Lithuania's Fintech Oversight: National Regulator Steps Back (euobserver.com)

• 119 fintech firms licensed in Lithuania, moving €152bn in 2024.
• Regulator revoked 9 licences, issued only 3 in 2024.
• EU's PSD3 reforms agreed but not yet law; legacy risks remain.

"Lithuania licensed the most fintech payment firms in the EU after Brexit, but its regulator is now retreating, revoking more licences than granting. EU reforms arrive too late to address risks already passported across the bloc."