Eternity Law International News Crypto license in Denmark

Crypto license in Denmark

Published:
February 28, 2024

Crypto-business in Denmark enjoys a favorably-developed environment as there’re plenty of cryptocurrency exchanges and there aren’t restrictions on exchange and vending of virtual funds. Nevertheless, national legislative basis doesn’t provide specific rules to control this market-niche. Danish authorities allow usage of Bitcoin and other crypto-currencies as payment means, assets or goods, although crypto-currencies aren’t not recognized as legal tender and aren’t covered by specialized legislative norms. Regulation of crypto-currencies is based on specifics of each deal and role of cryptocurrency in it.

Our team is first-class experts in field of launching and licensing commercial structures. We possess enormous expertise and knowledge to provide professional assistance on the way to get EMI-licenses, Forex, gambling and other areas.

Regulation of crypto-market in Denmark

There aren’t specifically-developed laws regulating VFA-market in Denmark. Crypto-currency deals may be covered by country’s financial laws based on their nature: whether it’s a payment form, investmenting tool, or financial service.

Main supervisory authorities in Denmark are:

  • FSA Financial Conducting Body;
  • national banking establishment;
  • Tax Administration;
  • tax advisory body.

Generally, supervision of financial market-space, including crypto-market, is covered by national and EU-directives.

Not far ago, amendments to Danish Illegal Monetary Means Circulation Act came into force. It defines crypto-currency as digital representation of value not being issued or guaranteed by central banking establishment or other governmental agency, not being tied to a legally established currency, and not having  legal status of a currency, but being accepted by capital-holders and legal entities as a medium of exchange and being capable of being transferred, stored and sold electronically.

When it comes to regulating ICOs in Denmark, country’s financial laws are heavily influenced by EU-directives. Issue of securities and deals in them locally are regulated by prospectus rules, EU Markets in Financial Instruments Directive, capital markets law and market-space abuse regulation. Crypto-currencies in this case aren’t recognized as financial tools and are rather considered as negotiable securities not covered by securities legislative norms.

Nowadays, in Denmark there aren’t clear guidelines regarding ICOs and definition of when a crypto-currency is considered financial tool and is covered by local legislative standards.

In area of monetary means storage and transfer services, Denmark sets laws on financial-business and payment services, which require specific permit for organizations carrying out transactions with deposits and loans. Nevertheless, crypto-companies don’t meet these points, and Danish law doesn’t consider crypto-currency purchase and vend deals as placing a deposit, without regulating them.

The same applies to transfers. Since virtual funds aren’t recognized as standard currency, its transactions aren’t considered remittances.

Activities of VFA-exchanges and exchangers aren’t regulated by specifically-developed norms in Denmark. In order for them to fall under Danish law, it’s mandatory to prove that crypto-currency is financial tool. In this case, vending on stock exchange will qualify as investing activities.

As for crypto-mining, it isn’t regulated at all. Even if virtual assets are recognized as a financial tool, miners will be considered as suppliers of IT-resources for a specific crypto-transaction.

Sanctions apply only if virtual currencies qualify as a financial tool. In this case, violation of law when making deals might result in a fine or imprisonment for up to 4-months-period. Nevertheless, given that virtual currency transactions aren’t covered by financial regulation in Denmark, risk of prosecution is extremely low.

Our team is ready to help you obtain this permit, and gambling-license in Romania, Germany, Malta, Estonia and others. We work with all categories of commercial permits.

Benefits of getting a crypto-license in Denmark

Denmark is indeed appealing for starting a crypto-business, nevertheless, with tightening of rules for getting crypto-licenses recently, it became more regulated jurisdiction in this area.

Introduction of stricter rules locally is associated with discovery of suspicious transactions amounting to over one hundred billion USD in one of banks. Today, there’re about 400 crypto-companies with appropriate license operating locally. Therefore, providing support for development of crypto-business becomes extremely essential, and our team is ready to provide fully-covering assistance.

