The Lithuanian Parliament has approved the draft Law on Crypto-Assets Markets, a significant step towards regulating cryptocurrency activities in the country.
Here's what the new legislation entails: https://lnkd.in/gBCMcbF2
• The transitional period until regulation under MiCA extends until June 1, 2025.
• Regulation of Crypto-Assets: Ensuring fair, transparent, and efficient functioning of cryptocurrency markets.
• Licensing Requirements: Setting stringent criteria for token issuers and cryptocurrency service providers.
• Governance Standards: Establishing robust rules for the management of crypto-related entities.
• Financial Reporting Obligations: Mandating clear requirements for financial audits and reporting.
Aligned with EU regulations (Regulation (EU) 2023/1114), the law prioritizes consumer protection, market stability, and compliance with financial laws. It aims to create a stable, reliable, and secure environment for cryptocurrency activities in Lithuania and beyond.
🌐 To learn more about this legislation, please contact our legal team. We're here to provide guidance and answer your questions
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