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

According to Mars Finance, the Bank of Lithuania stipulates that the transition period for licensing crypto asset service providers will end on December 31, 2025. After the transition period, VASPs that have not obtained a CASP license under MiCA must cease their services, including no longer accepting new clients, ceasing to hold 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 crypto asset service provider licenses, with 10 applications currently under evaluation. Over 370 companies have declared their intention to provide crypto asset services to the National Enterprise Registry, but only 120 companies are actually operating, generating revenue, and submitting financial statements.