The Latvian Central Bank announced the introduction of a measure offering free pre-licensing consultations to crypto companies, aimed at assisting them in navigating the impending EU regulations on cryptocurrencies. From January 2025 onwards, the bank will assume responsibility for handling applications and issuing licenses for local CASPs (Crypto Asset Service Providers). This step reflects Latvia's proactive approach in promoting compliance within the digital currency industry. Reinis Znotins, the Executive Director of the Latvian Blockchain Association, further stated that the association would fully support local CASPs through the licensing process, indicating a positive response from the industry towards this policy shift.