Regulation & MiCA
MiCA, licensing and tax rules across the Baltics and Nordics, explained clearly.
15 articles
MiCA explainer
MiCA Rejection Appeal 25.07.2026: Lessons from Goobit
An explainer, not daily news: How the MiCA authorisation rejection appeal mechanism works for Nordic and Baltic exchanges, using the Goobit (BTCX) case as the first practical precedent.
There have been no new primary events in the last 24 hours, so we're providing an in-depth explanation of an ongoing topic: what happens when a national supervisor rejects a MiCA licence application, and how an exchange can appeal it. Goobit AB's (BTCX) 23rd July appeal against the Swedish Finansinspektionen's 2nd July rejection serves as the first Nordic precedent; a review of regional supervisors and a watchlist are also included.
toms-abeltins· 25 Jul 2026· 6 min readMiCA explainer
Crypto Cards 23.07.2026: Baltics and Nordics
Thursday, 23rd July: No primary event to report in the last 24 hours, so this is an explanatory article on crypto cards in the Baltic and Nordic markets. We cover the impact of MiCA e-money tokens, issuer authorisations, fees, and tax implications.
In the last 24 hours (22nd-23rd July), there have been no new primary developments in the Baltic and Nordic crypto exchange, CASP, hardware wallet, card, and tax tool segments. Therefore, this is an accurately dated explanatory article on an ongoing topic: crypto cards serving users in LV, LT, EE, FI, SE, NO, and DK in 2026. We examine how the MiCA e-money token (EMT) regime, effective from 30th June 2024, impacts stablecoin-backed cards, which issuers (Crypto.com, Kraken Krak, Bybit EU, etc.) with EU authorisations serve the region, how to compare total fees and euro settlements, and why spending with a card is a taxable disposal in most countries within the context of DAC8/CARF reporting.
toms-abeltins· 23 Jul 2026· 7 min readMiCA explainer
DAC8 and CARF 22.07.2026: Crypto Tax Reporting
Tuesday, 22nd July: No primary event to report in the last 24 hours, so here's an explanatory article on DAC8/CARF. From 01.01.2026, crypto service providers will collect tax data; first reporting in 2027. Baltic and Nordic map.
In the last 24 hours (21st-22nd July), there have been no specific primary updates in the Baltic and Nordic crypto exchange, CASP, hardware wallet, card, and tax tool segments. Therefore, this is an explanatory article on an ongoing topic: DAC8 (Council Directive (EU) 2023/2226, adopted 17.10.2023) and the OECD CARF framework for crypto-asset tax reporting. From 1st January 2026, crypto-asset service providers (RCASPs) will collect user and transaction data; the first reports to national authorities are due in early 2027 (in Estonia by 30.06.2027), with international exchange by 30.09.2027. In Latvia, amendments to the law "On Taxes and Fees" were published on 21.11.2025 (penalties up to 14,000 euros, partial implementation). Norway is not subject to DAC8 and is implementing CARF directly through Skatteetaten.
toms-abeltins· 22 Jul 2026· 7 min readMiCA explainer
Reverse solicitation MiCA 19.07.2026: EU client boundary
An in-depth explanation of the MiCA Article 61 reverse solicitation exception and ESMA guidelines - can Baltic and Nordic users still use non-EU based exchanges after the end of the transitional period on 1 July and the framework's completion on 28 July.
Following the end of MiCA's transitional period on 1 July, many Baltic and Nordic users are asking: can I still use my non-EU based exchange? The answer lies in the MiCA Article 61 reverse solicitation exception, which ESMA guidelines deliberately make very narrow. This explanation outlines what users and service providers are permitted to do, and why 28 July is an important date.
toms-abeltins· 19 Jul 2026· 8 min readMiCA explainer
MiCA CASP Staff Competence 28.07.2026
Explanation and Watchlist: What Changes on 28 July, to Whom ESMA's Knowledge and Competence Guidelines Apply, and What Baltic and Nordic CASPs Must Achieve by the Deadline.
There have been no significant new regulatory developments in our segment over the past 24 hours. This explanatory article covers the next MiCA deadline: 28 July, when ESMA's guidelines on the knowledge and competence of CASP staff (ESMA35-1872330276-2380) come into force, affecting all licensed Baltic and Nordic exchanges.
toms-abeltins· 17 Jul 2026· 6 min readMiCA explainer
Lithuania's CASP Map 16.07.2026: What Remains After MiCA
Wednesday, July 16: No new primary segment event in the last 24 hours, so we offer an explanation of Lithuania's crypto industry consolidation and a regional CASP license map two weeks after the MiCA deadline.
