While U.S. crypto heavyweights report massive Q4 losses amid collapsing token prices, Europe faces a more structural crisis. The MiCA transition is turning Lithuania into a regulatory stress laboratory — and early signals suggest a wave of “quiet” and “regulatory” bankruptcies may reshape the EU crypto landscape by 2026.
Lithuania has ceased to be the "Wild West" of European crypto. As the Bank of Lithuania drops the MiCA guillotine, once-dominant iGaming rails like utPay and CoinsPaid have vanished into a regulatory blackout. With only a 3% survival rate for registered VASPs, the industry is witnessing a desperate migration to the "Polish Shelter." Is this a cleanup, or merely a relocation of the shadow economy?
