The Bank of Lithuania has announced a transition period for crypto asset service providers, requiring them to obtain a CASP license by December 31, 2025. After this deadline, unlicensed providers must cease operations, including halting new client acceptance and returning client assets. As of mid-2025, 30 companies have applied for licenses, with 10 applications under review. Despite over 370 companies expressing interest in offering crypto services, only 120 are actively operating and reporting financials.