The Bank of Lithuania has stipulated a transition period for cryptocurrency service providers until the end of 2025, after which those without a license must cease operations

The Bank of Lithuania has stipulated that the transition period for licensed crypto asset service providers will end on December 31, 2025. After the transition period, VASPs that have not obtained a CASP license under MiCA must cease related services, including no longer accepting new clients, no longer holding client assets, and must properly return client funds and crypto assets.

As of July 18, 2025, approximately 30 companies have applied to the Bank of Lithuania for a crypto asset service provider license, with 10 applications currently under evaluation. More than 370 companies have reported providing crypto asset services to the National Enterprise Register, but only 120 companies are actually operating, generating revenue, and submitting financial statements.