Lithuania Introduces a Mandatory Registration for Crypto Companies

The Lithuanian government first announced in 2019 that it would gradually legalize the digital currency market.

In addition, the Central Bank implemented stricter measures for monitoring virtual currency transactions to comply with laws against money laundering.

This week, the Central Bank announced that starting from July 1, 2024, all crypto companies must be registered in Lithuania. By mid-2025, exchanges and services must obtain a license in order to operate in the country.

The Central Bank stated that companies without a license will not be able to conduct business in Lithuania.

However, if a crypto company is already licensed in another European country, it can still operate freely in Lithuania without an additional license.