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Latvijas Banka will begin accepting applications and issuing operating permits starting January 2025, when the MiCA license will go into effect.Latvijas Banka has developed both licensing and pre-licensing processes to provide support for innovators in the financial sector.

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Latvijas Banka emphasizes accessibility and responsiveness, ensuring prompt, human-centered communication with an average response time of 48 hours.The pre-licensing process is aimed at reducing a service’s time-to-market, thus reducing service down-time after the regulation is enacted.

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Latvijas Banka has created a framework that balances flexibility with responsibility.

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