Member Info for Chaebol

All the rampers told us MiCA was a done deal, now they scrambling to Poland with no grandfathering rights in any other jurisdiction in the EU. What a victory, the words Tone Goh used is quite the tale. No TOne you bought in this jurisdiction because another app failed and Lithuania has gone. If MiCA was in you wouldnt be buying this.

The Neobankers are 0/2 licenses now, what a mob. Soon they will have to explain the pivot, maybe?

EMI the toughest app they have applied for but Im sure we will be told its another done deal.

World cup winners are out tonight hahahaha Lithuania will not recognise VASPS inside or outside its country from the 2nd January so I j have no idea why people are saying the polish VASP backs up its MiCA APP. Think they were told on the 17th Dec Mica wasn't gonna fly then plan b.....

Polish Vasp allows bake to transact anywhere outside EU US...so it allows Bake to continue some sort of services but for EU punters its still in limbo.

Poland is currently the only EU member state that has not yet enacted its national legislation to fully implement and enforce the MiCA regulatory framework.

You cannot currently apply for a MiCA Crypto-Asset Service Provider (CASP) license in Poland because the national implementing legislation hasn't been finalised and passed by Parliament.

Lol funny i predicted no MiCA 2026 months ago. I am doing sound. This is another big failure from the Neobankers of GST BOD, Im sure someone poste the other day that Frhat said they wont be applying in another jurisdiction lol. Anyway clocks ticking.

This is the VASP in its relaity * Grandfathered Polish VASPs like Finferno cannot lawfully provide crypto-asset services (e.g., transactions) in other EU member states during the MiCA transitional (grandfathering) period. They are generally restricted to operating only in Poland.

Key Reasons (as of 29 December 2025)

* No EU Passporting for Grandfathered Entities — ESMA explicitly states that entities operating under national transitional regimes (grandfathered VASPs) do not benefit from MiCA's EU-wide passporting rights. Passporting is only available to fully authorized Crypto-Asset Service Providers (CASPs) under MiCA.

* Cross-Border Limited to National Laws — Cross-border services are possible only if explicitly permitted under the pre-MiCA national laws of both the home state (Poland) and the host state. Poland's pre-MiCA VASP regime (AML-focused registration) did not provide cross-border rights, and most host states do not allow foreign grandfathered providers without full MiCA authorization.

* Fragmented Transitional Periods — Many EU states have shorter grandfathering periods (e.g., ending in 2025), and ESMA prohibits grandfathered entities from serving clients in states where transitional rules no longer apply or are restricted.

* Poland-Specific Context — Due to legislative delays (including the December 2025 presidential veto of the implementing Act), Poland applies the default 18-month grandfathering period until 1 July 2026. This allows continued operations nationally in Poland for pre-30 December 2024 VASPs like Finferno, but does not extend cross-border privileges.

ractical Implications for Finferno/GS Fintech

* Services can continue in Poland under grandfathering until July 2026 (or earlier if a CASP application is processed).

* To transact or serve clients anywhere else in the EU, a full MiCA CASP license is required (applicable in any member state with an operational framework, enabling EU-wide passporting).

* Targeting clients outside Poland without a CASP license risks enforcement actions (fines, blocks, or bans) in host states.

* 


At least bake lights stay on x;) but cannot serve its DACH clients with the Poland VASP

Travelling today I Dont know what the celebrations are tbh........with all this optimism and shoo ins that we were told from the BOD and bake etc the license for the MiCA app is now a confirmed complete failure in LT, and now have 6 months in Poland to find another way with more hype more expense to obtain MiCA. Lets see if they make any public RNS about the Mica app 2nd Jan, lol confirmed sheet show

That the real news today. Sure ill be sweet by the 5th Jan

Instrument: GST.L (GSTechnologies Ltd - LSE)

Trade - Open Short Position

Date: 3 January 2025

Action: Sell Short (Borrow & Sell)

Quantity: 500,000 shares

Entry Price: 3.30 pence

Value: £xxxxxxx credit (proceeds from sale)

