RE: Coingate17 Dec 2025 09:37
Arminas Banys 2nd
No-Nonsense Fin Services Compliance Advisor (15+ yrs) | Board Member | Partner at Adamano
2h
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CASP licence No. 2 in Lithuania - local champion CoinGate.
Just before the MiCA deadline in Lithuania, CoinGate obtained its authorisation to continue operating from its home country.
Professionally, being involved in the authorisation of the company - in a market where more than 500 CASPs were registered and only 3 (congrats to Nuvei Liquidity as well!) of them got licences - does make me a bit proud.
#adamano | #coingate
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Chris Copeland
独立能源顾问(退休) | 陕西 & 山东电力市场深度专家 | 前中国能源行业 | 非执行董事与导师 Independent Energy Advisor (Retired) | Deep Expertise in Shaanxi and Shandong Power Markets | Ex-China Energy Sector | Non-Executive Director & Mentor
20m
Congratulations! Numero 2 behind RobinHood is quite the accolade ! when was the application submitted? Best wishes.
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Vyacheslavs Tarasovs, CAMS
Director of AML&FS Division, ERGO Baltics | Business at heart & Compliance in mind
2h
Congrats to CoinGate!
But only 3 out >500... That`s worth a separate research, tbh
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Arminas Banys
No-Nonsense Fin Services Compliance Advisor (15+ yrs) | Board Member | Partner at Adamano
26m
Vyacheslavs Tarasovs, CAMS Thanks.
The 500+ figure is a bit misleading if taken at face value. A material part of the entities on the register were either not carrying out any real activity or had no substantive nexus with Lithuania at all (no staff, no decision-making, no actual operations here). If you strip those out, the realistic pool of candidates is probably closer to a few dozen - say in the 50-60 range.
From there, MiCA introduces a completely different cost base compared to the previous regime. For a number of business models, once you price in full authorisation and ongoing compliance, not pursuing authorisation is simply an economically rational outcome.
Even with that in mind, the fact that only three entities went all the way through still says quite a lot about how steep the MiCA filter is in practice.
Misleading, just like you Chaebol