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- Lietuvos Bankas urges crypto companies to apply for licenses before December 31.
- Firms operating without a license will face fines, website blocks, and criminal charges.
- Less than 10% of crypto businesses in Lithuania have applied so far.
Lietuvos Bankas, the central bank in Vilnius, has issued a strong warning to the country’s crypto industry. All crypto service providers must obtain a license by December 31, 2025. Those who fail to comply will be considered in violation and may face severe penalties.
The regulator wants to enforce the European Union’s Markets in Crypto Assets (MiCA) rules. Lithuania aims to become a key MiCA gateway for crypto businesses in the EU. The licensing requirement applies to all entities offering cryptocurrency services, including exchanges, wallet providers, and other digital asset platforms.
Lietuvos Bankas emphasizes that companies should not wait until the last moment to submit applications. A transitional period allowing existing businesses to obtain authorization will end with this deadline. After that, operations without a license will be strictly prohibited.
Unlicensed Crypto Services Illegal from January 1
The central bank has also guided companies that do not intend to continue operations. Firms must inform their clients about the winding-down process. Customers should receive clear instructions on how to transfer funds and digital assets safely.
They must have options to move coins to self-hosted wallets or other custodians. Lietuvos Bankas stressed that operators must return all client assets before they lose authorization.
The regulator warned that continuing to onboard new users or provide crypto services without a license will be illegal starting January 1. Violations can result in fines or imprisonment of up to four years. The central bank can also block websites and alert law enforcement about suspected illegal activity.
Few Crypto Firms Apply for Licenses in Lithuania
So far, only about 30 out of over 370 registered crypto businesses have applied for a license. Roughly 120 of these companies are actively reporting revenue. Lietuvos Bankas has issued guidance to protect investors and ensure market transparency.
Lithuania is positioning itself as a major EU hub for crypto services under MiCA. The country recently ranked among the top three in the 2025 World Crypto Rankings. Neighboring Latvia is following a similar path, reporting an annual fintech turnover of €400 million.
The message from Vilnius is clear: compliance is mandatory. Crypto companies must act quickly. The deadline is firm, and the central bank is ready to enforce the rules. Those who ignore it risk fines, criminal charges, and a complete loss of market access.
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