Trade 2 - Open Short Position

Date: 24 December 2025

Action: Sell Short (Borrow & Sell)

Quantity: 500,000 shares

Entry Price: 0.435 pence

Value: xxxxxx (proceeds from sale)

Still reckon we going to .20 FWIW

Https://fntt.lrv.lt/lt/naujienos/baigiasi-pereinamasis-laikotarpis-vasp-nuo-2026-m-sausio-1-d-privaloma-kriptoturto-paslaugu-teikejo-licencija-uww/

UAB Blue EMI LT and Ambr Payments, UAB have issued MiCA-compliant white papers for their Electronic Money Tokens (EMTs).UAB Blue EMI LT (issuer of BLUEUR, a euro-pegged EMT):

They published a white paper dated April 17, 2025 (last updated around then). It is publicly available on their website: https://blueemi.com/emt-white-paper-april-2025/ (with a direct PDF link referenced in regulatory contexts). This document details MiCAR compliance, fund safeguarding, 1:1 euro backing, and token mechanics.

Ambr Payments, UAB (issuer of EMTs for digital payments):

They also issued a MiCA white paper, notified and reviewed by the Bank of Lithuania. It is registered in the ESMA EMT issuers list (with a submission/review date around March–May 2025). Their site describes "Simplify digital payments with Ambr’s Electronic Money Tokens (EMTs)," confirming active EMT issuance under the required white paper framework.

Under MiCA (applicable for EMTs since June 30, 2024), authorized EMIs like these must prepare, notify the competent authority (Bank of Lithuania), and publish a crypto-asset white paper before offering EMTs publicly or admitting them to trading. Both comply with this.

37 web pages

Sorry this part

Since inquiries about clients of former VASP entities are expected to continue for some time after the end of the transition period, the FIU recommends that Companies appoint responsible persons by the end of the transition period who will cooperate with the FIU for another 3 months after 1 January 2026. The appointment of contact persons is necessary to ensure the prompt exchange of financial information. This is particularly important in the context of international cooperation, when foreign financial intelligence units (hereinafter referred to as FIUs) contact the FIU of Lithuania (FIU) for information about clients of former VASP entities.

The FNTT notes that VASP entities that will no longer provide crypto-related services in Lithuania after 1 January 2026 will continue to be required to store the information specified in Article 19 of the Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing:

logbook data – 8 years from the date of termination of transactions or business relations with the client;

copies of documents confirming the client's identity, beneficiary's identity data, live video transmission (live video broadcast) recording, other data obtained when establishing the client's identity, invoice and (or) contract documents - 8 years from the date of termination of transactions or business relations with the client;

correspondence related to business relations with the client – ​​5 years from the date of termination of transactions or business relations with the client;

documents and data confirming a monetary operation or transaction or other documents and data having legal force related to the performance of monetary operations or the conclusion of transactions – 8 years from the date of performance of the monetary operation or the conclusion of the transaction;

letters formalizing the results of the investigation specified in Article 17 of this Law – 5 years ;

information that allows the address of a virtual currency or crypto-asset to be linked to the identity of the owner of the virtual currency or crypto-asset – 8 years from the date of termination of transactions or business relations with the client.

The Law on Documents and Archives of the Republic of Lithuania establishes that the head is responsible for preserving the activity documents of a private legal entity for the required period. The activity documents of a private legal entity being liquidated, the storage period of which has not expired, established in legal regulations, must be transferred to the municipality in whose territory the private legal entity had its registered office, before its deregistration from the Register of Legal Entities.

https://fntt.lrv.lt/lt/naujienos/baigiasi-pereinamasis-laikotarpis-vasp-nuo-2026-m-sausio-1-d-privaloma-kriptoturto-paslaugu-teikejo-licencija-uww/

Lol Enki.........Most has already paid tbf the next leg to .3 is what they call gravy.

I dont see how they have to say anything until the license expires, they have methods to segregate funds and when the license expire without mica then they announce, says in Bol rules VASPS with app or without APP have to maintain lots of info after the 2nd Jan, cannot just run away, so maybe thats why Ferhat is saying with confidence see you next year.......because even if they are rejected they have to maintain the book for another 3 months with the BOL in LT.

