Crypto license: where to get one and what it costs

Since 1 July 2026, serving EU clients without a European licence is not allowed for a single day. We cover where to get a crypto license in 2026, what regulators charge, how much capital to hold and why applications are refused.

In detail

A crypto license in 2026 is no longer a certificate issued in a couple of weeks. It is a full financial regulator's authorisation with capital, an office and a real team. The biggest change of the year: on 1 July 2026 the transitional period of the EU Markets in Crypto-Assets Regulation ended in every member state. The European Securities and Markets Authority warned back in April that after this date serving EU clients without authorisation breaches EU law, and unauthorised firms must wind down and return clients' assets.

Outside the EU the choice is wider, but the rules are tightening there too: Kyrgyzstan raised capital for exchanges, Georgia for all providers, and from 1 May 2026 Kazakhstan opened licensing outside the Astana financial centre. Below are the countries, fees, capital, timelines and the reasons for refusals.

Where to get a crypto license: countries and costs

The state fee is almost always smaller than the cost of capital and people. So we compare three things at once: the fee, the capital and the main condition.

Amounts are converted at central bank rates on the day of publication and rounded up. A stablecoin is a cryptocurrency pegged to the dollar or another currency.

A licence under the EU crypto-assets regulation

The EU Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114) has applied to crypto services since 30 December 2024. A company that exchanges, holds or transfers clients' crypto or runs an exchange is a crypto-asset service provider and needs authorisation from the regulator of its EU country.

The main advantage is the passport. One licence opens all 27 EU countries plus Norway, Iceland and Liechtenstein. Entering another country takes a notification through your own regulator, not a second licence.

The main drawback is the bar. The regulation requires three things that cannot be bought ready-made:

• An office in an EU country where the company actually provides at least part of its services.
• Management from the EU: decisions are made here, not on another continent.
• At least one director who lives in the EU.

Timelines are set in Article 63 of the regulation. The regulator checks completeness within 25 working days, then assesses the application within 40 working days. One request for more information stops the clock for up to 20 more working days. On paper that is three to four months; in practice it takes longer, as every round of changes sends the file back into the queue.

Capital depends on the most demanding service in the set. Own funds must be at least the class minimum or a quarter of last year's fixed overheads, whichever is higher.

The capital requirement is permanent, not just for the filing date. The regulation allows part of the money to be replaced with an insurance policy, but few insurers sell such policies and they are not cheap, so most applicants put up cash.

Crypto license in Estonia, Lithuania, Czechia and Poland

The regulation is the same for everyone, but queues and pace differ. One regulator issued a single licence in eighteen months, another issued eleven, and in one country there is nobody to issue them at all.

Estonia

In 2021 Estonia had 641 active crypto licences; by 1 July 2026 none were left, as the financial intelligence unit cancelled the last entries of the old register. New licences are issued by the Financial Supervision Authority, the same body that supervises banks. The application review fee is about $3,400.

Local law adds its own conditions to the EU regulation: the company must be a private or public limited company with an address in Estonia and a management board of at least two people. In eighteen months of accepting applications, the authority issued one standalone crypto-asset service provider licence. More in our article on the Estonian crypto license, and company taxes are on the taxes in Estonia page.

Lithuania

Lithuania ended its transitional period earlier than the rest - on 31 December 2025, not 1 July 2026. Since 1 January 2026 crypto services in the country are illegal without a Bank of Lithuania licence. By the end of February 2026 the bank had issued only four crypto-asset service provider licences, although hundreds of registered crypto firms operated there until recently. Company taxes are on the taxes in Lithuania page.

Czechia

The Czech National Bank received more applications than any other EU regulator - 251, of which 204 came from firms operating in the transitional period. The bank issued its first six licences on 11 February 2026, and by 1 July 2026 there were 11. The rest had to wind down: operating without authorisation after that date breaches the regulation. Czech company taxes are on the taxes in Czechia page.

Poland

A Polish crypto license does not exist in 2026. The president vetoed the law that would have made the Financial Supervision Authority the regulator three times: in December 2025, February 2026 and on 11 June 2026. In September 2026 the Sejm again failed to override the veto: 241 deputies voted in favour when 266 were needed.

