Regulation & MiCA
MiCA, licensing and tax rules across the Baltics and Nordics, explained clearly.
41 articles
MiCA explainer
ESMA stablecoin deadline 31.10.2026: CASP explained
Explanation format publication: no new dated events in the segment in the last 24 hours, so we are looking at ESMA's 8 October opinion and the 8 January 2027 deadline for MiCA non-compliant stablecoins.
No new dated events in the segment in the last 24 hours, so we offer an explanation. On 8 October, ESMA issued an opinion requiring CASPs to cease services for MiCA non-compliant stablecoins (e.g., USDT); balances must be resolved by 8 January 2027. What this means for regional exchanges, cards, and users.
toms-abeltins· 31 Oct 2026· 6 min readMiCA explainer
Segment Review 29.10.2026: CASP and Wallet Security
Explanation and Watchlist Edition: The Baltic and Nordic CASP landscape at the end of October, the Payward-Saldo Bank transaction, and hardware wallet reseller security. No fresh news in the segment this time.
There has been no new, clearly datable significant event in the segment over the last 24 hours – so this is an explanation and watchlist edition. We look at the regional CASP landscape (around 377 licences in the EEA as of 19.10.2026), Payward's 14 October agreement to buy Lithuania's Saldo Bank, and the hardware wallet reseller security story.
toms-abeltins· 29 Oct 2026· 7 min readMiCA explainer
Stablecoin Deadline 28.10.2026: CASP Watchlist
Explanation: No new significant developments in the Baltic and Nordic CASP sector in the last 24 hours. We take an in-depth look at ESMA's 8 October opinion on MiCA non-compliant stablecoins, the approximate 8 January 2027 liquidation deadline, and the state of CASP licensing in the region at the end of October.
Today, we are publishing an explanatory piece as there have been no definitively dated new developments in the Baltic and Nordic CASP segment in the last 24 hours. The focus is on ESMA's 8 October 2026 opinion, which requires MiCA-licensed service providers to cease services for non-compliant stablecoins (e.g., USDT) to EU clients, with an approximate 8 January 2027 deadline for liquidating remaining positions. We also examine the Bank of Latvia's licensing landscape and the region's watchlist.
toms-abeltins· 28 Oct 2026· 6 min readMiCA explainer
Hardware Wallet Security 27.10.2026: An Explanation
An explanation for the Baltic and Nordic segment: Ledger CryptoBilis implant incident, Trezor reseller network tightening, the new Ledger Atom device, and ESMA register movement without regional firms.
Over the past 24-48 hours, there have been no clearly datable new developments in our segment. We offer an explanation of hardware wallet supply chain security: the Ledger CryptoBilis incident, the tightening of Trezor's reseller network, and the new Ledger Atom device, alongside the regional regulatory watchlist.
toms-abeltins· 27 Oct 2026· 7 min readMiCA explainer
Non-MiCA Stablecoins 26.10.2026: Baltic Watchlist
Explainer and Watchlist Publication: No new dated events in the region in the last 24 hours or week, so we're examining ESMA's 8 October opinion on the wind-down of unauthorised stablecoins in the Baltics and Northern Europe.
No new dated events in our segment in the Baltics and Northern Europe in the last 24 hours, so we're offering an explainer: On 8 October, ESMA called on MiCA-licensed CASPs to cease services related to unauthorised stablecoins (ART/EMT) by approximately 8 January 2027. This has implications for regional exchanges and cards.
toms-abeltins· 26 Oct 2026· 6 min readMiCA explainer
Latvia's Crypto Tax Reform 25.10.2026: What's Changing
An explanation for the Baltic and Nordic segment: The crypto tax reform adopted by the Saeima on 15 October - investment account regime, one-off 10% declaration, and a calendar of deadlines up to 2027.
In the last 24 hours, there have been no new datable regulatory events in our segment. Therefore, today we are explaining Latvia's crypto tax reform, adopted by the Saeima on 15 October: investment account tax deferral, a one-off 10% declaration based on 31 December value, and deadlines up to 2027.
toms-abeltins· 25 Oct 2026· 6 min readMiCA explainer
CASP Licence Map 23.10.2026: Latvia Takes the Lead
A snapshot of the Baltic and Nordic segment: The EEA MiCA register shows ~377 CASPs as of 19.10.2026, with Latvia becoming the regional leader in 2026 with nine CASP and four EMI licences.
