Lithuanian financial regulators have adopted amendments to the law on money laundering and terrorist financing. According to the new rules, cryptocurrency will be regulated by these two points. This was reported in Delfi.
Financial regulation of cryptocurrency in Lithuania
The Lithuanian Cabinet of Ministers approved and signed regulatory amendments to laws on the prevention of money laundering and the financing of terrorist organizations. According to the new legislation, cryptocurrency exchanges and exchangers that operate on the territory of the country must be checked and obtained work licenses.
Mandatory registration and recording of transfer amounts in cryptocurrency equivalent are necessary to counter money laundering. For example, remittances in the amount of more than 15 thousand Euros will be checked by law enforcement agencies, and transfers over 1 thousand Euros will be allowed only to verified users.
In addition, local exchangers are required to extend and detail the verification process of their customers. Now, to register on the site of the exchanger, you must provide a full package of documents for personal identification, as well as indicate the place of residence.
In Lithuania, cryptocurrency regulation was tightened. Recall that a football club from Portugal, SL Benfica, began selling tickets for matches for crypto-coins.
Editor: Pereyidenko Ihor