Central Bank of Latvia Offers Pre-Licensing Consultation for Crypto Firms
Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...
In response to the phased implementation of the European Union (EU) Markets in Crypto-Assets Regulation (MiCA), the Central Bank of Latvia introduced a pre-licensing consultation service for local crypto-asset service providers (CASPs) in the country, according to an August 29 press release.
As part of Latvia’s efforts to align with MiCA, the initiative provides free guidance to companies looking to operate within the framework, helping them prepare for the formal licensing process that will begin in January 2025.
The Central Bank of Latvia’s pre-licensing consultation program is designed to support crypto businesses by offering expert advice on regulatory compliance, documentation requirements, and preliminary readiness assessments.
Companies interested in acquiring MiCA-compliant licenses can request unlimited consultations. This allows them to clarify regulations, address compliance concerns, and fully prepare before officially submitting their applications in 2025.
Similarly, experts from the central bank will provide tailored guidance, ensuring CASPs meet the necessary regulatory standards under MiCA.
This proactive measure seeks to smooth the transition for firms, allowing them to enter the Latvian market confidently.
The Latvian Blockchain Association has also expressed strong support for the pre-licensing initiative.
Our Operations Manager, @EimanteRim, had the pleasure of attending a pivotal event today in Riga, focusing on the FinTech & Crypto sectors.
It was a great opportunity to engage with the Bank of Latvia & Latvian
