Crypto-Asset Services Law
Also known as: Latvia Crypto-Asset Services Law (2024)
Overview
Key Details
Jurisdiction
LatviaRegulator
Latvijas Banka
Law Type
Act
Status
In ForceOfficial Law Number
OP 2024/120A.1; Likumi.lv ID 353012
Official Title
Crypto-Asset Services Law
Effective Date
June 30, 2024
Publication Date
June 13, 2024
Last Verified
August 26, 2026
Topics Covered
Who This Law Applies To
Key Requirements
The law creates Latvia's national legal framework around MiCAR. It applies to issuers, public offers, admissions to trading and crypto-asset services, designates Latvijas Banka as the competent authority and gives it reporting, rule-setting, supervisory and enforcement powers. It also provides local fee and sanctions arrangements and competence requirements for staff who provide crypto information or advice.
Key Provisions
Latvijas Banka designation; authorisation and notification procedures; supervisory reporting; fees; adviser knowledge and competence; information and investigation powers; administrative measures and sanctions; transition rules.
Licensing & Registration
A legal person providing covered crypto-asset services must hold MiCAR authorisation from Latvijas Banka or an effective EEA passport.
AML / CFT
Latvian AML/CFT and EU transfer-of-funds requirements apply to CASPs, including CDD, beneficial ownership, monitoring, suspicious-transaction reporting and travel-rule data.
Custody & Safeguarding
MiCAR segregation, safeguarding, custody-policy, governance, liability and continuity requirements apply under Latvijas Banka supervision.
Disclosure & Marketing
MiCAR white-paper and marketing rules apply to issuers and offerors; staff providing advice or information must meet competence standards.
Market Integrity & Enforcement
Latvijas Banka can obtain information, inspect, direct, restrict and sanction regulated persons under MiCAR and national law.
Tax Treatment
Not addressed by this law; Latvian tax treatment follows general personal and corporate tax legislation.
Official Sources
Related Laws
Decision No. E/35/2023 — VASP Registration and AML/CFT Instructions
Decision No. E/35/2023 on Virtual Asset Service Provider Registration, Cancellation of Registration and AML/CFT Instructions
Oman's FSA Decision No. E/35/2023 requires registration with the Oman Financial Services Authority (formerly Capital Market Authority) before carrying on covered virtual-asset activities in the Sultanate of Oman. It implements AML/CFT, governance and compliance requirements, and provides registration, cancellation and supervisory procedures. This is a VASP registration/AML regime and should be distinguished from any future full licensing framework.
BCB Resolutions No. 519, 520 and 521 of 2025 — Virtual Asset Regulatory Framework
Resoluções BCB nos. 519, 520 e 521, de 10 de novembro de 2025
Brazil's Central Bank (BCB) Resolutions No. 519, 520 and 521 of 10 November 2025 implement the virtual-asset regulatory framework under the supervision of the Central Bank. Resolution 519 establishes VASP authorisation procedures; Resolution 520 sets activity, governance, controls, security and conduct requirements; Resolution 521 integrates specified virtual-asset operations into Brazil's foreign-exchange and international-capital rules. Commencement is staged during 2026 — verify the effective date for each resolution separately.
Utility Token Offering Act, 2018 (Act No. 4/2018)
Utility Token Offering Act, 2018 (Act No. 4 of 2018)
Anguilla's Utility Token Offering Act 2018 (Act No. 4/2018) is one of the world's earliest purpose-built utility-token offering frameworks. It creates registration requirements for utility-token issuers, sets offering, disclosure and issuer-qualification conditions, and works with AML regulations and later amendments. Verify the most recent consolidation — a 2020 amendment may affect the effective/status fields.
Financial Market Digitalisation Act (Finanzmarktdigitalisierungsgesetz — FinmadiG)
Gesetz zur Digitalisierung des Finanzmarktes (Finanzmarktdigitalisierungsgesetz — FinmadiG)
Germany's Financial Market Digitalisation Act (FinmadiG) aligns German financial-market law with MiCA and DORA, establishes national supervisory powers and enforcement mechanisms for BaFin, and addresses the transition from existing German crypto-custody regulation. It applies to German financial entities, CASPs and other firms affected by MiCA/DORA national implementation.
UAE Cabinet Resolution No. 111 of 2022 Regulating Virtual Assets and Their Service Providers
Cabinet Resolution No. (111) of 2022 Regulating Virtual Assets and Their Service Providers
UAE Cabinet Resolution No. 111 of 2022 creates a federal regulatory perimeter for virtual assets and virtual-asset service providers across the UAE, subject to exclusions and coordination with local and free-zone authorities including VARA (Dubai), ADGM and DIFC. It allocates licensing and supervisory roles between federal (SCA) and local authorities and establishes authorisation and compliance foundations. It does not replace or supersede the VARA, ADGM or DIFC regimes.
Virtual Asset (Service Providers) Act, 2020 — 2024 Revision and Phase Two Licensing
Virtual Asset (Service Providers) Act (2024 Revision)
The Cayman Islands Virtual Asset (Service Providers) Act 2020, as revised in 2024, creates registration and supervisory requirements for virtual-asset service providers operating in or from the Cayman Islands. Phase Two, effective 1 April 2025, introduces full licensing requirements for custody and virtual-asset trading platforms. The canonical profile covers the Act with the linked 2024 amendment and 2025 commencement order.
