Luxembourg is one of the best known financial centers in the world and financial technology has also started to become popular among investors setting up businesses here. The Luxembourg government also support the development of new technologies in the financial field such as blockchain. This technology is employed to create cryptocurrencies which are now used by individuals who want to purchase products on the Internet, by e-commerce companies which accept digital money as a payment form, but also by investors who want to protect their assets. As a matter of fact, after the financial crisis many wealthy individuals have tried to find other alternatives for keeping their investments safe which is why they decided to purchase cryptocurrencies.
Our lawyers in Luxembourg can offer more information on the legal requirements related to opening a cryptocurrency company here.
Luxembourg is one of the countries which have facilitated the use of cryptocurrencies a few years back and recently the Financial Supervisory Authority in the Grand Duchy has announced its interest in having its own reserves of digital money. In the light of these new developments, opening a cryptocurrency in Luxembourg at this time seems a very good business opportunity for those interested in pursuing it.
The registration procedure of a cryptocurrency or blockchain business in Luxembourg goes the same way as for any other type of company. Once all the documents have been prepared and filed with the Commercial Register. Our law firm in Luxembourg can help with the company registration procedure. The company must also obtain the approval of the CSSF prior to starting operating.
An advantage of opening a Luxembourg cryptocurrency company is that many universities in the Grand Duchy are preparing students for working in the financial technology industry. Having a workforce qualified for operating in this sector will definitely have a positive impact on the development of blockchain technology.
If you are interested in starting a cryptocurrency business in Luxembourg and need assistance, please feel free to contact us.
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