Requirement basis for getting a crypto-permit

  1. All documentation to obtain a permit needs to be submitted through notary office or online platform of Commercial Register; review period increased to 120 days.
  2. Prerequisite is presence of physically-registered office; it provides better control and protection of clients’ interests.
  3. It’s mandatory to appoint one director with residency.
  4. To obtain crypto license in Denmark it’s needed to create an account with a EU payment system or banking facility; it often requires professional legal assistance, which we may guarantee.
  5. Capital currently ranges from 100 thousand EUR to 250 thousand. From 2022, state permit-getting fees have been increased to 10 thousand EUR.
  6. All company participants need to possess impeccable image and provide relevant certificates. It confirms regulation of crypto-activities by anti-money illegal circulation legislation.

How much does a crypto-license cost in Denmark?

The cost of this permit is based on plenty of third-party factors and is calculated individually. Our professionals provide you with preliminary price before cooperation begins.

Service range of our firm

We may help ensure compliance of CASP in Denmark with all licensing rules by providing fully-covering legal support, including interaction with governmental agencies, translation of documentation and client consultancy. Additionally, we’re ready to help with opening a banking account for your firm and offer other additional services upon request.

Our comprehensively-provided spectrum of services includes:

  • formation of a business and financial plans;
  • provision of all mandatory documentation for persons included in company structure;
  • ready-made offshore bank licenses in Comoros, Vanuatu, Antigua and worldwide, extensive list of other permits;
  • description of soft and internal mechanisms, including AML/Compliance.

We offer chance for a personal consultancy to review full list of normative parameters in more detail.

  1. We possess extensive expertise and highly-set qualifications in field of financial services, providing clients with professional support and advice.
  2. We individually bear in mind needs and goals of each client, offering personalized solutions to achieve maximum satisfaction.
  3. We follow systematic processes and highly-set  standards of professionalism, providing clients with efficient and high-quality service.
  4. We provide a full spectrum of services, including firm registration, opening accounts and getting permits, providing fully-covering support at all phases of business-activity.
  5. We provide chance for personal consultancy; it allows clients to become more familiar with services offered and receive detailed answers to their questions.
  6. We simplify processes for clients by providing fully-covering services, including development of business-plans, strategies and mandatory documentation .
  7. We guarantee that all services provided comply with current legislative basis, ensuring legal transparency.
  8. Our experts provide clients with support at all phases of cooperation, promoting long-term partnerships and successful progress of their business-project.

We’re ready to guarantee fully-covering services, from opening and launching a firm to getting a permit. Our experts are always ready to help you select ideal options. If you have any questions, don’t hesitate to contact numbers provided. Our professionals may provide detailed answers and advice, simplifying process of launching a crypto-business in Denmark.

Businesses for sale

Bulgarian crypto license for sale

Europe, Bulgaria Crypto licenses for sale
The following is an opportunity to buy crypto license in Bulgaria. Please review the primary information regarding this deal. Crypto license in Bulgaria for sale: details of the transaction Registered Address: The purchase of the company includes a registered address for 12 months. Documentation: The proposal includes an apostilled and sworn translated set of documents...

Crypto license in Slovakia for sale

Europe, Slovakia Crypto licenses for sale
This is a new investment opportunity – сrypto license in Slovakia for sale. Please check out the main details regarding this proposal  below. Crypto license for sale: key considerations Clean cryptocompany in Slovakia registered in 2021; Crypto exchange, Virtual wallet, ICOs, IEOs, IDOs; Company is also capable of doing tokenization; Company has its own bank...

Crypto license in Lithuania for sale

Europe, Lithuania Crypto licenses for sale
Below you can see the information regarding the ready-made company with crypto license and bank account in Lithuania for sale This company with crypto license in Lithuania for sale – whats included: License: cryptocurrency and wallet exchange operator. The company has the right to provide cryptocurrency wallet services, exchange cryptocurrency for fiat or vice versa and...

Crypto License in Estonia for sale

Europe, Estonia Crypto licenses for sale
Crypto License in Estonia is offered for sale  License since 2019 (crypto) Clean company Legal Help with the change of control Opened bank account with PI Asking price for Crypto License in Estonia: on a request. Details: nick.b@eternitylaw.com, Telegram @beihuln Please feel free to join our telegram channel in order to keep updated on the new...

