The Bank of Latvia provides pre-licensing consultations to cryptocurrency companies

ChainCatcher news, according to Cointelegraph, the Bank of Latvia is taking proactive measures to provide free pre-licensing consultations for crypto asset service providers in line with the upcoming EU cryptocurrency regulations.

Starting from January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. Meanwhile, the bank stated that it is helping businesses prepare for this through free pre-licensing consultations. Central bank experts will provide businesses with regulatory guidance tailored to their needs, all necessary documentation, and an initial assessment of each business's compliance level.