Lithuanian Cryptocurrency License-Overview of 2025

Lithuania has become an important European jurisdiction for cryptocurrency companies seeking to regulate a transparent operating environment. As an EU member state, Lithuania offers a stable legal framework in line with international standards and has become a forward-looking hub for fintech and blockchain businesses.

The Crypto Asset Service Provider (CASP) licensing regime in Lithuania is administered by the Bank of Lithuania and supervised by the Financial Crimes Investigation Service (FCIS) or Finansini Nusikaltim Tyrimo Tarnyba(FNTT). Lithuania has issued licenses to hundreds of cryptocurrency companies since 2020, thanks to a clear regulatory process, robust anti-money laundering (AML) requirements, and relatively fast registration timelines.

We offer two options for obtaining a CASP Crypto license in Lithuania:

MiCA licenses under European regulations

The MiCA introduces a unified structured regulatory framework for crypto asset service providers (CASPs) across the EU. Its main objectives are to safeguard the interests of investors, ensure market transparency and promote financial stability in the growing cryptocurrency industry. In order to achieve these objectives, MiCA has divided CASPs into three distinct categories based on the nature of the service, the risk exposure and the size of the operation. Each category has specific licensing, capital, compliance and reporting obligations.

Class 1 CASP-Essential Services

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Funding requirements: € 50,000

Designed for CASPs that provide low risk, advisory and intermediary services with limited risk to client funds. Category 1 providers must comply with MiCA core standards, including licensing, AML/KYC procedures and basic risk controls.

Permitted Activities: Execute orders on behalf of clients Receive and transmit orders for crypto assets Placement of crypto assets Crypto asset transfer services Crypto asset investment recommendations Crypto asset portfolio management.

Class 2 CASP-Custody and Exchange Services

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Funding requirements: € 125,000

This level includes CASPs that hold or exchange crypto assets, which carry greater operational and financial risks. Category 2 providers must meet more stringent compliance requirements, including robust AML/KYC programs, enhanced cybersecurity and liquidity safeguards.

Additional Activities (except Category 1): Custody and Management of Crypto-Assets Exchange Crypto-Assets for Funds (Crypto-Currency to US Dollars) Exchange Crypto-Assets for Other Crypto-Assets (Crypto-Currency to Crypto-Currency)

Class 3 CASP-Trading Platform Operator

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Funding requirements: € 150,000

CASP, which operates the trading platform, is regulated at the highest level due to its system relevance and trading volume. These companies must implement advanced risk management systems, operational flexibility measures and market surveillance mechanisms.

Additional Activities (in addition to Category 1 and Category 2): Operating Crypto Asset Trading Platforms

Local regulation of companies licensed by CASP in Lithuania

With its transparent regulatory environment and proactive MiCA harmonization approach, Lithuania has become one of the major EU jurisdictions for cryptocurrency businesses. The Bank of Lithuania is the competent authority overseeing the licensing and regulation of the CASP in accordance with national and EU law. Key highlights of Lithuanian legislation:

The Money Laundering and Terrorist Financing Prevention Act regulates all virtual asset service providers (VASPs), including mandatory KYC procedures, internal controls and reporting duties.

As of April 29, 2025, Lithuania has aligned its national framework with MiCA and extended the transition period for the existing CASP until January 1, 2026, giving companies more time to obtain full MiCA-compliant licenses.

The CASP must be registered with the registry and obtain a license from the Bank of Lithuania, which includes an assessment of the company's share capital, management structure, anti-money laundering policies and IT security protocols.

Lithuania requires the appointment of a local Money Laundering Reporting Officer (MLRO), board-level oversight of cryptocurrency services, and full transparency of the UBO (ultimate beneficial owner).

With its clear processes, experienced regulators and high regulatory reputation, Lithuania will continue to attract serious cryptocurrency businesses that want to operate legally within the EU under the MiCA.

Why work with us in Lithuania?

Establishment of a specialized legal department

We have been actively working in Lithuania for many years to provide strategic guidance and comprehensive legal support for cryptocurrency businesses. Our local in-house legal department ensures that you comply with national laws and evolving EU regulations at every step of the licensing process.

Expert guidance through the Lithuanian regulatory framework

Our team has an in-depth understanding of the cryptocurrency licensing process and regulatory environment in Lithuania. We simplify the process to ensure that all legal requirements are passed smoothly, helping your business to efficiently obtain and maintain CASP licenses.

