By Edgaras Savickas, LRT.lt.

Lithuania has sharply narrowed its crypto sector after the European Union’s Markets in Crypto-Assets Regulation, or MiCA, took effect, signalling a clear policy choice not to become a “crypto haven” even at the risk of losing major taxpayers.

After the New Year, only three companies held MiCA-compliant licenses in Lithuania, according to the central bank. They are Robinhood Europe, Nuvei Liquidity and Decentralized, which operates under the Coingate brand. Notably absent is Bifinity, a Lithuania-registered company linked to global crypto giant Binance.

If Bifinity were to cease operations in Lithuania, the country would lose one of its largest corporate taxpayers. Data from the State Tax Inspectorate show the company has paid nearly 111 million euros in taxes since 2022, including 27.6 million euros in 2024 alone.

The Bank of Lithuania said neither Bifinity nor Binance currently holds a MiCA license issued under the regulation’s procedures and therefore does not have the right to provide crypto-asset services in Lithuania. The central bank said it has received more than 100 applications from nearly 60 companies and is currently reviewing six more.

Binance representatives told LRT.lt that the company is actively seeking a MiCA license and continues to cooperate with regulators across the region.

Read more: LRT.LT