The Bank of Lithuania (Bank of Lithuania) has set December 31, 2025, as the deadline for licensed cryptocurrency service providers under the EU MiCA regulatory framework. After this date, any cryptocurrency service activities without a license in Lithuania will be considered illegal financial activities under national law.
Currently, there are more than 370 registered companies related to cryptocurrencies, but only about 120 are actively operating. Around 30 companies have submitted license applications, with the regulatory authority reviewing approximately 10 of these applications. The remaining companies must either obtain a license, resume legal operations, or withdraw from the market.
Violations after the deadline may be subject to criminal prosecution, with penalties of up to 4 years in prison, fines, or website blocking. It is expected that the Lithuanian cryptocurrency market will shrink in the number of businesses but grow in scale and compliance levels.
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