CASP license
A Lithuania-licensed virtual-asset service provider, retained the firm to prepare its off-ramp and on-ramp business lines for the forthcoming application of the Markets in Crypto-Assets Regulation (MiCA) to asset-referenced and e-money tokens.
The engagement began with a comprehensive gap analysis:
- we examined the company’s current issuance, custody and exchange flows against MICA and against supervisory guidance published by ESMA and the Bank of Lithuania. Building on that analysis;
- we designed an implementation roadmap that realigns the client’s token classifications, marketing practices with the new regime.
Deliverables included revised internal policies and detailed briefing memoranda for compliance, risk and product teams. All work product was produced in English to match the group’s operating language.
As a part of the project we advised the client on the optimal licensing path under Lithuanian law, including eligibility under existing VASP (Virtual Asset Service Provider) rules and future alignment with MiCA for CASPs. We assessed the scope of crypto-asset services offered, including wallet custody, exchange, fiat ramps, and token issuance, and mapped them against MiCA definitions and licensing requirements.
In partnership with lithuanian law firm we prepared a full regulatory submission package to the Bank of Lithuania and coordinated the cross border service delivery model, enabling passporting of services once MiCA takes full effect.
See also:
We are advising a Lithuanian-licensed Electronic Money Institution, on the design and full regulatory implementation of its euro denominated Electronic Money Token (EURM) in compliance with EU Markets in Crypto Assets Regulation (MiCA).
We advised a polish comapny on obtaining Bank of Lithuania approval for the acquisition of 100% of the shares in a licensed Electronic Money Institution (EMI). Our work focused on the preparation of a comprehensive change of control application package, including ultimate beneficial ownership, financial standing, business plan impact, source of funds, and fit and proper assessments for management and key function holders. We also coordinated all regulator Q&A and ensured the submission met the highest supervisory standards.