Tailored, hands-on support

We provide personalized assistance based on your business model and goals. Whether you are launching a new business or adapting an existing one to MiCA's requirements, we provide proactive support to ensure that nothing goes wrong.

Complete application management

From preparing and translating all necessary documents to handling official communication with the Bank of Lithuania, we manage the entire CASP license application process, saving you time and minimizing administrative work.

Local expertise with a global perspective

Our in-depth knowledge of Lithuania's legal and regulatory ecosystem is complemented by our knowledge of global cryptocurrency trends. This dual perspective makes your company successful both nationally and internationally.

Real-time compliance monitoring and strategic recommendations

We actively follow legal developments in Lithuania and across the EU, including the MiCA and Anti-Money Laundering amendments. Once an update occurs, we will act quickly to advise you on the best course of action to ensure continued compliance and operational stability.

Ready to launch a licensed cryptocurrency business in Europe?

Work with our experienced licensing team to ensure your business is licensed quickly, cost-effectively, and fully compliant with all regulatory requirements.

The cost of obtaining a cryptocurrency license in Lithuania

• General consultation
• Verify the legal status of existing companies
• Complete MiCA documentation in English and Lithuanian
• Formal submission of application to the Bank of Lithuania
• Ongoing regulatory support and communication
• Updating company documents in Lithuanian and English

• General consultation
• Establishment of a company in Lithuania
• Preparation of all documents for the issuance of licences for the Maritime Commission of Central African States
• Review documents, rules and policies
• Submission of documents to the Bank of Lithuania
• Further communication with national authorities
• State fees and notarial fees
• Company documents in Lithuanian and English

VASP changed to CASP under MiCA license in Lithuania

Please note that due to the large number of applications, we strongly recommend that you submit your application as early as possible to ensure a place in the review queue and avoid possible regulatory delays.

Initial general consultation

The process begins with a comprehensive consultation to assess your company's current structure, scope of services and regulatory position. We will help your company determine the appropriate CASP classification (Class 1, Class 2 or Class 3) based on your company's business model, risk exposure and compliance, and indicate any gaps that need to be resolved under MiCA.

Verification of legal status

The legal status of your company must be verified to ensure eligibility for a CASP license. This includes the confirmation that the company is incorporated in Lithuania, has a valid VASP registration in the Registr centras, and fully complies with the existing national compliance requirements.

Enterprise Document Review and Preparation

All corporate documents must be updated to meet MiCA and Bank of Lithuania standards. This includes articles of incorporation, ownership and control structures, AML/CFT policies, internal governance and operating procedures. Documents must be written in Lithuanian and English to meet regulatory requirements and be used inside and outside Lithuania.

Comprehensive local staff recruitment support

If you need support in recruiting local staff, we can provide end-to-end assistance in appointing qualified Anti-Money Laundering Reporting Officers (MLROs) and members of your local management board. Our services include locating and evaluating candidates, conducting interviews, assessing regulatory qualifications, drafting compliant employment agreements-ensuring that selected MLROs and/or directors meet local and EU standards.

Submitted to the Bank of Lithuania

Your application for a CASP license will be submitted to the Bank of Lithuania (Lietuvos Bankas), including all required forms and supporting documents. Further clarification may be requested by the bank, so the preparation of an adequate and complete package of documents is essential for smooth passage of the review.

Ongoing regulatory support

We provide continuous support throughout the application life cycle, handle communication with the Bank of Lithuania, respond to inquiries and ensure that your company always complies with changing regulatory requirements. Our legal team in Lithuania ensures timely and accurate representation in Lithuanian and English.

Lithuanian Cryptocurrency License Application Step Roadmap

Our team of professionals, including individual managers and lawyers, will provide full support at every stage of the process. We will thoroughly review all your documents, guide you to the next steps and provide recommendations based on your preferred option.

Initial consultation

First, our experts will provide you with a comprehensive consultation based on your preferred communication method-we usually use phone, Telegram, WhatsApp and Google Meet. During the consultation, they will introduce you to all the basic details and guide you through the whole process step by step.

Note: You will receive a comprehensive overview of our services, as well as a detailed explanation of the relevant Lithuanian regulations and compliance requirements, ensuring that you are fully informed and confident in your future decisions.

Preparing KYC files

KYC information must be compiled for the company founders to draft the necessary documents and outline the next steps. Our team will carefully review these documents and advise you on next steps.

