Pin and benchmark
Pin one jurisdiction. Line up to five rivals against it. Deltas show where each peer is better or worse.
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| Dimension |
Pinned 🇪🇪 Estonia partly open Verified 2026-08-15
|
🇱🇹 Lithuania
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | MiCA CASP authorisation; implemented via the Crypto-Assets Market Act (Kruptovarade turu seadus, KrüTS), in force 1 July 2024. | 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 | Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) | 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 | Estonia capital requirement is included in the £349 pass. | Lithuania capital requirement is included in the £349 pass. |
| Timeline to authorisation | Estonia timeline to authorisation is included in the £349 pass. | Lithuania timeline to authorisation is included in the £349 pass. |
| Local substance | Estonia local substance is included in the £349 pass. | Lithuania local substance is included in the £349 pass. |
| Application cost | Estonia application cost is included in the £349 pass. | Lithuania application cost is included in the £349 pass. |
| Ongoing cost | Estonia ongoing cost is included in the £349 pass. | Lithuania ongoing cost is included in the £349 pass. |
| Passporting | Estonia passporting is included in the £349 pass. | Lithuania passporting is included in the £349 pass. |
| MiCA CASPs approved | Estonia mica casps approved is included in the £349 pass. | Lithuania mica casps approved is included in the £349 pass. |
| Key restrictions | Estonia key restrictions is included in the £349 pass. | Lithuania key restrictions is included in the £349 pass. |
| Recent changes | Estonia's VASP population collapsed from 641 valid licences (mid-2021 peak) to 36 remaining by early 2026; as of recent reporting only one entity (Lightspark Payments Europe AS) had received full MiCA CASP authorisation. From 18 March 2026, CASP applications must go through FI's new application portal. | 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 | Estonia difficulty rating is included in the £349 pass. | Lithuania difficulty rating is included in the £349 pass. |
Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.
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