🇨🇾 Cyprus vs 🇱🇹 Lithuania: crypto licensing compared
Cyprus and Lithuania take recognisably different routes to crypto authorisation. In Cyprus the route is the MiCA CASP Authorisation granted by CySEC; existing Cyprus Investment Firms (CIFs) can extend their licence to cover crypto-asset services under a simplified process overseen by Cyprus Securities and Exchange Commission (CySEC) - sole National Competent Authority for MiCA in Cyprus; in Lithuania it is the MiCA Crypto-Asset Service Provider (CASP) authorisation under Title V of Reg (EU) 2023/1114; replaced the national VASP registration. Single passportable licence covering the services applied for. under Bank of Lithuania (Lietuvos bankas) - single competent authority. Publicly selective stance: wants few, solid firms rather than the ~370-strong legacy VASP pool.. The two regimes differ on 6 of 9 tracked decision dimensions, including local substance and application cost. The free columns below are open to everyone; the decision figures unlock with a pass, each one dated and sourced.
Cyprus: verified 2026-07-03 · Lithuania: verified 2026-07-01
| Dimension |
🇨🇾 Cyprus
partly open
Verified 2026-07-03
|
🇱🇹 Lithuania
partly open
Verified 2026-07-01
|
|---|---|---|
| Licence type | MiCA CASP Authorisation granted by CySEC; existing Cyprus Investment Firms (CIFs) can extend their licence to cover crypto-asset services under a simplified process | MiCA Crypto-Asset Service Provider (CASP) authorisation under Title V of Reg (EU) 2023/1114; replaced the national VASP registration. Single passportable licence covering the services applied for. |
| Regulator | Cyprus Securities and Exchange Commission (CySEC) - sole National Competent Authority for MiCA in Cyprus | Bank of Lithuania (Lietuvos bankas) - single competent authority. Publicly selective stance: wants few, solid firms rather than the ~370-strong legacy VASP pool. |
| Capital requirement | Cyprus capital requirement is locked. Unlock with the £349 pass. | Lithuania capital requirement is locked. Unlock with the £349 pass. |
| Timeline to authorisation | Cyprus timeline to authorisation is locked. Unlock with the £349 pass. | Lithuania timeline to authorisation is locked. Unlock with the £349 pass. |
| Local substance | Cyprus local substance is locked. Unlock with the £349 pass. | Lithuania local substance is locked. Unlock with the £349 pass. |
| Application cost | Cyprus application cost is locked. Unlock with the £349 pass. | Lithuania application cost is locked. Unlock with the £349 pass. |
| Ongoing cost | Cyprus ongoing cost is locked. Unlock with the £349 pass. | Lithuania ongoing cost is locked. Unlock with the £349 pass. |
| Passporting | Cyprus passporting is locked. Unlock with the £349 pass. | Lithuania passporting is locked. Unlock with the £349 pass. |
| MiCA CASPs approved | Cyprus mica casps approved is locked. Unlock with the £349 pass. | Lithuania mica casps approved is locked. Unlock with the £349 pass. |
| Key restrictions | Cyprus key restrictions is locked. Unlock with the £349 pass. | Lithuania key restrictions is locked. Unlock with the £349 pass. |
| Recent changes | CySEC set a hard 27 February 2026 deadline for existing national-regime CASPs to submit MiCA applications; preliminary assessment phase opened 13 Nov 2024, formal applications from 1 Jan 2025; national transitional regime and full MiCA regime now running in parallel toward the 1 July 2026 EU-wide cutover | Lithuania used a shortened 12-month grandfathering - legacy VASP cover ended 1 Jan 2026 (vs the EU 1 Jul 2026 backstop). First CASP: Robinhood Europe (29 May 2025); only ~4 CASPs authorised by Mar 2026. |
| Difficulty rating | Cyprus difficulty rating is locked. Unlock with the £349 pass. | Lithuania difficulty rating is locked. Unlock with the £349 pass. |
The two regimes differ on 6 of 9 tracked decision dimensions, including local substance and application cost. Unlock the pass to see each figure with its source and verification date.
What changed recently
🇨🇾 Cyprus (verified 2026-07-02): CySEC set a hard 27 February 2026 deadline for existing national-regime CASPs to submit MiCA applications; preliminary assessment phase opened 13 Nov 2024, formal applications from 1 Jan 2025; national transitional regime and full MiCA regime now running in parallel toward the 1 July 2026 EU-wide cutover
🇱🇹 Lithuania (verified 2026-07-01): Lithuania used a shortened 12-month grandfathering - legacy VASP cover ended 1 Jan 2026 (vs the EU 1 Jul 2026 backstop). First CASP: Robinhood Europe (29 May 2025); only ~4 CASPs authorised by Mar 2026.
Quick answers
Who regulates crypto licensing in Cyprus and Lithuania?
Cyprus: Cyprus Securities and Exchange Commission (CySEC) - sole National Competent Authority for MiCA in Cyprus. Lithuania: Bank of Lithuania (Lietuvos bankas) - single competent authority. Publicly selective stance: wants few, solid firms rather than the ~370-strong legacy VASP pool..
What licence do you need in Cyprus compared with Lithuania?
In Cyprus the authorisation route is MiCA CASP Authorisation granted by CySEC; existing Cyprus Investment Firms (CIFs) can extend their licence to cover crypto-asset services under a simplified process; in Lithuania it is MiCA Crypto-Asset Service Provider (CASP) authorisation under Title V of Reg (EU) 2023/1114; replaced the national VASP registration. Single passportable licence covering the services applied for.. The comparison table on this page lines the two up dimension by dimension.
Where can I see the full Cyprus vs Lithuania comparison?
The interactive benchmark lets you pin either jurisdiction and add up to five peers; a Founder Pass or Pro subscription unlocks every gated figure with its source and verification date. This page stays free at /crypto/compare/cyprus-vs-lithuania.
Informational only, not legal advice. Every open figure carries its own verification date; verify with qualified counsel before acting.