Regulator: Financial and Capital Market Commission (FKTK)
Latvia does not have its own national stablecoin law but is bound by EU regulations. Under MiCAR, stablecoin issuers (EMTs and ARTs) must secure authorization, provide whitepapers, maintain fully backed reserves, and adhere to AML/CFT compliance. The Financial and Capital Market Commission (FKTK) is Latvia's national competent authority for supervising financial markets and crypto firms under MiCAR.
