Lithuanian Government Approves Stricter Crypto Regulations

Lithuania is preparing to revise its Law on Prevention of Money Laundering and Terrorist Financing with the stated goal of ensuring greater transparency and sustainable development for its cryptocurrency sector. This week, the government approved amendments that the small Baltic nation plans to adopt before the upcoming EU regulations.
The new provisions have been prepared by the Ministry of Finance, the Bank of Lithuania, the Financial Crime Investigation Service, the Ministry of Interior, and the Lithuanian Money Laundering Prevention Competence Center. Their main purpose is to further regulate the operations of crypto service providers.
Finance Minister Gintar? Skaist? was quoted by her department as stating that the rapid growth of the crypto market and the emergence of new products require additional attention from the responsible authorities in managing risks, especially those related to money laundering and terrorist financing threats. She elaborated:
Against this background, we are taking proactive steps to strengthen regulation at national level in preparation for subsequent decisions at EU level.
#shorts #cryptocurrency
cryptocurrency, cryptocurrency btt,cryptocurrency ethereum,cryptocurrency shiba inu,cryptocurrencies,cryptocurrencies 2021,cryptocurrencies falling,cryptocurrencies how it works,cryptocurrencies how to invest,cryptocurrencies dogecoin, cryptocurrencies today, cryptocurrencies novices guide, promising cryptocurrencies 2021, news about cryptocurrencies