Lithuanian central bank warns: Unlicensed crypto services will be illegal from January 1 under MiCA

PANews, December 26 – According to Cryptopolitan, the Bank of Lithuania (Lietuvos Bankas) has announced that following the legislation incorporating the EU MiCA into national law, all crypto service providers must submit license applications by December 31. Providing related services without a license will be considered illegal from January 1. Regulatory measures include fines, website blocking, and, in severe cases, criminal charges with a maximum sentence of four years in prison. The central bank requires those ceasing operations to promptly notify clients and complete asset returns and migration. It was disclosed that out of approximately 370 registered institutions, only about 30 have applied, with around 120 actually active. Lithuania aims to serve as a “gateway” for MiCA entry.