AdamSmith Law Office Expert Dmitry Malyshev Comments on Lithuania’s Extension of the MiCA Transitional Period for CASP/VASP and Crypto License Adaptation Until January 1, 2026

PRESS RELEASE.

Vilnius, Lithuania – April 30, 2025 — In a significant move to support the crypto industry during its transition to the European Union’s Markets in Crypto-Assets Regulation (MiCA), the Lithuanian Parliament (Seimas) has enacted legislation extending the transitional period for existing crypto-asset service providers (CASPs) until January 1, 2026. This extension provides additional time for CASPs to align with the stringent requirements of MiCA and obtain the necessary licensing from the Bank of Lithuania.

The initiative, spearheaded by the Ministry of Finance in collaboration with the Bank of Lithuania, was driven by feedback from industry stakeholders who expressed concerns about the initial transition timeline. The extension aims to ensure a smoother adaptation process for CASPs, allowing them to continue operations under existing national regulations while preparing for full compliance with MiCA.

Under the new legislation, CASPs operating in Lithuania as of December 30, 2024, can maintain their services without immediate MiCA authorization, provided they submit their licensing applications to the Bank of Lithuania by the new deadline. This approach balances the need for regulatory compliance with the practical challenges faced by service providers in adapting to the comprehensive MiCA framework.

The Bank of Lithuania will oversee the licensing process, ensuring that applicants meet the necessary standards for capital adequacy, governance, and anti-money laundering measures. The Financial Crime Investigation Service (FNTT) will continue to monitor compliance with financial crime prevention regulations during this transitional period.

This legislative development positions Lithuania as a supportive environment for crypto businesses navigating the evolving regulatory landscape in the EU. By providing a clear and extended timeline for compliance, Lithuania reaffirms its commitment to fostering innovation while upholding financial stability and consumer protection.

Adapting to MiCA

AdamSmith.lt offers comprehensive support for adapting businesses to the requirements of the EU’s Markets in Crypto-Assets Regulation (MiCA), which establishes uniform standards for crypto-asset service providers (CASPs) across the European Union. Under MiCA, companies must comply with strict requirements regarding capital adequacy, corporate governance, client asset protection, and anti-money laundering measures, supervised in close cooperation with the European Securities and Markets Authority (ESMA).

We actively work with companies based in Lithuania, the Czech Republic, Poland, and Estonia — key jurisdictions for crypto businesses within the EU, where MiCA standards will be enforced through CASP licensing regimes. Among our clients are more than 1,000 companies that have successfully obtained crypto licenses within the European Union with our assistance.

AdamSmith.lt is managing numerous adaptation projects to help businesses align with MiCA, providing complete, ready-to-use document packages developed in accordance with local regulatory requirements and ESMA standards. Our documentation includes AML/KYC policies, internal risk management frameworks, client asset protection procedures, corporate governance plans, and business model descriptions.

Having a standardized portfolio of solutions allows us to significantly accelerate the adaptation process, reduce costs, and offer clients optimal terms in both timing and pricing. Our extensive experience in international crypto and financial licensing, combined with in-depth knowledge of MiCA requirements, ensures efficient and reliable support for businesses of any scale.

Alternative Jurisdictions

Panama

Panama offers a favorable business environment with no crypto-specific regulations, allowing companies to operate flexibly without a mandatory crypto license.

Seychelles

Seychelles provides an offshore structure with indirect regulation of crypto activities, minimizing licensing obligations.

Kazakhstan

Kazakhstan has a clearly defined regulatory framework for digital asset activities under the Astana International Financial Centre (AIFC), with a required minimum capital of USD 500,000 and tax benefits until 2066.

SVG

Saint Vincent and the Grenadines (SVG) grants crypto licenses under the 2022 Virtual Assets Act, authorizing crypto exchange, custody, and DeFi activities via SVGFSA.

Canada

Canada offers a transparent MSB (Money Services Business) licensing regime for cryptocurrency operations, enabling quick and legal market entry.

Our legal activity

AdamSmith.lt actively assists clients in obtaining crypto licenses and relocating crypto businesses to Panama, Seychelles, Kazakhstan, SVG, and Canada, ensuring smooth transitions and full regulatory compliance.

AdamSmith.lt actively supports clients both in the process of relocating their businesses to new jurisdictions and in adapting their operations to the new MiCA requirements.

At the same time, we are managing a large number of adaptation projects for businesses preparing to comply with MiCA, supported by fully developed document packages designed in accordance with regulatory requirements.

The availability of standardized solutions allows us to efficiently launch adaptation processes and offer clients competitive terms in terms of speed and cost.

We provide comprehensive support, enabling companies to confidently meet the new regulatory standards within the European Union.

About AdamSmith.lt

AdamSmith.lt is a leading legal consultancy specializing in international crypto and gambling licensing. Since the introduction of the first crypto licenses in Estonia, our team has successfully assisted in obtaining more than 1,000 licenses across various jurisdictions, including Estonia, Lithuania, the Czech Republic, Poland, Panama, Saint Vincent and the Grenadines, El Salvador, as well as MSB licenses in Canada.

Our services go beyond licensing; we also provide professional assistance in obtaining gambling licenses and collaborate with leading SaaS providers to offer innovative solutions for crypto gambling platforms.

Our holistic approach ensures that clients receive comprehensive support tailored to the specifics of their business.

Expert opinion

Dmitry Malyshev, an experienced lawyer and crypto licensing specialist at AdamSmith.lt, emphasizes the importance of Lithuania’s decision:

“The Lithuanian Parliament’s decision to extend the MiCA transitional period until January 1, 2026, is a strategic step that recognizes the challenges associated with adapting to the new regulatory framework. This extension not only provides additional time for existing CASPs but also strengthens Lithuania’s position as a progressive jurisdiction within the crypto space. It is essential for companies to begin the adaptation process now in order to meet the deadlines smoothly. Contrary to common fears, full compliance with MiCA is absolutely achievable with the right preparation and guidance.”

Learn more about MiCA adaptation here: https://adamsmith.lt/en/crypto-license/mica-licensing/

Contact us:

Website: www.adamsmith.lt

LinkedIn: https://www.linkedin.com/in/dmitry-malyshev-68451a238/

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