In Lithuania, it is planned to tighten the cryptocurrency market

"The Lithuanian government intends to tighten the cryptocurrency market," said Mykolas Majauskas, Chairman of the Seimas' Budget and Finance Committee.

 

"We plan to tighten the regulation of cryptocurrencies," Majauskas told BNS on Tuesday after a closed committee meeting discussing the application of international sanctions on Russia and its associates in Lithuania.

 

He said he could not yet say what specific tightening was planned.

 

“The Bank of Lithuania works with the Ministry of Finance and, of course, the FCIS. (...) I cannot say for sure yet, because the laws are still being harmonized (...). Maybe the authorized capital (increase - BNS), maybe some inspections, some additional permits ", the parliamentarian considered.

 

 Vytautas Gapšys told BNS that the cryptocurrency market needs to be monitored more closely, as many companies operating in this field are located in Lithuania, but their regulation is "very simple, therefore it is difficult to ensure security and reliability standards".

 

"And without the war, Latvians and Estonians should have done it a little earlier. Lithuania has become a country where regulation has become simpler and, accordingly, companies have started to look at our market as an opportunity to operate here with a lower regulatory burden, ”said V. Gapšys to BNS.

 

He emphasized that parliamentarians had been informed about the increase in cryptocurrencies in Lithuania by replacing closed channels.

 

According to M. Majauskas, the amendments to the laws envisaging this will be submitted to the Seimas at the spring session.

 

Simonas Krėpšta, a member of the Board of the Bank of Lithuania, said on Tuesday that cryptocurrencies are a potential channel for circumventing sanctions on Russia, although no concrete signals have been received.

 

According to him, strengthening the regulation of cryptocurrencies  would be a good tool "both in regulating the sector in general, but also very relevant in today's context, where it could reduce various risks".

 

VŽ wrote that sanctioned Russians and companies could buy goods or services using cryptocurrencies and sellers would not know that the buyers were from Russia. The US plans to tighten regulation of cryptocurrencies. "

 

“Cash

the day before

even the global money-making machine will be ruined by this spy Majauskas, everywhere the spy has been touching and only more taxes are of no use. You don't adjust the crypto for people, they pack up and change countries where it's convenient and no one points a finger every other week, asking how much money did you make.