🧠 Exploring the thoughts of a €3M-funded COO
And country focus : Lithuania's regulatory framework
Today's Agenda...
Arnaud Droz's Story: Unveiling the Secrets Behind Bubblemaps' Rise 🌟
Lithuania's Crypto Landscape 🇱🇹: Dive into Lithuania's evolving crypto scene. Discover the opportunities and navigate the compliance landscape to thrive in this dynamic market.
⏰ Reading Time: 5 min
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A web3 pioneer's trajectory
Arnaud Droz's career trajectory exemplifies the impact of embracing change and following one's passion. Initially embarking on a path in armament engineering, Arnaud's stint in India and subsequent venture into the wine industry laid the groundwork for his adaptive approach to career development, culminating in his co-founding of Bubblemaps in the web3 sector.
Discover below the main lessons Arnaud offered during his appearance on the Behind The Chain podcast hosted by Romain.
Bubblemaps: Demystifying crypto holdings
In a market clouded by complexity, Bubblemaps stands out by offering a visualization tool that clarifies the interactions and holdings among top token holders, providing essential insights into tokenomics. This innovation not only aids investors and enthusiasts in making informed decisions but also contributes to the overall transparency and understanding of the crypto market.
Key Insights and Takeaways
1. Navigating Career Transitions: Arnaud's journey from traditional sectors to the web3 underlines the importance of being open to career shifts, especially in rapidly evolving industries like technology and crypto.
2. Turning Passion into Impact: The inception of Bubblemaps stemmed from a genuine interest in solving a specific issue in the crypto space – the lack of clarity around token holdings. This origin story highlights how passion-driven projects can evolve into significant industry contributions.
3. Addressing Market Needs: Bubblemaps' success lies in its ability to offer a clear, visual representation of complex data, addressing a critical need for transparency and simplicity in the crypto world. This approach underscores the value of focusing on real-world problems and developing targeted solutions.
4. Fostering Community Connections: The growth of Bubblemaps was significantly bolstered by its engagement with the crypto community. This engagement emphasizes the power of community interaction in refining a product and driving its adoption.
5. Understanding Regulatory Landscapes: Arnaud's experience illustrates the critical nature of regulatory compliance and awareness in the web3 domain, where legal frameworks are still evolving. This awareness is crucial for ensuring the longevity and legitimacy of any web3 project.
6. Preparing for Scalable Growth: The development of Bubblemaps from a basic concept to a comprehensive platform showcases the necessity of scalability planning. This preparation is vital for maintaining quality and relevance amidst rapid growth.
7. The Value of Continuous Learning: Arnaud's varied entrepreneurial experiences before Bubblemaps, from his time in India to his involvement in the wine industry, highlight the importance of learning from every venture, whether it succeeds or fails.
Conclusion
The journey of Arnaud Droz and Bubblemaps offers some lessons for web3 entrepreneurs and enthusiasts: embracing change, being driven by passion, creating value with practical solutions, engaging with communities, navigating regulatory environments, and planning for growth. These insights not only delineate a path to success in the web3 landscape but also serve as foundational principles for innovative ventures in any sector.
Cryptocurrency market evolution in Lithuania : opportunities, obligations and how to get started ? 🇱🇹
This article was written by BlockReg Advisors, a crypto regulatory consulting firm.
Lithuania has emerged as an ideal destination for crypto entrepreneurs and businesses. With its business-friendly ecosystem, well-defined regulations, and favorable tax policies, Lithuania has become a crypto hub for those seeking to establish and operate crypto-related ventures. This article provides crucial insights into licensing and regulations for cryptocurrency activities in Lithuania.
Advantages of Registering
Streamlined Establishment Process: Lithuania offers a straightforward path to register your crypto venture as a Private Limited Liability Company (UAB). With minimal residency requirements for directors and shareholders, the process is accessible and efficient.
Favorable Tax Regime: Enjoy a competitive corporate income tax rate of 15% and a standard VAT rate of 21%, enhancing the fiscal attractiveness of operating in Lithuania.
Strategic Location: Situated within the European Union, Lithuania provides access to a vast market of consumers and investors, positioning your venture for growth and expansion.
Constraints and Obligations:
Regulatory Compliance: Stringent anti-money laundering (AML) regulations necessitate robust internal controls and procedures to prevent illicit activities. Adherence to due diligence protocols, transaction monitoring, and data reporting standards is mandatory.
Documentation Requirements: Applicants must prepare a comprehensive set of documents, including apostilled passports, CVs of project participants, and detailed business plans, to meet regulatory standards.
Financial Obligations: A minimum share capital of €125,000 is required for UAB registration, alongside contributions to state social insurance for employees.
How to Get Started in 4 Steps:
Company Formation: Begin by selecting a unique company name and reserving it through the State Enterprise Centre of Registers. Establish a UAB with one or more natural or legal persons, ensuring compliance with residency and share capital requirements.
Documentation Preparation: Gather the necessary documentation, including apostilled passports, CVs, power of attorney, and a detailed business plan outlining your venture's objectives and operations.
Licensing Application: Prepare and submit your license application, ensuring alignment with Lithuania's regulatory framework for cryptocurrency activities. Include AML and KYC procedures, demonstrating your commitment to compliance.
Initiating Operations: Upon successful registration and licensing, initiate operations and implement robust internal controls to ensure regulatory compliance. Appoint an AML/CFT compliance officer to oversee adherence to AML regulations and reporting obligations.
In conclusion, registering your crypto venture in Lithuania offers a gateway to a favorable business environment within the European Union. While navigating regulatory constraints and fulfilling obligations may pose challenges, leveraging the advantages of streamlined processes and tax incentives can position your venture for success in the dynamic landscape of cryptocurrency entrepreneurship.
Collaborating with crypto regulatory consulting firms like BlockReg Advisors can yield numerous advantages and ensure that the company is well-prepared for triumph in the dynamic and swiftly evolving crypto market. This partnership can safeguard the company's reputation, financial stability and cybersecurity while positioning it for success in the crypto industry.
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Disclaimer : The goal of this newsletter is to inform and produce content related to management in the world of Web3. It is not investment advice. Investments in crypto-assets and NFTs are risky and can result in the loss of your entire capital. Always conduct your own research and exercise caution.
loved the part on lithuania