Lithuania plans to implement a new licensing process for crypto companies, leading to fewer firms securing full permits by June 2025.

Lithuania, a European FinTech hub, plans to crack down on crypto companies by implementing a new licensing process, with fewer firms expected to secure full permits. Central bank board member Simonas Krepsta said the process, set to wrap up by June 2025, will lead to unsuccessful applicants leaving the ecosystem. The move follows concerns about the potential use of crypto assets for money laundering and investor fraud.

April 03, 2024
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