Mainstream cryptocurrencies such as ETH, BTC, BNB, and others are facing policy shocks. The Bank of Lithuania issued a mandatory regulatory order: all crypto service providers must obtain a CASP license under the MiCA framework by December 31, or they will be considered illegal starting January 1, 2025.

The penalties are beyond imagination—fines and website bans are considered mild; in serious cases, criminal penalties will be directly applied, with a maximum prison term of 4 years. This is not a threat, but a real legal consequence.

The current situation is even more concerning. Out of 370 registered institutions, only 30 have submitted license applications. Of the originally active 120 platforms, the vast majority may face delisting. Currently, only leading institutions like Robinhood have successfully obtained approval; the prospects for other small and medium-sized exchanges are bleak.

This crackdown is not a temporary measure but a landmark move in the EU’s push to regulate crypto assets. Licensed institutions will gain legal access across the 27 EU countries, while unlicensed ones will be thoroughly expelled. Users holding related assets or trading on these platforms must closely monitor the license application progress to avoid fund freezes. The regulatory window has closed, and there is little time left for the game.