We will be migrating our custodial customer accounts from Lithuania on November 7th,2023.
Our aim is to ensure that the migration process is frictionless for our custodial
customers, and that you will be able to continue using GateHub services as normal.
Why are we migrating from Lithuania to Slovenia?
We believe that we must always follow the best interests of our customers and the company.
Operating in a business friendly environment, with a clear regulatory framework is one of the
foundations of our business. Because of some regulatory changes in Slovenia, which are
more favorable to crypto business, we decided to move part of our business operations
(custodial customer accounts) from Lithuania to Slovenia.
With this migration, we are staying in the European Union. Therefore, we are also closely
monitoring the process of adopting EU legislation, which will cover cryptoasset services
(Markets in Cryptoassets Regulation - “MiCA”) and a new regulatory framework for
anti-money laundering. We believe that the new EU regulatory framework applicable to
GateHub’s business operations will continue to ensure the integrity of the whole industry
which will be mostly beneficial to our customers.
What entity will my custodial account be transferred to?
Your custodial account will be transferred from GateHub UAB (Lithuania) to GateHub Crypto
d.o.o. (Slovenia). GateHub Crypto d.o.o. has all the required regulatory authorizations to provide
crypto services from Slovenia. As a Virtual Asset Service Provider (“VASP”), GateHub Crypto
d.o.o. is regulated by the Slovenian AML Office.
Non-custodial services will continue to be provided by GateHub Ltd.
What are the legal consequences of the migration?
There will be no material changes due to the migration. Same regulatory, with some minor
local specifics, apply to companies operating in Lithuania or in Slovenia.
After the migration comes into effect on November 7th, 2023, Slovenian regulation will apply to GateHub Crypto d.o.o..
What do I need to do in this migration process?
You are not required to do anything else to complete the migration of your custodial account
to GateHub Crypto d.o.o., apart from familiarizing yourself with the content of the new Terms
of Use and our communications related to the migration posted on our website.
What if I don’t agree with the migration of my custodial account?
If for whatever reason you do not want us to move your custodial account to GateHub Crypto
d.o.o., you can close your GateHub account. If you do not close your account before
November 7th, 2023, your account will be automatically migrated to GateHub Crypto d.o.o. to
ensure the continued safekeeping of your cryptoassets.
You will also be able to close your account at any time after the migration, in accordance with
the terms and conditions.
If I close my custodial account, what will happen to my cryptoassets?
As part of the closing process, you will need to withdraw your cryptoassets held on your
custodial account before November 9th, 2023. This will be part of the opt-out process (see
What will happen on November 7th, 2023, after the migration becomes effective?
On November 7th, 2023 all custodial customer accounts and assets of GateHub UAB
gateway will cease to operate as they will have been migrated to the GateHub Crypto d.o.o.
also come into effect.
Will there be any changes for deposits of fiat funds to my account?
Yes.The banking details that are displayed for deposits to your GateHub account will change with the migration.
We will let you know of this change in advance so you are properly informed before making any future bank transfers to your GateHub account.
We know that you might still have some questions about this. We have tried to answer the
most common questions in this post. In case you still have questions or concerns, please
submit them via our Customer Support.