Spaudos centras
Spaudos centras
ECOVIS ProventusLaw has advised Trek Technologies SIA, operating under the brand Backpack, on obtaining authorisation from Latvijas Banka as a crypto-asset service provider in the EU under the Markets in Crypto-Assets Regulation (MiCA).
The authorisation enables Trek Technologies SIA to provide regulated crypto-asset services within the European Union, including the custody and administration of crypto-assets, exchange services, execution of client orders, and transfer services for crypto-assets.
MiCA, which entered into force in 2024, establishes a harmonised EU regulatory framework for crypto-asset service providers and introduces mandatory authorisation requirements across the European Economic Area. Once authorised in one EU Member State, CASPs may provide services across the EEA under the cross-border notification regime.
ECOVIS ProventusLaw notes that the implementation of MiCA is increasingly shaping supervisory expectations in the EU crypto-asset sector, with regulators focusing not only on formal compliance but also on governance structures, internal control systems, and operational resilience of applicants.
The authorisation reflects the continued practical implementation of the MiCA framework across EU Member States and the ongoing development of a harmonised regulatory environment for crypto-asset service providers.
About ECOVIS ProventusLaw
ECOVIS ProventusLaw is a business law firm operating in Lithuania, Latvia, and Estonia and part of the ECOVIS International network. The firm advises local and international clients on complex corporate, regulatory, fintech, employment, dispute resolution, tax, and technology matters, with a particular focus on cross-border mandates across the Baltic region.
The firm has extensive experience in fintech and financial services regulation, including MiCA, payment institution, and electronic money institution licensing projects across the Baltic States and the EU.