Discover Latvia: a destination for crypto-asset service providers seeking licences under MiCA
As the Markets in Crypto-Assets regulation (MiCA) takes effect on 30 December, requiring crypto-asset companies to obtain a licence, Latvia is poised to become the go-to destination for crypto-asset service providers (CASPs) looking to expand their operations across Europe, with Latvijas Banka actively advising on and preparing for the submission of applications during the pre-licensing process.
Innovative technologies in the Latvian financial sector: tendencies in 2024
Each year, Latvijas Banka conducts a survey among financial market participants to oversee the innovations used in the financial sector. This year, 178 market participants took part in the survey, with 88 reporting the use of innovative technologies.
The new European regulatory environment: MiCA, DORA, PSD3, AI Act
The recent regulatory changes in the European Union (EU), alongside emerging technologies like blockchain and artificial intelligence, are set to transform the fintech landscape, creating new opportunities while also posing compliance challenges.
Latvijas Banka is set to ensure direct participation of payment and e-money institutions in central bank payment systems
The Eurosystem has adopted a harmonised policy that allows non-bank payment service providers direct access to payment systems maintained by euro area central banks, including the TARGET system.
Latvijas Banka issues an electronic money institution operating licence to SIA TigSiPay
On 29 May, the Supervision Committee of Latvijas Banka decided to issue an electronic money institution operating licence to the limited liability company TigSiPay.
Navigating the MiCA era: benefits and challenges
The European Union's Markets in Crypto-Assets regulation (MiCA) takes effect in 2024, establishing a new and unified regulatory framework for crypto-assets across all European Union Member States.
The team from Latvia wins the international hackathon “Open FinHack”
The international financial technology hackathon "Open FinHack" concluded with a victory for the Latvian team "Frankey". The competition was fierce – 231 participants from 38 countries around the world applied for the hackathon.
Broader Access to Investment in Crypto-Assets in the US
The year 2024 brought positive news from the world of crypto-assets. On 10 January, the US Securities and Exchange Commission approved 11 exchange-traded funds (ETFs) tied to Bitcoin (BTC), the most popular crypto-asset.
