In this episode, I explore some advantages and disadvantages of establishing a startup in the FinTech hubs of Luxembourg, Lichtenstein, Ireland, and Lithuania. A perfect environment does not exist, but this episode should give you clarity around which country will be best suited to you and your company. 

WORKSHOP ANNOUNCEMENT:

On February 21st, 2023, I am offering a brand new, one-of-its-kind, 90-minute workshop on the End-to-End Scope of Crypto Compliance.

Following the recent SEC actions against Kraken Digital Asset Exchange, #busd, #stablecoins, and #staking, we have added another section about stablecoins and staking to our agenda to ensure your company can navigate regulatory uncertainties.

Most of my clients have received and continue receiving additional questions from their banking partners, regulators, auditors, card processors, and other partners, which can be summarized as follows:

• Were you in any way impacted by the FTX collapse and the following series of crypto bankruptcies and litigations? 
• How can you prove to us that your company is better than FTX &Co and did not deploy any of the malpractices, abuses, and opportunistic regulatory arbitrage that seemed to be so common?

The easiest way to answer these questions would be to share with all these stakeholders that your entity has implemented many of the common compliance best practices that go beyond AML.

Sign up for this workshop and get clarity!

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Today’s episode:

• [00:54] An overview of the new workshop I am hosting on February 21st! 
• [02:12] The benefits of establishing a FinTech in Ireland.  
• [03:08] Some of the barriers to setting up a FinTech in Ireland. 
• [04:31] What to expect from the FinTech license application process in Ireland. 
• [05:26] Understanding the regulatory environment in Lichtenstein. 
• [07:15] Factors that make Lichtenstein special from a compliance point of view. 
• [08:47] Stringent requirements upheld by regulators in Lithuania. 
• [09:51] Expectations that the Bank of Lithuania has of FinTech companies that are established in the country. 
• [10:26] Recent Lithuanian VASP regime updates.  
• [12:00] Some of the advantages of establishing a FinTech in Luxembourg.  
• [13:34] Aspects of the FinTech industry that are emphasized in Luxembourg.
• [14:29] Why the licensing process takes longer than it used to. 

Show links:

• Sign up for the ‘End-to-End Complete Scope of Crypto Compliance’ Workshop here.

• Interested in FinTech compliance? – Consider investing in the FinTech Compliance Self-Starter Package!

• Want more insights about FinTech and Compliance delivered directly to your inbox? Let’s stay in touch! Click here.