Lithuania Cracks Down on Cryptocurrency Industry

Lithuanian authorities want to have the details of cryptocurrency transactions processed by local operators. Just to make sure they are not used for money laundering purposes.

On Wednesday, June 12, the Lithuanian Cabinet of Ministers approved amendments to Anti-Money Laundering and Counter-Terrorism Financing Law prepared by the Ministry of Finance. The law covers the fifth EU Anti-Money Laundering Directive (AMLD 5) and recommendations of the International Organization for the Prevention of Money Laundering that was approved last year, while the new amendments include companies engaged in cryptocurrency-related business into the scope of the law.

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#Lithuania #Regulations

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