Gofaizen & Sherle to Help Businesses Scale the New Lithuanian Cryptocurrency Regulations
, an international legal and management consulting firm based in Europe, has taken the initiative to assist businesses in navigating these new regulations. According to Lithuanian regulators, these new laws will go into effect in November 2022. In addition, the country will prohibit anonymous accounts and establish more stringent requirements for customer identification.
According to Lithuania’s Finance Minister, Skaiste, the country decided to update its regulations in response to recent events in the region, particularly the ongoing military conflict in Ukraine. The new rules, which went into effect on June 15, required Estonian crypto companies to meet new transparency requirements; they can no longer have anonymous accounts and must have at least €100,000-250,000 in capital.
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