The Central Bank of Latvia is taking active steps to provide free pre-licensing consultations to crypto asset service providers in line with the upcoming European Union cryptocurrency regulations. From January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. At the same time, the bank said it is helping businesses prepare for this through free pre-license consultations. Reinis Znotins, executive director of the Latvian Blockchain Association, said the association is "committed" to supporting local CASPs through the licensing process.