Friday, September 20, 2024 – The central bank of Latvia announced on September 9 that it would offer the pre-licensing consultations for the Latvian crypto asset service providers (CASPs) who expect to obtain the Markets in Crypto Assets (MiCA) license.
The central bank will offer free pre-licensing consultations directing each company to comply with required documents.
The companies are eligible for unlimited consultations, the announcement read.
The central bank of Latvia will begin accepting applications and issuing licenses for CASPs in 2025.
The strategic step taken by Latvia to offer pre-licensing consultation would align the companies with MiCA securing them a safer spot within the European Union.
The implementation of MiCA, the coming regulatory framework initiated by the European Union, is expected to pave the way for investors to operate in the digital finance sector safely without confusion, reports say.
