On December 30, the new Markets in Crypto-Assets Regulation (MiCA) will come into effect, introducing a unified legal framework and a unified licensing regime for the crypto-asset industry across the European Union (EU).
Latvijas Banka will accept applications and issue licences for crypto-asset service providers starting from January 2025.
Before all that, Latvijas Banka invites crypto-asset service providers to participate in free pre-licensing consultations.
"Experts at Latvijas Banka will offer guidance on the applicable regulations and required documents and will conduct an initial assessment of the company's compliance with regulatory requirements. The pre-licensing phase helps companies prepare high-quality licence applications, ensuring a swift and efficient official licensing process. The pre-licensing consultations are free of charge, and the meetings with a dedicated expert team at Latvijas Banka are easy to arrange," said LB.
Companies can apply for consultations on Latvijas Banka's website.
Latvijas Banka has also created guides on obtaining authorisation to provide crypto-asset services and issue tokens. These guides offer a clear overview of how to prepare and submit an application to Latvijas Banka, which documents are required, and the timeline for the application's assessment. The guides are also available on Latvijas Banka's website.
Obtaining a licence in Latvia will allow a crypto-asset service provider to offer services throughout the EU under the passporting mechanism.
Latvijas Banka's experts will also provide detailed information about obtaining a licence for providing crypto-asset services in Latvia in a webinar on 30 September. The webinar will be conducted in English.
