🇱🇹 Lithuania vs 🇲🇹 Malta: crypto licensing compared
Choosing between Lithuania and Malta for a crypto licence starts with who you will answer to: Bank of Lithuania (Lietuvos bankas) - single competent authority. Publicly selective stance: wants few, solid firms rather than the ~370-strong legacy VASP pool. on one side, Malta Financial Services Authority (MFSA) - single competent authority; a long-standing crypto supervisor since the 2018 VFA regime. on the other, via 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. and the MiCA CASP authorisation under the Markets in Crypto-Assets Act (Cap. 647); replaces the legacy VFA licence (VFA Act 2018) via a fast-track conversion. Malta granted one of the EU's first full CASP licences (Jan 2025). respectively. The two regimes differ on 7 of 9 tracked decision dimensions, including timeline to authorisation and local substance. Every figure behind the comparison carries a last-verified date and a primary source.
Lithuania: verified 2026-07-01 · Malta: verified 2026-07-03
| Dimension |
🇱🇹 Lithuania
partly open
Verified 2026-07-01
|
🇲🇹 Malta
partly open
Verified 2026-07-03
|
|---|---|---|
| Licence type | 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. | MiCA CASP authorisation under the Markets in Crypto-Assets Act (Cap. 647); replaces the legacy VFA licence (VFA Act 2018) via a fast-track conversion. Malta granted one of the EU's first full CASP licences (Jan 2025). |
| Regulator | Bank of Lithuania (Lietuvos bankas) - single competent authority. Publicly selective stance: wants few, solid firms rather than the ~370-strong legacy VASP pool. | Malta Financial Services Authority (MFSA) - single competent authority; a long-standing crypto supervisor since the 2018 VFA regime. |
| Capital requirement | Lithuania capital requirement is locked. Unlock with the £349 pass. | Malta capital requirement is locked. Unlock with the £349 pass. |
| Timeline to authorisation | Lithuania timeline to authorisation is locked. Unlock with the £349 pass. | Malta timeline to authorisation is locked. Unlock with the £349 pass. |
| Local substance | Lithuania local substance is locked. Unlock with the £349 pass. | Malta local substance is locked. Unlock with the £349 pass. |
| Application cost | Lithuania application cost is locked. Unlock with the £349 pass. | Malta application cost is locked. Unlock with the £349 pass. |
| Ongoing cost | Lithuania ongoing cost is locked. Unlock with the £349 pass. | Malta ongoing cost is locked. Unlock with the £349 pass. |
| Passporting | Lithuania passporting is locked. Unlock with the £349 pass. | Malta passporting is locked. Unlock with the £349 pass. |
| MiCA CASPs approved | Lithuania mica casps approved is locked. Unlock with the £349 pass. | Malta mica casps approved is locked. Unlock with the £349 pass. |
| Key restrictions | Lithuania key restrictions is locked. Unlock with the £349 pass. | Malta key restrictions is locked. Unlock with the £349 pass. |
| Recent changes | 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. | First-mover: Crypto.com licensed 27 Jan 2025; ~13 CASPs now authorised (OKX, Gemini, Gate, Blockchain.com). ESMA's 10 Jul 2025 peer review criticised the MFSA's authorisation of one CASP, tightening scrutiny. Transition ends 1 Jul 2026. |
| Difficulty rating | Lithuania difficulty rating is locked. Unlock with the £349 pass. | Malta difficulty rating is locked. Unlock with the £349 pass. |
The two regimes differ on 7 of 9 tracked decision dimensions, including timeline to authorisation and local substance. Unlock the pass to see each figure with its source and verification date.
What changed recently
🇱🇹 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.
🇲🇹 Malta (verified 2026-07-01): First-mover: Crypto.com licensed 27 Jan 2025; ~13 CASPs now authorised (OKX, Gemini, Gate, Blockchain.com). ESMA's 10 Jul 2025 peer review criticised the MFSA's authorisation of one CASP, tightening scrutiny. Transition ends 1 Jul 2026.
Quick answers
Who regulates crypto licensing in Lithuania and Malta?
Lithuania: Bank of Lithuania (Lietuvos bankas) - single competent authority. Publicly selective stance: wants few, solid firms rather than the ~370-strong legacy VASP pool.. Malta: Malta Financial Services Authority (MFSA) - single competent authority; a long-standing crypto supervisor since the 2018 VFA regime..
What licence do you need in Lithuania compared with Malta?
In Lithuania the authorisation route 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.; in Malta it is MiCA CASP authorisation under the Markets in Crypto-Assets Act (Cap. 647); replaces the legacy VFA licence (VFA Act 2018) via a fast-track conversion. Malta granted one of the EU's first full CASP licences (Jan 2025).. The comparison table on this page lines the two up dimension by dimension.
Where can I see the full Lithuania vs Malta 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/lithuania-vs-malta.
Informational only, not legal advice. Every open figure carries its own verification date; verify with qualified counsel before acting.