Latvia’s Crypto-Asset Services Law is the national statute that anchors the application of the EU Markets in Crypto-Assets Regulation (MiCA) in Latvia. The official Latvian title is Kriptoaktīvu pakalpojumu likums, translated by Likumi.lv as the Law on Crypto-asset Services. The law was adopted by the Saeima on June 13, 2024, published in Latvijas Vēstnesis on June 21, 2024, and entered into force on June 30, 2024.
As of July 22, 2026, the law is in force. Its role is not to replace MiCA, but to define Latvia’s competent authority, local filing and fee mechanics, supervisory powers, sanctions, and transitional rules for market participants that issue, offer, admit to trading, or provide services involving crypto-assets in Latvia.
Purpose and scope of the Latvian crypto-asset services framework
The law’s stated purpose is to promote development of the crypto-asset field and establish a legal framework for the operation of the crypto-asset market in Latvia. It applies to persons engaged in the issuance, public offer, or admission to trading of crypto-assets, as well as persons providing crypto-asset services in Latvia.
The law uses MiCA definitions by reference. That design makes the Latvian act a domestic implementation and supervisory statute for a directly applicable EU regulation rather than a standalone crypto code.
Latvijas Banka as the MiCA competent authority
The law designates Latvijas Banka as Latvia’s competent supervisory authority under MiCA. Latvijas Banka may determine reporting content and submission procedures, set requirements governing supervised subjects’ operations in line with European Banking Authority and European Securities and Markets Authority materials, and establish knowledge and competence criteria for persons who provide crypto-asset advice or information on behalf of a crypto-asset service provider.
For CryptoSlate readers, the key regulatory point is that Latvian crypto-asset supervision moved into the central bank’s financial-market perimeter. Latvijas Banka also publishes practical licensing materials for crypto-asset service providers and token issuers.
Authorisation, fees, and supervised activity
Under the law, an applicant planning to provide crypto-asset services, where it is not already a Latvijas Banka-supervised financial market participant, pays EUR 2,500 for review of a CASP authorisation application. An applicant planning to offer or admit to trading an asset-referenced token pays EUR 2,500, while a supervised financial market participant pays EUR 1,250 for each additional asset-referenced token application, subject to a EUR 5,000 annual cap.
A MiCA-authorised crypto-asset service provider under Article 63 must pay Latvijas Banka up to 0.6% per year of gross revenues related to crypto-asset services, with a minimum annual payment of EUR 3,000. Latvijas Banka’s public guidance states that MiCA authorisation requirements for crypto-asset services apply from December 30, 2024, and lists covered services such as custody, trading-platform operation, exchange, order execution, placing, advice, portfolio management, and transfer services.
Enforcement and market-abuse powers
The law gives Latvijas Banka authority to impose sanctions and administrative measures for failures to comply with referenced MiCA requirements. The covered areas include white papers and marketing communications, asset-referenced tokens, e-money tokens, CASP authorisation and conduct obligations, inside information, insider dealing, unlawful disclosure, market manipulation, market-abuse detection, and the provision of information to Latvijas Banka.
Sanctions may include warnings, monetary fines, temporary or long-term management bans for specified violations, and cancellation of authorisations to issue, offer, admit to trading, or provide crypto-asset services. Appeals of Latvijas Banka administrative acts go to the Regional Administrative Court, although appeals generally do not suspend non-fine administrative acts.
Transition from prior registration to MiCA licensing
The transitional provisions allowed certain crypto-asset service providers that began providing services before December 30, 2024 and were supervised by the State Revenue Service under Latvia’s AML law to continue without Latvijas Banka authorisation until June 30, 2025. If such a provider filed by that date, it could continue while Latvijas Banka reviewed the application and reached a decision.
Latvijas Banka began accepting EU MiCA licence applications on January 2, 2025. A Latvian MiCA licence can support cross-border EU service provision through MiCA passporting, but this profile is a legal-reference summary and does not provide legal, tax, investment, or compliance advice.