There have been no new datable events in the segment over the past 24 hours, so we offer an explanation with precise dates. The EEA MiCA register shows ~377 CASPs as of 19.10.2026, with growth still driven by German banks via Article 60. In the Baltics, Latvia has taken the lead (9 CASP + 4 EMI in 2026), while Lithuania and Estonia remain selective.
toms-abeltins· 23 Oct 2026· 5 min readMiCA explainer
Latvia's CASP Register 10.10.2026: 12 MiCA Licences
An explanation for the Baltic and Nordic segment: no new clearly datable events in the last 24 hours, so we examine why Latvia is leading the region with 12 MiCA CASP licences.
There have been no clearly datable events in our segment over the last 24 hours or the past week, so we offer an explanation. Reference point: the Bank of Latvia's decisions on 30th September, which granted licences to Noah LV, Atrya Technologies, and Neverless, bringing Latvia's MiCA CASP count to 12.
toms-abeltins· 10 Oct 2026· 6 min readMiCA explainer
MiCA Review 07.10.2026: What ESMA Proposes for CASPs
Explainer: ESMA's Late-September Proposals for MiCA Review and the State of Baltic and Nordic CASP Licensing Post-Transition Period
There have been no fresh developments in the region's crypto segment in the last 24 hours, so we offer an explainer. ESMA submitted its response to the European Commission's MiCA review consultation in late September, proposing changes in DeFi, stablecoins, staking, and supervision. This article summarises the proposals and provides a map of regional CASP licences with precise dates.
toms-abeltins· 7 Oct 2026· 7 min readMiCA explainer
ESMA MiCA Review 05.10.2026: What it Means for CASPs
In-depth analysis for the Baltic and Nordic crypto segment: With no new clearly datable events in the last 24 hours, we explain what ESMA's 30 September MiCA review response to the European Commission - covering DeFi, staking, stablecoins, and centralised CASP supervision - means specifically for market participants in the region.
With no new clearly datable events in our segment in the last 24 hours, we offer an in-depth explanation. On 30 September, ESMA submitted its response to the European Commission regarding the MiCA review, with recommendations on DeFi gateways, distinguishing staking and lending, stablecoins, and stronger, more centralised supervisory powers over larger CASPs. We analyse what this direction means for Baltic and Nordic CASPs and users. This is an explanation, not breaking news; changes are not yet in effect.
toms-abeltins· 5 Oct 2026· 5 min readMiCA explainer
Cyber Resilience Act 29.09.2026: Wallets and CASPs
An explanatory article for the Baltic and Nordic crypto exchange, hardware wallet, card, and tax tool segment: there have been no new clearly datable events in the last 24 hours or the last week, so we are taking an in-depth look at the EU Cyber Resilience Act's reporting obligations, which came into force on 11 September 2026.
There have been no new clearly datable events in our segment in the last 24 hours or the last week, so we are publishing an explanation. We are taking an in-depth look at the EU Cyber Resilience Act (Regulation (EU) 2024/2847): its vulnerability and incident reporting obligations came into force on 11 September 2026 and apply to hardware wallet manufacturers (Ledger, Trezor, BitBox, Coldcard, Tangem) and many CASP software products. With a 24/72-hour reporting cascade, MiCA context, and watchlist.
toms-abeltins· 29 Sept 2026· 7 min readMiCA explainer
MiCA CASP Map 10.09.2026: Regional Exchange Status
An explanation, not a daily news report: there have been no clearly datable events in our segment over the past 24 hours or week. Therefore, we are mapping the MiCA licensing landscape for Baltic and Nordic crypto exchanges after the 30th June transition deadline and analysing the lessons from Sweden's Goobit rejection.
There have been no new, clearly datable events in our segment over the past 24 hours or week, so this is a MiCA explanation, not a news report. We are mapping the licensing of regional crypto exchanges after the 30th June transition deadline: Norway (TÝR Markets, K33 16.06., NBX 30.06., Firi, Bare Bitcoin) and Latvia are seeing a concentration of authorisations, but Sweden's Goobit/BTCX application was rejected by Finansinspektionen on 2nd July due to AML concerns.
toms-abeltins· 10 Sept 2026· 7 min read