The Bank of Lithuania has stipulated that the transition period for encryption asset service providers will last until the end of 2025, and those without a license must cease operations.

PANews December 22 news, the Bank of Lithuania has stipulated that the transitional period for licensed encryption asset service providers will end on December 31, 2025. After the transitional period ends, VASPs that have not obtained CASP licenses under MiCA must cease related services, including no longer accepting new clients, no longer holding client assets, and must properly return client funds and encryption assets. As of July 18, 2025, approximately 30 companies have applied to the Bank of Lithuania for a license to provide encryption asset services, with 10 applications currently under evaluation. Over 370 companies have reported providing encryption asset services to the National Enterprise Register, but only 120 companies are actually operating and generating revenue and submitting financial statements.