A. They were told on the 17th to re-apply in a different way or different jurisdiction. Not being an official rejection form the BOL they dont have to rns it, and we know how frugal they are wiht RNS's....scrambling around now for plan b

B. It's still in play.

Unless the BOD are really pulling the wool over investors eyes I have to believe its B we are in, until RNS'd.

In March 2025 The Company has also appointed Response Legal to assist in securing a Markets in Crypto-Assets (MiCA) licence.  The Company is confident in achieving a positive result, expected in the second half of 2025, further strengthening its position in the European digital asset market.

Many took this as a shoo in for September approval hence the MiCA any day now warriors hitting the news stands.

Response Legal is a Lithuanian law firm that acts as the legal advisor to GS Fintech UAB, a subsidiary of London-listed GSTechnologies Limited. 

The Relationship

* Legal Counsel: Response Legal assists GS Fintech UAB with a range of fintech regulatory matters in Lithuania, including:

* Navigating the regulatory landscape for financial services.

* Ensuring compliance with Anti-Money Laundering (AML) systems.

* Handling the presentation of business models to the Bank of Lithuania and the Ministry of Finance.

* MiCA License Application: As of March 2025, GS Fintech UAB appointed Response Legal to assist in securing a Markets in Crypto-Assets (MiCA) licence, which is a key regulatory requirement for operating in the European digital asset market. The company is confident of a positive result in the second half of 2025. 

What interests me here is what happened in those 6 months. From March to September (not November AHS x;) and they then submitted around mid to late September, how many back and forth in the 6 months? and were they gteed specifics if they fulfilled the parts that BOL wanted completing.

Clues,

Semnet and Jack Bai wife is part owner, Semnet were cut off all revenue streams connected to the group. Eliminating conflicts

Liminal

Nuvei

I also think GS Fintech could say to the BOL we cannot commit to office space or employees unless we have the license so maybe there is a agreement that if license is awarded staff and offices are invested in. Just a guess!

Correction on RobinHood, did have VASP obtained its VASP (Virtual Asset Service Provider) registration in Lithuania in 2023. Apologies x;)

Brokerage license — effective April 2025

CASP license — effective May 29, 2025

I was thinking like a lot of you a few weeks ago that common sense would prevail and cos that had applied prior to the deadline would be in some form of grey area but allowed to continue, it got shot down. During my research I found this EU exemption, but again it has no hold on LT soil and no exemptions for companies that have already applied etc.

Exact Text of Article 143(3):

"By way of derogation from Articles 59 and 63, Member States may allow any entity that, on 30 December 2024, is authorised or registered in accordance with applicable law to provide crypto-asset services in that Member State, to continue to provide those crypto-asset services until 1 July 2026 or until the entity is granted or refused authorisation in accordance with Article 63, whichever is sooner."

I see that Companies can apply for MICA CASP now up to the end of December, when I initially thought was June or July 2025 deadline, and of course we have a lot applicants in the mix already. So would those companies that have already applied from this year and up to December end 2025 have to cease business operations from Jan 1st 2026 or would they be granted the EU exemption of Article 143 (3) up until its approval or rejection?



Lukas Jablonskas sent the following message at 8:47 AM




Hi, all companies that do not receive MiCA license until December 31st, 2025 must cease all operations.



Https://fntt.lrv.lt/lt/naujienos/baigiasi-pereinamasis-laikotarpis-vasp-nuo-2026-m-sausio-1-d-privaloma-kriptoturto-paslaugu-teikejo-licencija-uww/

The Financial Crimes Investigation Service (FNTT) reminds that on December 31 of this year, the transitional period established by the Law on Crypto-Asset Markets of the Republic of Lithuania ends, during which virtual currency exchange operators and depository virtual currency wallet operators (hereinafter referred to as VASPs), intending to continue providing crypto-asset-related services, must obtain a crypto-asset service provider license. Companies that have not received a license by December 31, 2025 (hereinafter referred to as the Companies) will no longer be able to provide crypto-asset-related services in Lithuania from January 1, 2026. Such VASP entities will need to make a decision on changing their activities, reorganizing or liquidating the Company.