Note: "Know Your Customer" (KYC) documents include, but are not limited to, completed customer forms, proof of address and identification documents. These documents are required to be in digital format and do not need to be notarized, annotated or certified. Your dedicated personal manager will provide you with a complete list of required documents based on your specific requirements.

Company Registration Process

Since the official language of Lithuania is exclusively Lithuanian, all documents must be translated accordingly. Our team works with certified translators to ensure the accuracy and reliability of translations, giving you confidence in the correctness of your documents. After the translation is completed, all documents will be submitted to the notary office with which we have a long-term cooperation.

Note: Through years of cooperation, we have established mutual understanding and efficient communication. If the notary office raises any comments or questions, we will be notified in a timely manner. As a rule, the notary office immediately accepts documents and initiates the procedure of company registration, including the preservation of the company name and the preparation of all necessary internal documents.

Company Document Preparation

Before applying for a CASP license under the MiCA framework, companies must first determine their business model and determine the appropriate regulatory classification (Class 1, Class 2 or Class 3). This decision affects the level of regulatory obligations, including capital and compliance requirements.

Robust anti-money laundering and "know-your-customer" policies must be in place to meet legal standards, while a solid risk management and governance framework is in place to address operational, financial and security risks.

Note: All necessary company documents, such as business plans, internal procedures and compliance policies, must be prepared in advance to support the smooth and successful application process.

Opening a company account

As of 1 January 2025, the Lithuanian CASP must open a corporate account with the Bank of Lithuania (financial institution) or a foreign bank with a presence in Lithuania. It is important to note that this requirement applies only to traditional banks; payment systems and electronic money institutions do not meet the necessary standards.

Note: We conducted a comprehensive market analysis and engaged with all relevant banks to determine the best solution for Crypto Asset Service Providers (CASP). In addition to the basic corporate bank account required for legal compliance, the company will also maintain an additional corporate account in the international payment system, thereby improving its business opportunities and operational flexibility.

Appointment of directors and directors of local anti-money laundering offices

We offer full support for hiring key local personnel, including a Money Laundering Reporting Officer (MLRO) and a Management Board member. Our services cover the entire process-from identifying and evaluating qualified candidates to conducting interviews, verifying compliance with regulatory requirements, and preparing employment agreements that meet Lithuanian and EU standards.

Note: For our part, we will select candidates from our talent pool and forward their profiles (CV and KYC) to the client's selection committee, and then arrange a joint conference call for further discussion. If the candidate is approved, the accountant will be responsible for registering with SODRA and signing the employment contract. Their main responsibilities include maintaining communication with regulatory authorities, submitting required reports, informing the relevant authorities of any suspicious transactions, etc.

Submission of CASP License Application

Upon completion of all preparatory work, an application for a CASP permit is submitted to the Bank of Lithuania. The application must prove that the company is legally registered, provide KYC documents for shareholders and directors, confirm the required share capital, and include detailed policies.

Note: Submit documents outlining the company's AML and KYC procedures, demonstrating compliance with Lithuanian legislation, the European Securities and Markets Authority (ESMA) and the Financial Action Task Force (FATF) standards.

Post-registration procedures

Regardless of whether the primary registration process is completed, the company may require additional services to ensure its continued compliance and operational efficiency. These services may include legal support for drafting and certifying company documents and preparing legal opinions. In addition, ongoing monthly accounting assistance and annual reporting may be required to meet regulatory obligations and promote sound financial management.

Note: We maintain continuous communication with our customers to ensure that the "window of opportunity" for cooperation is always open. Therefore, if the company needs any help, as long as it is within our ability, we are very willing to provide support. Our commitment to our customers is not limited to the initial cooperation, because we are committed to building long-term partnerships based on trust and responsiveness.

Lithuanian ready-made cryptocurrency companies

Although the transition period for existing value-added service companies in Lithuania has been extended to 1 January 2026, the acquisition of such entities remains extremely challenging. Market supply is limited because most active companies are stable, successful, with no legal or reputational risk, and therefore rarely sell. In addition, regulators, including notaries and commercial registries, often take a negative view of equity transfer transactions.

For these reasons, we do not currently offer a ready-made VASP company, nor do we consider it a practical or high-value solution. Based on our experience and in-depth knowledge of the Lithuanian regulatory environment, the most reliable and effective route is still to set up a new company and apply for a CASP license from scratch.

Nevertheless, if you have acquired an existing VASP and need support in adapting it to the new MiCA framework, we can help you.