MICA IN THE BALTICS
How Latvia, Lithuania, and Estonia Are Getting Ready for the EU’s New Crypto Rules
If you are running a crypto business in the Baltics, chances are you have heard a lot about MiCA. The EU’s Markets in Crypto- Assets Regulation officially came into force in 2024, and by now, everyone from exchanges to wallet providers is figuring out what it means for them.
Let’s take a tour through how Latvia, Lithuania, and Estonia are implementing MiCA and what crypto firms in each country need to know.
LITHUANIA
Lithuania has always been one of the more proactive countries when it comes to regulating crypto. Oversight of MiCA licensing here falls under the Bank of Lithuania, which has set clear expectations for Crypto Asset and Service Providers (CASPs).
Originally, firms had until June 2025 to get their MiCA licenses sorted, but that deadline has now been extended to January 2026. To apply, CASPs need to prepare quite a bit including proof of management experience, business plans, risk management policies, IT security details, and financial forecasts.
The capital requirements depend on the type of activity but generally fall between €50,000 and €150,000.
The Bank of Lithuania can reject applications if a company does not meet these standards for example, if ownership is unclear or capital thresholds are not met.
ESTONIA
Estonia’s crypto scene has been booming for years. Now, with MiCA rolling in, the country is transitioning from its national licensing system to EU-wide standards.
From early 2025, the Estonian Financial Supervisory Authority (FSA) handles MiCA authorisations, while the Financial Intelligence Unit (FIU) continues to supervise older registrations until July 2026.
That means if you already have a crypto license under Estonian law, you can keep operating until July 2026. But you will need to apply for MiCA authorisation before then.
The new requirements are stricter than before. For example:
→ You will need a local presence (a real office in Estonia and at least one board member living there).
→ Capital requirements can range widely, typically around €100,000–€350,000 depending on your services.
→ You must show a two-year business plan, strong AML controls, and regular audits.
The upside? Once you are licensed, you can passport your services across the entire EU no need for multiple national licenses.
LATVIA
Over in Latvia, MiCA implementation is led by Latvijas Banka, which now oversees licensing for CASPs.
Latvia has set a 12-month transition period, ending on 30 December 2025. During this time, existing crypto firms can keep operating while applying for their MiCA licenses.
To apply, companies need to:
→ Meet MiCA’s capital requirements.
→ Submit registration certificates and a clear business strategy.
→ Undergo IT and security audits to prove systems are secure.
→ Show that management and staff are competent and compliant with regulatory duties.
Applications are submitted via the CASP registry, and there’s a €2,500 processing fee, plus an annual supervisory fee which is 0.6% of gross profits, with a minimum of €3,000.
Once submitted, Latvijas Banka reviews all documentation, performs checks, and typically reaches a decision within 60 days. After licensing, firms must file regular reports and stay compliant with MiCA’s ongoing obligations.
CONCLUSION
MiCA is reshaping how crypto firms operate across the Baltics.
Lithuania is pushing for early compliance, while Estonia is tightening standards for a more mature market. Latvia, on the other hand, is building a clear and methodical regulatory system.
Together, these three countries are proving that the Baltics are not only crypto-friendly but also ready to lead Europe’s next phase of regulated digital finance.
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