In anticipation of European Union licensing regulation, Latvian central bank (Latvijas Banka) is inviting companies seeking a crypto-asset service provider license in Latvia for pre-licensing consultations.

Latvian central bank will begin accepting applications and issuing licenses for crypto-asset service providers from January 2025. In preparation for this, companies are invited to take part in free pre-licensing consultations. Experts from the central bank will provide guidance on the applicable regulations, required documents, and will offer an initial assessment of each company’s compliance with regulatory standards.

These consultations are designed to help businesses submit high-quality applications, facilitating a smooth and efficient official licensing process. There is no fee for these consultations, and companies can easily schedule meetings with a dedicated expert team. Additionally, there is no limit to the number of consultations or meetings a company may request.

Detailed Guides

To further support the application process, the Latvian central bank has prepared detailed guides outlining the steps for obtaining authorization to provide crypto-asset services and issue tokens. These resources include instructions on how to prepare and submit applications, the required documentation, and the timeline for the application review process.

To provide more in-depth information about the licensing process, a webinar will be held on September 30, where experts will discuss the process for obtaining a license to provide crypto-asset services in Latvia.

Interested companies and consulting service providers are invited to register for the webinar by completing the registration form by September 27. The webinar will be conducted in English.

‘The Latvian Blockchain Association is committed to supporting crypto-asset service providers as they navigate the licensing process and transition into the Latvian market,’

said Reinis Znotins, Executive Director of the Latvian Blockchain Association.

‘We offer tailored consultations to help applicants understand regulatory requirements and provide valuable connections within the local ecosystem. Our goal is to make this transition as smooth as possible, ensuring companies can leverage the full potential of the Latvian market while complying with the new MiCA framework.’

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