Cryptocurrency News
Lithuania aims to tighten crypto regulation and ban anonymous accounts
2022.06.09 16:31
Lithuania aims to tighten crypto regulation and ban anonymous accounts
In its efforts to fight money laundering risks and the possible schemes of Russian elites circumventing financial sanctions, the 2.8-million nation of Lithuania is planning to tighten its scrutiny over crypto.
As the local Ministry of Finance announced on Wednesday, June 8, various ministries of the Lithuanian government approved legal amendments to anti-money laundering (AML) and countering the financing of terrorism in the crypto sector. The amendments to the current law — should they later be approved by the Seimas, Lithuania’s legislature — would stiffen the guidelines for user identification and prohibit anonymous accounts.
