On April 9, the Lithuanian Parliament’s Budget and Finance Committee held an important discussion on the national implementation of the EU’s MiCA regulation (Markets in Crypto-Assets, Regulation (EU) 2023/1114). The session brought together representatives from the Ministry of Finance, the Bank of Lithuania, the Financial Crime Investigation Service, and key industry associations.  https://www.lrs.lt/sip/portal.show?p_r=35403&p_k=1&p_t=291442

The core issue on the table: the short licensing deadline. Under MiCAR, all crypto asset service providers (CASPs) operating in Lithuania must obtain a license from the Bank of Lithuania by June 1, 2025. Given the current volume of providers — over 400 registered, with around 120 active — the five-month transition period was widely viewed as insufficient. By contrast, other EU jurisdictions offer timelines ranging from 6 to 18 months.

📌 Key proposal:
The Committee announced its intention to submit amendments extending the licensing deadline until the end of 2025. This move would grant businesses more time to prepare for the new regulatory environment and provide supervisory authorities with the capacity to review applications thoroughly and efficiently.

🔍 Why this matters:
While the proposal is not yet adopted, the fact that it is being actively considered sends a strong and encouraging message: Lithuanian regulators are engaging with the industry, responding to its concerns, and prioritizing a smooth and sustainable implementation of MiCAR.

🇱🇹 With its transparent approach, regulatory clarity, and openness to dialogue, Lithuania continues to solidify its position as one of the most attractive jurisdictions in the EU for crypto businesses seeking a stable and forward-looking regulatory environment.