The result: a Polish company needs a licence from another EU country to serve clients. The European Securities and Markets Authority stated plainly that the absence of a national law does not exempt anyone from the regulation. Taxes are on the taxes in Poland page.

A licence in the British Virgin Islands and Seychelles

Offshore licences cost less to enter than European ones but give no right to serve EU clients. They suit projects with clients in Asia, Latin America and CIS countries.

British Virgin Islands

The virtual asset service providers law has applied since 1 February 2023, and providers are registered by the Financial Services Commission. The application fee is $5,000, or $10,000 for exchanges and custody. The law sets no fixed capital: the regulator sets it, and in some recent registrations it was $1 million.

The trap is that registration is needed even by a company with no office on the islands if it provides such services from abroad. Operating without registration is a criminal offence: a company faces a fine of up to $100,000, and those responsible up to 5 years in prison. By 30 July 2025 the regulator had registered only 14 providers.

One more detail: since June 2025 the islands have been on the grey list of the FATF, the international anti-money laundering body, and stayed on it after the June 2026 plenary. Banks check such companies more strictly as a result. More on the BVI company with a crypto licence page and in our article on the BVI forex licence.

Seychelles

The Seychelles virtual asset service providers law came into force on 1 September 2024, and licences are issued by the Financial Services Authority. Applying costs about $5,300. The annual fee is a base part plus a charge for each activity:

• exchange - about $32,000 a year;
• crypto wallet custody - about $27,000 a year;
• broker - about $16,000 a year;
• investment services - about $11,000 a year.

The annual fee is due by 1 January. Presence costs more than fees: at least one director lives in Seychelles at least 183 days a year, the board meets on the islands at least twice a year, and the compliance officer is a full-time employee - this function cannot be outsourced. The beach comes with duties attached: the regulator checks that the director really lives on the islands, not just sends photos from there. We register the company for the licence through the company registration in Seychelles page.

Crypto license in the UAE: Dubai or Abu Dhabi

The Emirates have two systems. In Dubai crypto businesses are licensed by the Virtual Assets Regulatory Authority; in the Abu Dhabi financial centre - by its Financial Services Regulatory Authority. Compare them on annual fees, not just the application: Dubai charges supervision every year and for every activity.

Each additional activity from the senior group adds about $55,000 to the application. On top of capital the regulator requires liquid assets of at least 1.2 months of expenses, plus directors' liability insurance and cover for crypto held in hot wallets. A hot wallet is a wallet connected to the internet.

Since June 2025 Abu Dhabi has one rate for all activities: $20,000 to apply and $15,000 a year in supervision, or $125,000 and $60,000 for a trading venue. A custodian holds capital of at least $250,000 or six months of expenses. Abu Dhabi suits funds and projects for professional investors, Dubai suits services for retail clients. Company taxes in the Emirates are on the taxes in the UAE page.

Crypto license in Kazakhstan

Until May 2026 crypto could legally be handled in Kazakhstan only inside the Astana International Financial Centre. There licences are issued by the centre's Financial Services Authority. A trading venue pays $98,000 for authorisation and from $30,000 a year in supervision, and its capital is at least $200,000 or a year of operating expenses, whichever is higher.

Since 1 May 2026 amendments of 16 January 2026 apply: outside the financial centre, exchange offices get a National Bank licence and trading venues register with it. The market is opening slowly: by the end of July 2026 the National Bank had issued its second exchange licence. Company taxes are on the taxes in Kazakhstan page.

Crypto license in Uzbekistan

Uzbekistan is the most expensive country in this review. Licences are issued by the National Agency for Perspective Projects, and only to companies registered in the country with servers in Uzbekistan. Fees are tied to the base calculation value, about $40 since 1 September 2026.

• Exchange - about $2.8 million one-off and about $28,000 every month.
• Crypto shop, that is an exchange office - about $140,000 one-off and about $7,000 a month.
• Crypto custody - about $270,000 one-off.
• Mining pool - about $120,000 one-off.

The agency openly explained these amounts as a barrier against fraudsters. It works: there are few casual players in this market. Company taxes are on the taxes in Uzbekistan page.

