The Bank of Lithuania has stipulated a transition period for crypto asset service providers until the end of 2025, during which those without licenses must cease operations.

PANews reported on December 22 that the Bank of Lithuania has stipulated that the transition period for licensing crypto asset service providers will end on December 31, 2025. After the transition period ends, VASPs that have not obtained a CASP license under MiCA must cease their services, including no longer accepting new clients, no longer holding client assets, and properly returning client funds and crypto assets.

As of July 18, 2025, approximately 30 companies had applied to the Bank of Lithuania for a crypto asset service provider license, with 10 applications under evaluation. Over 370 companies have declared their intention to provide crypto asset services to the National Enterprise Registry, but only 120 are actually operating, generating revenue, and submitting financial statements.