
For some time now, there has been talk that the cryptocurrency giant Binance may leave Lithuania and move to Latvia, but no official confirmation of this, the program TV3 Ziņas reported.”Such rumors are going around, but I cannot confirm, or refute them,” says the executive director of the Latvian Latvian association of blockchain development Reinis Znotins, noting only that representatives of Binance have visited Latvia and conversed with different government institutions. The representative of Binance in Latvia and Estonia Polina Brothier did not still clarify in talking
with Delfi Bizness, whether the rumors are true, but emphasized, that the company is actively preparing for the adoption of MiCA (Markets in Crypto-Assets) the European Union, which will provide a harmonized structure for cryptocurrencies in the EU. The Company believes this will help accelerate widespread adoption and protect users at the same time.Representatives of the Bank of Latvia also did not make specific comments, emphasizing that the Bank of Latvia, as the supervisory agency over the financial sector, is not authorized to comment on the licensing and supervision of individual market participants. “On December 30 December of
last year the MiCA regulation went into effect that implemented a unified legal base for the cryptoasset industry in the European Union, including a requirement, that service providers of such services receive an operational license,” says the head of the Department of supervision of financial technology of the Bank of Latvia Marine Krasovska.The Bank of Latvia receives applications for authorization to operate from suppliers of cryptoasset services from January 2 2025 year, and the companies have already utilizedprovided by the Bank of Latvia the opportunity to receive free consultations on MiCA regulation at the pre-licensing stage,
which helps to prepare a quality application for the license. In 2024 year the experts of Bank Latvia provided about 35 consultations to European companies, planning to provide cryptoasset services in Europe in the framework
ofthenewMiCAregulationandconsideringLatviaasacountryofresidencefortheirbusinesses.