The Latvian Central Bank opens pre-consultation before granting licenses to cryptocurrency companies

The Central Bank of Latvia is taking proactive measures, in line with the upcoming cryptocurrency regulations of the European Union, to provide free pre-licensing consultation for crypto asset service providers. Starting from January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. At the same time, it stated that it is assisting businesses in preparing through free pre-license consultations. Reinis Znotins, Executive Director of Latvian Blockchain Association said that they are "committed" to supporting local CASPs complete their licensing process.