The Bank of Lithuania (LB) has issued the first license to a crypto asset company - it was received by Robinhood Europe.
The license gives Robinhood Europe the right to provide crypto asset custody and administration, orders and other services in Lithuania and throughout the European Union, the Bank of Latvia reported.
This company is in 2013 JAV Part of the Robinhood group of fintech financial brokerage firms, founded in 2011. In early April, the Bank of Latvia granted it a Category A financial brokerage firm license.
To date, 29 companies have applied to the Bank of Lithuania for a crypto asset activity license, of which 10 applications are being assessed.
At the beginning of May Seimas has extended the transitional period during which crypto-asset companies must obtain a license until the end of this year. If they do not obtain a license within this period, they will not be able to provide services.
There are currently 374 crypto companies registered in Lithuania.
