Crypto exchange news in the Baltics and Nordics - 27 May 2026

On Wednesday, 27 May 2026, the Baltic and Nordic crypto industry is marked by an accelerating pace of MiCA licence issuance. On 18 May Norway's Finanstilsynet granted the first full Crypto-Asset Service Provider (CASP) authorisation to TÝR Markets AS - the first pure crypto operator in Norway to hold a comprehensive MiCA Article 63 licence. In Sweden, Safello has become the first nationally MiCA-licensed operator, with permission to provide trading, brokerage and full custody across the entire EEA. In the Baltics, the Bank of Latvia continues its systematic processing of new applications, while Lietuvos bankas counts down 218 days to the 31 December national deadline. The region has 35 days remaining until the MiCA transitional period ends on 1 July 2026.

Norway - TÝR Markets secures the first full CASP authorisation

Following Finanstilsynet's official statement of 23 May confirming Norway's MiCA transitional extension to 30 June, the regulator has issued its first full CASP licence this month. On 18 May 2026, TÝR Markets AS received a full CASP authorisation under Article 63 of MiCA, granting rights to portfolio management, exchange operations, transfer services and custody of crypto-assets. This makes TÝR Markets the first Norwegian pure crypto exchange to hold a full MiCA mandate ahead of the transitional deadline. It is a meaningful signal of confidence in the sector and reflects a gradual but determined Finanstilsynet posture.

In parallel, Firi - the largest Nordic crypto exchange with over 400,000 verified users - continues to operate under the national VASP transitional regime while Finanstilsynet processes its full-scope CASP application. Firi has concentrated its regulatory efforts on the Norwegian licensing round, but a full authorisation has not yet been granted. The same applies to Bare Bitcoin, K33 and NBX, which remain in the application phase. Earlier, in the separate Article 60 category for portfolio management and institutional services, AK Jensen was the first to receive a MiCA authorisation in Norway.

If those applications are approved before 30 June, Norway will effectively run a broad regionally licensed crypto exchange layer. For now, however, TÝR Markets is the only firm with a full CASP authorisation.

Sweden - Safello opens up full MiCA-grade custody

In Sweden, Finansinspektionen has issued its first full CASP licence to Safello, until now the largest Swedish crypto exchange with more than 410,000 registered customers and roughly 30 listed crypto-assets. The licence allows Safello to offer trading, brokerage and full custody of digital assets across the entire EU and EEA through MiCA passporting. This opens the door for Safello to expand operations into the Baltic and other Nordic jurisdictions without needing separate national licences.

By comparison, Sweden has so far not been one of the leaders in MiCA application processing - the Safello approval is the first larger-scale political signal that Finansinspektionen is starting to process domestic applications more actively in the run-up to the transitional deadline.

Latvia - 12 applications in pre-submission phase, regulator continues its measured path

Following the fourth CASP licence granted to Neverless SIA on 25 May, the Bank of Latvia continues to process new applications. According to the regulator's latest publications, there are currently five submitted application files and a further 12 in the pre-submission consultation phase. That leaves substantial headroom for an additional three or four CASPs to be submitted before the 1 July deadline.

Latvia's approach - gradual, consultative and oriented towards small and mid-sized operators - contrasts with Norway's rapid issuance of licences to major national players. It positions Latvia as a trusted MiCA jurisdiction for niche operators, fintech start-ups and institutional service providers requiring an EU passport.

The Bank of Latvia continues to remind market participants that submitting an application before the transitional deadline is the only safe route to retain grandfathering rights and continue operating under a national licence while the Bank processes the MiCA application.

Lithuania - 218 days to the 31 December deadline

Lithuania, which opted for a shorter national transitional period running until 31 December 2026, continues active outreach to unlicensed operators. According to Lietuvos bankas data, around 800 virtual asset firms are registered - one of the largest crypto sectors in the Baltics - but fewer than 30 have applied for a MiCA licence. The remainder are either planning to wind down or already inactive.

Only three fully MiCA-licensed operators are currently active in Lithuania: Robinhood Europe, Nuvei Liquidity and Decentralized (operating under the Coingate brand). This means the next seven months are likely to see significant consolidation in the Lithuanian market, with over 770 inactive operators either leaving the market or moving to formal wind-down.

European Commission MiCA review consultation

In parallel with national regulatory work, on 20 May 2026 the European Commission officially launched a consultation on the review of the MiCA Regulation, which will run until 31 August. The Commission is assessing whether the 2024 framework remains fit for purpose in light of market realities - particularly in the context of traditional financial institutions entering tokenised assets, the rapid growth of stablecoin markets and the US regulatory environment.

The consultation includes both a general public component and a targeted section for industry participants including digital asset issuers and CASPs. The Commission's early move to re-examine its core framework is unusual in EU policymaking and indicates that market dynamics have shifted faster than originally anticipated.

Market context and summary

In Wednesday trading, Bitcoin's opening price hovered around the US$77,000 zone, with Ethereum close to US$2,100. Market reaction to the latest MiCA news remains measured - investors have already priced in the July deadline as a predictable event. Attention is focused on the consolidation dynamic between licensed and unlicensed operators.

The regional snapshot for Wednesday: Norway has issued its first CASP licence to a pure crypto exchange (TÝR Markets), while major national players including Firi remain in the application phase. Sweden has begun accelerated application processing after a relatively quiet first quarter. Latvia and Finland continue gradual, systematic work. Lithuania approaches the December deadline with the largest number of inactive operators. Estonia, in transition mode, is using partial licence suspensions ahead of full revocation in the Zondacrypto case, where the 30-day remediation window is now entering its final week.

Investors using Baltic or Nordic exchanges are still advised to verify the MiCA licence status of their operator in the relevant national regulator's register or in ESMA's interim MiCA register before 1 July. That is the only firm guarantee that the service provider will be able to continue operating after the transitional period ends and that client funds will be protected under the unified EU regime.

Sources

• ESMA - Statement on the end of transitional periods under MiCA (April 2026)
• Finanstilsynet - Týr Markets AS får tillatelse som CASP-foretak (18.05.2026)
• Finanstilsynet - Uttalelse om overgangsordningene etter kryptoeiendelsloven (MiCA)
• MiCA in the Nordics and Baltics: Who Has a Crypto Licence? (Kaupr)
• Finanssivalvonta - The European regulatory framework on crypto-asset service providers is complete (May 2026)