On January 2, 2026, the State Enterprise Centre of Registers will deregister data registered in the Register of Legal Entities about the activities of legal entities as virtual currency exchange operators and/or depository virtual currency wallet operators. Also, from January 2, 2026, neither the List of Legal Entities Carrying Out the Activities of Virtual Currency Exchange Operators nor the List of Legal Entities Carrying Out the Activities of Depository Virtual Currency Wallet Operators, nor any other links to these lists will be published on the website of the State Enterprise Centre of Registers.

The FNTT notes that VASP entities that will no longer provide crypto-related services in Lithuania after 1 January 2026 will continue to be required to store the information specified in Article 19 of the Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing:

This confirms no VASPS will be in operation from the 1st January

If GST has no MiCA by close of play 31st December they need to start segregating funds via Liminal a previous partner they've mentioned or Nuvei and will not be able to offer crypto services until they approved. It really is that simple.

https://thebanks.eu/list-of-vasps/Lithuania.

When I did MiCA homework from Enkster now chaeboliar, I went through every VASP in this list COINGATE is the only VASP that has been given MiCA, Nuvei and robinhood never had VASP licenses.

I found 12 superior VASPS to GSFintech UAB and most of those have pivoted to a plan b and have applied in an easier jurisdiction.

Buy when's there is blood on the streets.

Even when its yours, as they say.

Angra growth ? Can you explain

Angra Ltd / Angra Global Performance.

(April–September 2025 interims):Transaction volume: US$59.21M (down ~12% from US$67.20M in the prior comparable period).

Angra revenue: ~US$448k (with US$146k from exchange fees).

Effective margin: ~0.76% overall; cleaner ~0.6% post-fees – tight indeed, as FX payments is a brutally competitive, low-margin game (hard to push much higher without massive scale or premium add-ons).

The volume/revenue dip is clear and real – softer client activity hit this half hard. Management's push for "higher-margin services" (e.g., e-wallets, IBANs, B2B neobanking) sounds good on paper, but execution in this space is tough and slow.

That said, Angra remains the standout asset here, with infrastructure (UK API + Canadian MSB licences & EMI APP) primed for growth if volumes go to hundreds of millions annually – the level needed for solid profitability.

Aud I think its fair to call it a revenue fall, not growth. Momentum will depend on client uptake and EMI License being awarded late Q1 early Q2.

.61p 17th December

BOL held online meeting with CASPS time in LT meeting was 2 Pm to 330pm so UK time was midday to 130pm

Big sells since

Consultative event: Lessons from licensing and supervisory expectations for crypto-asset service providers: towards responsible financial services provision.

Plačiau: https://www.lb.lt/lt/renginiai/konsultacinis-renginys-kriptoturto-paslaugu-teikeju-licencijavimo-pamokos-ir-prieziuros-lukesciai-atsakingo-finansiniu-paslaugu-teikimo-link

Clues?

With all due respect David, its the type of posts below that confirm to me the MiCA rejection or delay has not been priced in totally.

I have posted information that is confirming the MiCA licensing in Lithuania is the toughest in the EU. You can also verify a number of red flags that GS Fintech have in this application just by small due diligence, comparing to the approved for instance, but GS Fintech and Bake virtual offices, very little executive decision making etc in LT and thats without me understanding there AML structure and mind management team in Singapore in another virtual office.

Sentiment and volume has been smashed here and sentiment will not be amused over the next few days.

IMO MiCA is delayed at best for GST. I think its too expensive for them to pursue and implement tbh and I dfont hink they realised that until the app was deep in .......I am more concerned about Semnet arbitration resolution being RNS'd, for you guys that needs to happen before the 10th January, if not, then it was another embellished tall tale to ramp the share price. That failed.

The momentum downward has been very aggressive for the last month and a lot of that is to do with a poor interims report and the lag on MiCA.

I wish you well on crumbling fundamentals.