Lithuania just yanked the rug out from under a chunk of the SoftSwiss iGaming underworld. Dream Finance UAB — operating as CoinsPaid/CryptoProcessing and widely tied to the SoftSwiss empire — has frozen all Lithuanian crypto services. Marketed as a “temporary suspension,” the move comes after MiCA’s grandfathering expired on 31 December 2025 and reads like a forced ejection.
CoinsPaid’s legal notice: no onboarding, no transactions, no new contracts. The group’s Estonian and North American shells remain on paper, but without a valid EU CASP license they can’t lawfully serve EU customers. This is a direct hit to SoftSwiss’s payment plumbing — the rails long used by a network of iGaming operators reportedly linked to founder Ivan Montik and executives named in industry scrutiny such as Pavel Kashuba and Maksim Trafimovich.
MiCA’s tougher regime (including a €125,000 paid-up capital hurdle and rigorous fit-and-proper vetting) stripped away Lithuania’s easy regulatory veneer. CoinsPaid’s choice to “suspend” rather than fight for authorization reeks of regulatory failure or a deliberate attempt to dodge public enforcement. The result: SoftSwiss-linked merchants face a credibility and operational squeeze as euro rails become harder to sustain.
Expect the same risky flows to attempt a reroute via Estonia or North America — same principals, same management ties, different mailing address. Regulators have landed a heavy blow on the Montik-linked network; the pressing task for banks and compliance teams is to decide whether to shut down these exposure routes or let the shadow ecosystem reconstitute itself elsewhere.