Lithuania Pushes Unlicensed Crypto Firms for MiCA Compliance
The Bank of Lithuania has issued a stark warning to unlicensed cryptocurrency firms operating within its jurisdiction, urging them to secure licenses under the EU's Markets in Crypto-Assets Regulation (MiCA) by December 31, 2025. Failure to comply could result in severe penalties, including blocked websites, substantial fines, and even criminal charges.
Authorities emphasized that executives of non-compliant firms risk imprisonment for up to four years. The directive applies broadly to exchanges, wallet providers, and other crypto platforms serving Lithuanian users. Firms unwilling to meet the new standards are advised to wind down operations responsibly, ensuring customer funds are returned without disruption.
Despite over 300 companies being listed in the State Register, only 30 have applied for MiCA licenses so far. This regulatory push aligns with the EU's broader strategy to enhance oversight and consumer protection in the crypto sector.
