ChainCatcher reports, according to market sources, the Bank of Lithuania (Lietuvos Bankas) announced: after legislating the EU MiCA into domestic law, all crypto service providers must submit license applications by December 31, and providing related services without a license from January 1 onward is illegal.
Regulatory measures include fines, website blocking, and severe cases may constitute criminal offenses, with a maximum penalty of 4 years imprisonment. The central bank requires operators who will not continue to promptly notify customers and complete asset returns and transfers. It was disclosed that only about 30 out of approximately 370 registered institutions have applied, with around 120 actually active. Lithuania aims to serve as a “gateway” for MiCA entry.