In the last 24 hours (July 15), there have been no new, independently datable primary events in the Baltic and Nordic crypto exchange and CASP segment. Therefore, this is a clearly labelled explanatory article, not a news roundup. We examine how Lithuania's crypto industry has shrunk two weeks after the July 1st MiCA transition deadline – from approximately 850 registered companies in 2022 to a handful of MiCA CASP authorisations – and compare the regional license map (LV, EE, FI, SE, NO, DK). All figures are presented as background information with dates, not as breaking news.
toms-abeltins· 16 Jul 2026· 7 min readMiCA explainer
Tangem Laser Attack 13.07.2026: What it Means
Monday, 13th July: An in-depth explanation of the laser fault injection attack on Tangem hardware wallet cards, disclosed by Ledger Donjon on 9th-10th July. What happened, how it works, why it can't be fixed, and what it practically means for Baltic and Nordic self-custody users.
Ledger's security team, Donjon, disclosed a laser fault injection attack on Tangem cards on 9th-10th July, allowing password reset without the existing password. The attack affects all cards in circulation and is unfixable as the cards lack a firmware update mechanism. However, it requires physical possession of the card, a lab worth approximately $250,000, and two hours of work. Tangem describes the risk to the everyday user as 'virtually non-existent'. We explain the technical details, compare it to the Trezor Safe 7 finding in June, and outline what it means for users in the region.
toms-abeltins· 13 Jul 2026· 7 min readMiCA explainer
MiCA Framework Finalised on 10.07.2026: ESMA Guidelines
The MiCA transitional period has concluded, with ESMA's final guidelines on CASP staff competence becoming applicable on 28 July. What the finalised framework means for Baltic and Nordic exchanges and users.
Given the absence of new, datable developments in our segment over the past 24-48 hours, this article serves as an explanatory piece. The MiCA transitional period concluded on 1 July, with Finland's Finanssivalvonta confirming the framework for crypto service providers is now complete; ESMA's final guidelines become applicable on 28 July.
toms-abeltins· 10 Jul 2026· 9 min read
Regulation
GENIUS Act - first US stablecoin law
The Guiding and Establishing National Innovation for U.S. Stablecoins Act, signed on 18 July 2025, brings 1:1 reserves, monthly reports and consumer protection. What does it mean for USDC, USDT and the European stablecoin market?
The GENIUS Act is the first US federal law regulating USD-backed stablecoins. Signed on 18 July 2025, it requires 1:1 reserves in safe assets (USD and T-bills), bans interest payments to holders, sets AML/KYC obligations and gives consumers priority in bankruptcy. In June 2026 US lawmakers reached a compromise on stablecoin yields that lifted Coinbase and Circle shares by 7% and 15% respectively. In this friendly explainer we walk through the key requirements, compare them with Europe's MiCA and show how the law affects Baltic and Nordic users.
toms-abeltins· 5 Jun 2026· 5 min read
Regulation
TÝR Markets - first Norwegian crypto-native MiCA CASP
On 18 May 2026 Týr Markets AS became the first Norwegian crypto-native company with a full MiCA Article 63 CASP licence. This is the biggest Nordic MiCA story of 2026. A deep look at the platform, Volven AS's seven-year technology journey, founder Filip Berg-Nielsen, the partnerships with Arctic Securities and StackXMe, and what it means for the NorriWire region.
On 18 May 2026 Norway's Finanstilsynet issued the first crypto-native MiCA Article 63 CASP licence in the country - the recipient is Týr Markets AS. This is the biggest Nordic crypto regulation story of the year: behind the exchange stands 25-year Oslo Stock Exchange market maker Filip Berg-Nielsen and the seven-year technology built at Volven AS. This article takes a detailed look at what TÝR Markets is, how it came to be, who runs it, the financials and partnerships, and what it means for Baltic and Nordic clients.
toms-abeltins· 28 May 2026· 11 min read
Regulation
Newrails (Ambr Payments) MiCA EURW Token Analysis
Dual-licensed EMI in Lithuania and VASP in Czechia, 2025 financial figures, owners, risks and fintech settlement rails
Comprehensive public-fact analysis of Newrails, UAB. Learn about ownership structure (Typhoon Wealth), 2025 financial performance, Monad EURW stablecoin rails, and our recommendation for B2B vs retail markets.
toms-abeltins· 25 May 2026· 6 min read
MiCA explainer
Zondacrypto & BB Trade Estonia Crisis: 4,500 BTC
Deep-dive analysis of the regions largest exchange collapse: partial suspension of VASP license, MiCA violations, financial irregularities, and fraud investigations surrounding $95 million in losses
Zondacrypto (BB Trade Estonia OÜ), which serves over one million clients, is facing an existential crisis. Estonia's FIU has partially suspended its license, revealing that 4,500 BTC is locked in a cold wallet whose only keys disappeared with the missing founder. This deep dive report compiles only verified facts.
toms-abeltins· 24 May 2026· 8 min read