the near future, Lithuania will become a hot financial company concentration area in the world< br />
Hello, I'm glad to answer this question
the Central Bank of Lithuania's EMI payment card has no deposit, but needs capital verification. The capital verification costs US $350000
the EMI license covers the business scope of the payment license. In addition, it can provide swiftiban account number, payment card and electronic wallet
business scope of Payment institutions:
"licensed (licensed) Payment institutions" provide perfect solutions for many financial technology companies and start-ups to handle personal private payment or remittance, Internet payment, and Internet store payment in Europe. The EU payment service directive adopted in 2007 and the second version of payment service directive revised in 2017 provide a legal basis for the European single payment market. Licensed Payment institutions can provide the following services in Lithuania and the EU:
provide payment accounts to customers and accept customer storage services
(1) provide customers with withdrawal services
(2) perform payment transfer: provide transfer services to customers who have opened payment accounts, remit customers' funds to other customers' accounts in the same payment system, or remit customers' funds to other financial institutions or accounts of other payment institutions. Including single or multiple transfers of cash account; Payment by debit card or similar means
also includes credit line transfer and regular payment
(4) implement the payment transaction of credit line, direct debit, including one-time direct debit, payment card or similar methods for payment transaction,
and credit payment, including regular payment
(5) to execute the payment transaction, the payer agrees that the payment platform shall pay through any telecom terminal equipment, digital equipment or telecom network or it system operator, Or as a media and intermediary between a supplier of goods or services and customers who use payment services, directors need to submit the following personal documents:1
2
3. Notarization without criminal record
4. Degree certificate
application time: 4-5 months
online banks such as payend also apply for Lithuanian EMI