PANews December 26 News, according to Cryptopolitan, the Bank of Lithuania (Lietuvos Bankas) announced that after legislation incorporated the EU MiCA into domestic law, all crypto service providers must submit license applications by December 31. Providing related services without a license from January 1 will be considered illegal. Regulatory measures include fines, website bans, and in severe cases, criminal charges with a maximum of 4 years imprisonment. The central bank requires non-operating entities to notify customers promptly and complete asset refunds and migrations. It is disclosed that out of approximately 370 registered institutions, only about 30 have applied, with around 120 remaining actively operational. Lithuania aims to serve as a “gateway” for MiCA entry.
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