Head of International Corporate Law and Fintech Practice
Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.
OBTAINING A CRYPTO LICENSE IN LITHUANIA
Obtaining a crypto license in Lithuania today is inextricably linked to the implementation of the MiCA Regulation and the transition to a full-fledged crypto asset service provider (CASP) status with an EU-wide “passport”. This is no longer a simple VASP registration, but a comprehensive authorization under uniform European rules.
Why is Lithuania attractive for crypto business?
Lithuania has consistently established itself as one of the key crypto and fintech hubs of the EU, integrating MiCA requirements into its national legislation. The country has a well-developed infrastructure for fintech projects, including payment institutions, e-money, and a startup ecosystem that facilitates the launch of crypto companies. At the same time, regulators have focused on transparency, risk management, and anti-money laundering in full compliance with European standards.
The move from simple registration of virtual currency operators to CASP licensing means that Lithuania has effectively synchronized its requirements with MiCA before many other jurisdictions. For businesses, this creates an opportunity to “take their place” among the first fully legal players in the new European crypto-asset market.
What is MiCA and the status of a CASP?
The MiCA (Markets in Crypto-Assets) regulation introduces uniform rules for crypto-assets and crypto-services in all EU Member States, including Lithuania. It defines who is considered a Crypto-Asset Service Provider (CASP) and what requirements and standards such companies must meet. CASPs under MiCA include exchanges, custodial wallets, brokers, trading platforms, crypto-asset portfolio managers, as well as a number of advisory and support services.
After the full implementation of MiCA, a Lithuanian “crypto-license” actually means a CASP authorization issued by a national regulator, but valid throughout the EU. This changes the logic of business planning: a company immediately considers not only the local Lithuanian market, but a full-fledged European service provision space.
National Implementation of MiCA in Lithuania
Lithuania has adopted special amendments to the legislation that integrate MiCA norms into the local legal system and establish a CASP licensing procedure. Unlike the previous regime, when it was enough to register with the Financial Intelligence Unit as a VASP, now it is about full prudential authorization. The central role in this system belongs to the Bank of Lithuania, which acts as the key supervisory authority for CASP.
The transition period for “old” Lithuanian VASPs is relatively short: companies must either bring their activities into full compliance with MiCA and obtain a CASP license, or stop providing services in the field of crypto assets. For new players, this means that from the very beginning it is necessary to build MiCA requirements into the business structure and documentation, so as not to face the need for a painful “restructuring” in a year or two.
How does MiCA change the requirements for a “crypto license” in Lithuania?
- Instead of a simple VASP registration, a full-fledged CASP authorization procedure is being introduced, with verification of the ownership structure, sources of funds, business model, IT and risk management.
- Clear categories of services are emerging (exchange, custody, portfolio management, consulting, etc.), for each of which separate minimum capital requirements are established (approximately EUR 50,000–150,000 depending on the functions).
- Corporate governance requirements are being strengthened: resident director/top management in the EU, independent compliance function, developed operational and IT risk management policies.
How does Prikhodko & Partners help you obtain a MiCA license in Lithuania?
The law firm Prikhodko & Partners offers full support for obtaining a crypto license in Lithuania on a turnkey basis, including adaptation to MiCA requirements. A team of lawyers with experience in EU crypto regulations conducts a comprehensive audit of the business model, structures the UAB corporate form with optimal capital allocation and appointed resident directors.
Thanks to established contacts with Lithuanian partners (AML providers, banks), Prikhodko & Partners shortens the time to obtain CASP status and minimizes the risks of refusal or requests for revisions. Clients receive not only a license, but also a comprehensive compliance plan and entry into the European market.
To receive a consultation and find out the cost of obtaining a crypto license in Lithuania – please fill out the form below.
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