The central bank of Latvia has announced that pre-licensing consultations will be available for any crypto asset service providers (CASPs) seeking a MiCA-compliant license in the country.
This service will be available from January 2025, when the bank will officially accept and issue licenses for CASPs in Latvia. In the meantime, the bank is offering free consultations to help companies prepare for the licensing process.
As part of the consultations, experts from the central bank will guide companies on the relevant regulations, required documents, and provide an initial assessment of each company’s compliance level.
Reinis Znotiņš, the executive director of the Latvian Blockchain Association, expressed the association’s commitment to supporting local CASPs in navigating the new licensing requirements.
The goal is for a smooth transition for companies, allowing them to benefit from the potential of the Latvian market while adhering to the new MiCA framework.