You could be interested

Extradition Defense in Belgium

Picture this: you’re living your everyday life, and suddenly, you’re handed an extradition request. Shock. Fear. Confusion. Frankly speaking, it’s a situation no one wants to imagine — but if it happens, acting fast can make all the difference. Many experts claim that Belgium’s central role in European law and its commitment to human rights...

Open a Trust in Luxembourg

The choice of a place to set up any company should be conscious and carefully analyzed. If the co-founder of the company makes a mistake, he will miss out on profits and his project will take longer to pay off. Each form of ownership is created to solve certain business problems. If co-founders are interested...

US regulator rules for Forex brokers

Everywhere millions of exchange transactions are carried out constantly via OTC markets. Internet network, as a limitless extent, gives for unimpeded accession. In addition, regardless of geographic boundaries, every trader may act in any of the existing currencies. Within the retail Forex market, speculative operations are widely spreading. Consequently, brokers, banking institutions or other may...

US Bank Account Setup: Your Complete Starter Guide

Persons with other citizenship possess rights to open bank account in USA, but not all establishments spread their services to other residents. Plenty of establishments claim social securities, which non-residential persons don’t possess. Nevertheless, large banking corporations permit other persons to cooperate with them subject to determined rules. Documentation needed for bank account in USA...

Innovations in currency exchange in Ukraine

Innovations in cryptocurrency exchange in Ukraine  Thanks to the new law, Ukrainians will receive more than 20 privileges to facilitate banking operations. From February 7 it became possible: move currency values ​​abroad according to a unified system; settle later than the appointed date (earlier failure to comply with the established billing period led to a...

Company registration in Saint Lucia

Saint Lucia, situated in the Caribbean, is an appealing destination for individuals seeking dual citizenship through funding. With advantages such as visa-free travel, access to European banking services, tax optimization, and the ability to register businesses and assets for a second passport, affluent individuals are enticed by the prospect of acquiring Saint Lucia citizenship. In...

Related posts

Denmark Authorised Crypto Companies

Denmark distinguishes itself as one of the foremost trailblazers in Europe concerning cryptocurrency governance. With its lucid legislative infrastructure, advantageous fiscal frameworks, and dedication to technological progression, it is evident why countless visionaries aspire to establish authorised crypto companies in Denmark. The nation’s forward-looking stance on digital finance cultivates a dependable and fortified ecosystem for...

Company Liquidation in Denmark

Denmark Company Liquidation is a well-defined lawful workflow that marks the authorised termination of a business entity. Whether driven by fiscal hardship, corporate refocusing, or self-initiated dissolution by partners, liquidating a company in Denmark encompasses abiding by strict legislative demands. The workflow consists of settling arrears, allocating any residual capitals, and officially deregistering the firm...

Crypto License in Poland

Crypto-currencies have taken a strong place in the modern world, attracting more and more investors to get involved in crypto-activities. Poland is quite forward-looking towards crypto and is doing its best to open its market to expand the scope of the blockchain. In jurisdiction, there’s separate regulations for crypto-currencies, which guarantees officiality of services offered...

Crypto License in Cyprus

This region is emerging as a major hub for e-currency commercial operations, thanks to its pioneering legislative scheme, low charges, and strong monetary facilitation. For organisations looking to enlarge their activity within the e-currency space, a crypto licence in Cyprus to obtain  from the CySEC is notable. While the process is thorough, the benefits of...

Crypto gaming license

As the acceptance and popularity of crypto transactions continue to rise around the globe, any online gambling website that wants to stay afloat should be able to provide its users with the option to place and withdraw funds in crypto rather than only legal tenders like USD and EUR. A crypto gaming license must be...

Company registration in Denmark

Denmark is one of the most highly developed European countries. Therefore, it is attractive to foreign capital owners in terms of profitable investment opportunities. Although Denmark is not an offshore zone in the sense that we are used to, this jurisdiction offers foreign firms some privileges in terms of paying taxes. Organizational and legal forms...
Fill the blank: