Is crypto legal in Latvia?

Yes, crypto is legal in Latvia. People can buy, hold, trade and sell bitcoin and other crypto, and companies offering crypto services must be authorised under the EU's Markets in Crypto-Assets regulation (MiCA). As of October 2026, Latvijas Banka handles that licensing and supervision.

Is bitcoin legal in Latvia?

Yes. There is no ban on owning or using bitcoin, but it is not legal tender. Latvia adopted the euro on January 1, 2014, and the lats stopped being legal tender on January 15, 2014, according to the European Central Bank. A business can choose to accept crypto, but no one has to.

Is crypto allowed in Latvia for businesses?

Yes, with a licence. MiCA has applied across the EU since December 30, 2024, and Latvijas Banka began accepting applications from crypto-asset service providers in January 2025. Before applying, firms can use free pre-licensing consultations, where the bank explains the rules and runs an initial compliance check, LSM reported.

Latvia chose one of the shortest transitions in the EU. Firms already operating under national rules could continue for only six months, until June 30, 2025, according to ESMA's list of national transition periods. Our guide to MiCA explains how these periods worked.

A Latvian licence can be used across the EU. When Latvijas Banka licensed BlockBen SIA on December 3, 2025, as the first crypto-asset service provider authorised in Latvia under MiCA, it said the firm could offer its services in other EU countries under MiCA's procedure.

What is happening with crypto in Latvia?

Latvia is trying to attract fintech firms. Latvijas Banka said in December 2025 that it had held 50 consultations that year, received applications from five companies and was in pre-licensing talks with 12 more. Its deputy governor, Santa Purgaile, said Latvia wants to be a base for fintech companies that can scale across the EU.

Existing financial firms can also add crypto services. In June 2026, Latvijas Banka authorised investment firm AS TWINO Investments to provide custody, crypto-to-cash and crypto-to-crypto exchange, and order execution. Licensed firms can be checked in the bank's market participant register.

This guide does not cover tax. For how countries approach crypto taxes, see crypto tax around the world, and for other countries' rules, see crypto regulation around the world.

Rules differ by country and change often. Check the regulator or a qualified professional for your own situation.