Member Info for Chaebol

Critical Deadlines in 2026

Companies currently operating under "pending" status are racing against these upcoming regulatory "cliffs":

2 March 2026: End of the transitional period for certain E-Money Token (EMT) services. Any CASP providing payment-like services for stablecoins must hold additional authorization by this date or cease those specific activities.

Impact on VASPs: If a grandfathered VASP provides payment-like services for stablecoins (EMTs), they must have applied for or obtained a Payment Services Directive (PSD2) license by this date.

1 July 2026: The absolute final "grandfathering" deadline. Any entity across the EU that does not have a formal MiCA authorization by this date must cease operations and begin an orderly wind-down of client assets.

I am sure if i had used significant and the bod had said VAST you would switch sides just like that.

Mental.

I used vast to drive home the scale of the effort GST put in—months of work starting around late October 2024 (or really ramping up post-submission in September 2025), legal tweaks, follow-up responses to the Bank of Lithuania's questions on ownership/structure, hiring compliance folks, consultancy fees, and all the behind-the-scenes grind just to chase that MiCA CASP license. Then the transitional period ended December 31, 2025, without approval, so they pivoted to resubmitting in Q1 2026 while shifting ops to the Polish VASP entity they acquired. That's not pocket-change admin; it's a huge resource sink in time, money, and focus for a company that's still loss-making and scaling.

I called it "vast"—describing the reality in plain, punchy English. And the reality is vast amounts of money and time have been used for this MiCA app.

Who are these 13 companies BFD?

If i told you I spent vast amounts of money would you understand it means lots

I spent significant amounts of money, does that mean i again spent lots......

A clown could make the distinction, but you do your grammar world....am i weported now? x;)

Leew, vast/significant same thing.....

when all youve got is that I have to say sir, you are a plum!

Out of over 100 applications only 13 have been formally rejected

and who are these 13 companies?

Binance. and who are the rest..........Banys for coingate said somethign very apt 18th December, he said a lot of companies will walk away from MiCA apps when they realise not how expensive it all is....s but how expensive it is to maintain.... many of those 55 companies have pivoted elsewhere and looked and hope for better jurisidictions ie binance and lots went in Nov Dec to Estonia Latvia and Poland.

GS Fintech wasting their time going for this in LT.

They didnt run out of time Kat, BOL informed them they needed to reapply as the current app was not good enough, pending apps 10 from last year are still being evaluated around from what i understand with 1 or 2 potential expected approvals.

check lb.lt for updates.

Application in pwogwess that didnt make it past first base.

So not even a proper application.....laughable almost with its errors.

Here you go Billy x

GS Fintech UAB needs a full MiCA CASP licence (specifically at least Class 2, and potentially Class 3 depending on exact features) because its business includes operating the GS20 crypto-to-crypto and fiat exchange, providing custody or administration of client crypto-assets, and offering swaps/staking/savings through the integrated Bake platform. These activities go far beyond the basic intermediary services allowed under Class 1 (which is limited to advisory, order transmission, and placement without custody or exchange). Class 1 would not legally permit them to run an exchange or hold client assets, so anything less than Class 2 would prevent them from continuing core operations. If they operate a full trading venue/marketplace (as many exchanges do), they may even require Class 3 for the highest level of authorisation. In short, their service scope demands the mid-to-high tier MiCA CASP licence with the corresponding capital and compliance requirements (€125,000–€150,000 minimum), not the lighter Class 1 setup.

Its BOL that want scale and substance, GS Fintech UAB looks silly next to Coingate, Nuvei and Robinhood and already bol have rejected binance and revolut went elsewhere after founding its company there, thats how tough it is!, I said ages ago they need to walk away from LT and find somewhere kinder if possible.

Tim also told me in September in an email they had made considerable expenses in aligning with MiCA requirements/protocols.

Leew, vast/significant same thing.....

From GST RNS links below....

"During the year, significant MiCA compliance costs, including legal fees, consultancy fees, and recruitment costs have been incurred to ensure the Group fully complies with licensing requirements."

This appears in the operational/strategic review section discussing GS Fintech UAB's progress toward MiCA compliance (their Lithuanian subsidiary handling the GS20 exchange and Bake platform). It's repeated across multiple sources:The full annual report PDF (via RNS): http://www.rns-pdf.londonstockexchange.com/rns/0394Z_1-2025-9-11.pdf

Company blog post: https://www.gstechnologies.co.uk/post/results-for-the-year-ended-31-march-2025

LSE announcement: https://www.londonstockexchange.com/news-article/GST/results-for-the-year-ended-31-march-2025/17227724

How much expense is required on the reapp to make it viable?, the MiCA pivot is coming.

Not really there not that much happening in EU it’s busted flush for growth.

Lol you buttering everyone up for the MiCA rejection.........amazing GST can spend vast amounts of money and time since October 24 aligning itself with MiCA lol now the EU is a busted flush for growth lol

Should have added 55 Companies applied, some of them reapplied during the year.

Reckon we get March MiCA pivot and they wind down plans for that license. It was a tough bar a lot tougher than most thought, even the legal firms in Lithuania.

No way GS Fintech with its 12k in taxes, very little substance etc etc will get this license in LT, think we get the news in March on that.

Current Status and Statistics (as of February 2026)

Applications Received: 102 in 2025, with submissions starting in January but ramping up mid-year.

By July 2025: ~30; October: ~50; many returned for incompleteness.

Licenses Issued: Only 3 by January 2026 (down from 324 pre-MiCA VASPs).

Known recipients: UAB Nuvei Liquidity and UAB Decentralised (December 2025).

One earlier Robinhood.

Under Review: ~10-12 as of late 2025/early 2026.

Sector Impact: From 800+ entities pre-MiCA to ~100+ applicants; many exited due to costs/complexity.

fintechbaltic.com

Metric

2025 Data

Notes

Applications Submitted

102

Many incomplete; ~50% returned initially.

fintechbaltic.com +1

Licenses Granted

3

UAB Nuvei, UAB Decentralised, one other.

ecovis.lt +1

Pre-MiCA VASPs

324-369

Sharp decline post-transition.

fintechbaltic.com +1

But that is immaterial.

100 million owner going yum yum for 9 months in a doom loop, and no matter how much the BOD fook up which there have been many, its arent they great and wonderful. and all im gonna do is claim to buy more......yum yum

Its tragic.

Erm no MAssi becasue she doesnt claim to own 100 million shares.

So it has no influence x;) Unlike billy yum yum claims

So we have 7758410 sells

Lol 7.5 million were sold in the first 22 minutes today.

No I laughed ! but thats what Kat does, initiates self ramping buying/selling sprees......hopefully the last one taught her a valuable lesson here.

Never trust this BOD, ever.