Crypto license in Kyrgyzstan

In Kyrgyzstan licences are issued by the Financial Market Regulation and Supervision Service. The licence has no expiry and is valid across the country.

The bar for exchanges rose sharply: under presidential decree No. 112 of 13 March 2026, from 1 July 2026 an exchange's charter capital must be at least about $3.5 million. Exchange offices are outside this requirement but must pass an audit every year. Paying in crypto inside the country is not allowed: the som is the only means of payment. Taxes are on the taxes in Kyrgyzstan page.

Crypto license in Georgia

In Georgia a virtual asset service provider registers with the National Bank. The registration fee is about $2,000, and the company must be Georgian: a limited liability or joint stock company. On 8 September 2026 the bank tightened the rules and introduced capital by type of service:

• exchange and transfers - about $58,000;
• trading venue - about $140,000;
• other services - about $97,000;
• stablecoin issuance - about $200,000, rising with reserves.

Existing firms were given time: a risk management framework by 1 July 2027 and capital by 1 September 2027. More about the country on the Georgia page.

Crypto license in El Salvador

In El Salvador digital asset service providers are registered by the National Commission of Digital Assets. Registration costs fifteen minimum wages of the commerce and services sector, about $6,200. The commission replies within 20 working days and allows 10 working days to supply missing documents. El Salvador is chosen for token and stablecoin issuance. About the country - on the El Salvador page.

What about a crypto license in Russia?

The digital currencies law was signed in August 2026 and has applied since 1 September 2026. The Bank of Russia keeps registers and authorises crypto exchange offices and digital custodians, while brokers and asset managers work under their existing licences. The transitional period runs until 1 July 2027. A private investor without qualified status may buy crypto for no more than about $3,600 a year through one intermediary. For a service aimed at clients abroad, a Russian licence does not replace a local one.

How much a crypto license costs

The regulator's fee is the smallest line in the budget. The total has four parts:

1. State fees: application and annual supervision, from $2,000 in Georgia to $2.8 million in Uzbekistan.
2. Capital: the money sits in the company account for as long as it operates, from $57,000 in the EU.
3. People and an office: a local director, a compliance officer, an anti-money laundering officer, an auditor.
4. Preparing the application: a business plan, internal policies, a technology review and support until the decision.

Murblz support prices for ready-made routes:

Regulator fees and capital are not included in these prices. For Dubai, Abu Dhabi, Kazakhstan, Georgia, Seychelles and El Salvador we quote support after reviewing the business model.

How to get a crypto license: step by step

1. Choose the country by your clients, not by price. Clients in the EU need a European licence, clients in the Gulf need the Emirates.
2. Define the services. They determine the licence class, capital and fees.
3. Register a company and find an office in the licensing country.
4. Build the team: directors, a compliance officer and an anti-money laundering officer.
5. Prepare documents: a three-year business plan, internal policies, a technology security plan and a client exit plan in case of closure.
6. Put up the capital and prove where the money came from.
7. File the application and answer the regulator's questions.
8. After the decision - annual fees, reporting, audits and inspections.

Serving clients before the licence is granted is not allowed anywhere on this list. Patience here is as mandatory a part of the application as capital.

Why crypto license applications are refused

• Nominee directors. The regulator interviews management and quickly sees who really runs the company.
• Copied internal policies. Anti-money laundering rules must describe your business specifically.
• Unclear source of capital and ownership chains without documents.
• No real presence: an office on paper with no staff.
• No bank account. Without an account for client money the application cannot be completed.
• Operating before the licence. A website already taking clients is a common reason for refusal and a fine.

A refusal costs more than time. An application for a new licence in any country asks whether you were refused before, and a past refusal has to be explained.

How we help

The law does not stop you from applying on your own. But mistakes cost more than the fees: a country whose licence does not cover your clients, the wrong class of services, a nominee team, capital without a proven source. We choose the country for your business model, prepare an opinion on which licence you need, register the company, write the business plan and internal policies, build the team and handle the application until the regulator's decision. We guarantee professional work and a transparent process, and in most cases a result on the first application.

Crypto company owners will find useful our reviews of countries with no tax on crypto and crypto and taxes when relocating. If the company is owned by a Russian tax resident, a controlled foreign company notification will be needed.

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