🇨🇾 Cyprus vs 🇱🇹 Lithuania: crypto licensing compared
Decision context and regulator route
Cyprus and Lithuania are commonly considered side by side for 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 public licence and regulator fields below are open to everyone; the complete sourced comparison is included with access.
Cyprus: verified 2026-07-02 · Lithuania: verified 2026-08-15
| Dimension |
🇨🇾 Cyprus
partly open
Verified 2026-07-02
|
🇱🇹 Lithuania
partly open
Verified 2026-08-15
|
|---|---|---|
| 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 included in the £349 pass. | Lithuania capital requirement is included in the £349 pass. |
| Timeline to authorisation | Cyprus timeline to authorisation is included in the £349 pass. | Lithuania timeline to authorisation is included in the £349 pass. |
| Local substance | Cyprus local substance is included in the £349 pass. | Lithuania local substance is included in the £349 pass. |
| Application cost | Cyprus application cost is included in the £349 pass. | Lithuania application cost is included in the £349 pass. |
| Ongoing cost | Cyprus ongoing cost is included in the £349 pass. | Lithuania ongoing cost is included in the £349 pass. |
| Passporting | Cyprus passporting is included in the £349 pass. | Lithuania passporting is included in the £349 pass. |
| MiCA CASPs approved | Cyprus mica casps approved is included in the £349 pass. | Lithuania mica casps approved is included in the £349 pass. |
| Key restrictions | Cyprus key restrictions is included in the £349 pass. | Lithuania key restrictions is included in 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 included in the £349 pass. | Lithuania difficulty rating is included in the £349 pass. |
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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 2026-08-15): 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.