Crypto & Digital Assets · Latvia
Crypto license in Latvia: MiCA CASP requirements (2026)
Latvia shaded by its crypto & digital assets status
Crypto is regulated in Latvia.
FrameworkEU Markets in Crypto-Assets Regulation (MiCA, Regulation (EU) 2023/1114) implemented nationally by Latvia's Law on Crypto-asset Services (Kriptoaktīvu pakalpojumu likums, adopted 13 July 2024); Latvijas Banka is the single competent authority for licensing and supervision.
Latvia operates a comprehensive, in-force crypto regulatory regime built on EU MiCA plus its dedicated 2024 national Law on Crypto-asset Services, with Latvijas Banka as the national competent authority. CASP authorisations have been issued since the regime applied on 30 December 2024 (first MiCA licence to BlockBen on 3 Dec 2025; multiple licences issued through 2026), and stablecoin issuer rules have applied since 30 June 2024. Tax treatment, AML, and the EU DAC8/CARF crypto-reporting regime (effective 1 January 2026, enforcement from 1 July 2026) complete the framework.
How to get a crypto license in Latvia
To provide crypto-asset services in Latvia you need a MiCA CASP authorisation (Crypto-Asset Service Provider), supervised by Latvijas Banka, under the EU Markets in Crypto-Assets Regulation (MiCA), Title V.
- Authority
- Latvijas Banka
- License required
- a MiCA CASP authorisation (Crypto-Asset Service Provider)
- Framework / law
- the EU Markets in Crypto-Assets Regulation (MiCA), Title V
- Minimum capital
- €50,000–€150,000 minimum, by service class (Class 1/2/3)
- Timeline
- about 40 working days of substantive review; 1–3 months for a well-prepared application
- Cost
- an application fee of roughly €5,000–€25,000, plus ongoing supervisory fees
- Passporting
- Yes — a single MiCA CASP licence passports across all 27 EU member states.
What a crypto license in Latvia covers
- Custody and administration of crypto-assets for clients
- Operating a trading platform for crypto-assets
- Exchanging crypto-assets for funds, or for other crypto-assets
- Executing orders for crypto-assets on behalf of clients
- Reception and transmission of orders, and placing of crypto-assets
- Advice and portfolio management on crypto-assets
- Transfer services for crypto-assets on behalf of clients
How to get a crypto license in Latvia: step by step
- 1Incorporate a legal entity with a registered office in the member state, with at least one director resident in the EU.
- 2Build the application file: programme of operations, business plan, governance, AML/CFT, ICT resilience and client-asset segregation.
- 3Submit the application to the national competent authority.
- 4Completeness check: the authority has 25 working days to confirm the file is complete and request anything missing.
- 5Substantive assessment: the authority has 40 working days to grant or refuse the authorisation.
- 6Once authorised, notify the passport to the host member states you intend to serve, then begin operating across the EU.
Documents required in Latvia
- Programme of operations describing each crypto-asset service you will provide
- Business plan with three-year financial projections
- Evidence of prudential safeguards (own funds or qualifying insurance)
- Governance arrangements, organisational chart and internal-control description
- AML/CFT policies and the appointment of a compliance officer
- ICT security, business-continuity and DORA-aligned resilience policies
- Custody and client-asset segregation arrangements
- Complaints-handling procedure and conflict-of-interest policy
- Fit-and-proper evidence for directors and qualifying shareholders (CVs, criminal-record certificates)
After authorisation: ongoing obligations in Latvia
- Maintain prudential safeguards and own funds at or above the class minimum
- Keep client crypto-assets segregated from the firm's own assets
- Run continuous AML/CFT monitoring, screening and suspicious-activity reporting
- Keep marketing communications fair, clear and not misleading
- Operate complaints handling and manage conflicts of interest
- Meet ICT resilience and incident-reporting duties under DORA
- File periodic reports to the national competent authority
Crypto license in Latvia: FAQ
Yes. To provide crypto-asset services in Latvia you need a MiCA CASP authorisation (Crypto-Asset Service Provider), supervised by Latvijas Banka, under the EU Markets in Crypto-Assets Regulation (MiCA), Title V.
Latvijas Banka.
An application fee of roughly €5,000–€25,000, plus ongoing supervisory fees.
Typically about 40 working days of substantive review; 1–3 months for a well-prepared application.
The application file centres on programme of operations describing each crypto-asset service you will provide; business plan with three-year financial projections; evidence of prudential safeguards (own funds or qualifying insurance); governance arrangements, organisational chart and internal-control description; plus fit-and-proper evidence for directors and qualifying shareholders.
Incorporate a legal entity with a registered office in the member state, with at least one director resident in the EU. Build the application file: programme of operations, business plan, governance, AML/CFT, ICT resilience and client-asset segregation. The authority then assesses the file and, once authorised, you can begin operating.
Yes — a single MiCA CASP licence passports across all 27 EU member states.
Key points
Latvia's Law on Crypto-asset Services entered into force on 30 June 2024 and applies to CASPs from 30 December 2024, complementing MiCA and designating Latvijas Banka as the supervisory authority and the licensor for crypto-asset issuers and service providers.
Latvijas Banka (the central bank, which absorbed the FCMC in 2023) authorises and supervises CASPs and crypto-asset issuers, runs free pre-licensing consultations and an Innovation Hub, with a 25-day completeness check and 40-day substantive review process.
First MiCA CASP licences in Latvia were issued by Latvijas Banka on 3 December 2025 (BlockBen SIA; Nexdesk); Paybis received a landmark dual MiCA/PSD2 authorisation in May 2026, and a fourth crypto licence was issued in May 2026.
The State Revenue Service (VID) treats crypto-assets as capital assets: gains on conversion to fiat or other goods are taxed at the 25.5% capital gains rate; crypto-to-crypto swaps are not a taxable event; quarterly declarations are required if quarterly income exceeds €1,000.
Latvia transposed DAC8 and the OECD CARF via Bill 24-TA-3148 (approved June 2025); reporting CASPs must file annual reports to VID on prior-year crypto transactions, with the regime live on 1 January 2026 and full compliance required by 1 July 2026; fines up to €14,000 for non-compliance.
CASP minimum own-funds requirements follow MiCA's three classes (€50,000 / €125,000 / €150,000). Crypto-asset offerings: below €1m no notification; €1-8m requires an offer document; above €8m requires a prospectus approved by Latvijas Banka.
Latvia - other topics
Crypto & Digital Assets in other countries
Last verified 6/12/2026 · Orientation, not legal advice - verify against the primary sources linked above. Methodology & how to cite · State of Technology Regulation 2026 · Explore the full world map →