Lithuania Sets Deadline for Crypto Service Providers to Obtain Licenses

According to PANews, the Bank of Lithuania has announced that the transition period for crypto asset service providers to obtain licenses will conclude on December 31, 2025. After this date, virtual asset service providers (VASPs) without a Markets in Crypto-Assets (MiCA) license must cease operations. This includes stopping the acceptance of new clients, holding customer assets, and ensuring the proper return of client funds and crypto assets. As of July 18, 2025, approximately 30 companies have applied for crypto asset service provider licenses with the Bank of Lithuania, with 10 applications currently under evaluation. Over 370 companies have registered with the national enterprise registry to offer crypto asset services, but only 120 are actively operating, generating revenue, and submitting financial statements.