Businesses may be required to register and get licenses for certain jurisdictions and activities, and two primary types emerge in the cryptocurrency sector:
— a cryptocurrency exchange operator is a business or an affiliate of another business that exchanges cryptocurrency owned by a client in exchange for a commission fee.
— a cryptocurrency depository wallet operator is a business or an affiliate of another business that manages client cryptocurrency depository wallets.
A single business may file for both cryptocurrency exchange and wallet licenses or authorizations. For instance, in Lithuania it is the Lithuanian Financial Crime Investigation Service that supervises the such activities (FCIS), whilst notification about mentioned activities should be also filed with the Registry of Companies.