MiCA in Detail: Lithuania – What VASPs Need to Know in 2026

Lithuania is preparing for the full implementation of the European MiCA (Markets in Crypto-Assets) regulation, which establishes uniform rules for cryptoasset regulation in the EU. In this context, the Lithuanian Financial Crime Investigation Service (FNTT) reminded market participants of key deadlines and obligations for virtual asset service providers (VASPs).

The main reminder concerns the end of the transition period: December 31, 2025, is the last date by which VASPs can operate without a license. Effective January 1, 2026, all companies providing cryptoasset-related services are required to hold a cryptoasset service provider (CASP) license. Unlicensed companies automatically lose their right to operate in Lithuania.

However, it is important to understand that ceasing operations does not mean ceasing obligations to the regulator.

Obligations continue even after the business is closed

VASPs that decide to terminate their services after January 1, 2026, are required to ensure proper storage of client data and transaction records. Proper documentation transfer is also required in accordance with AML/CFT legislation. This is critical for potential future audits and investigations.

Reporting deadlines are strictly controlled

All outstanding suspicious transaction reports (STRs) and large transaction reports (CTRs) for the period up to December 31, 2025, must be submitted in full. After January 1, 2026, an additional three-month deadline is provided for completing reporting. After this deadline, access to the FNTT reporting system will be disabled, and overdue applications will be reviewed on a case-by-case basis.

A designated contact person is a mandatory element of communication

FNTT strongly recommends appointing a designated contact person for at least three months after January 1, 2026. This person must be available to communicate with the regulator, provide clarifications, and transfer documents if necessary.

Strix Platform Questionnaire

Starting December 15, 2025, the VASP offered to complete a questionnaire in the Strix system. It covers licensing status, termination of operations, and other important aspects required by FNTT for oversight and market data updates.

With tightening regulations and key deadlines approaching, it is important to evaluate your strategy in advance—obtaining a CASP license, properly closing your business, or restructuring your operations. IT-OFFSHORE specialists will help you understand MiCA requirements, prepare documentation, establish communications with FNTT, and choose the optimal solution for your crypto project.