Lithuania clarifies stance on cryptocurrencies
The central bank of Lithuania has issued a statement that the possibility of regulation for digital currencies is being discussed, but no action is likely to be taken as the country monitors other such decisions throughout Europe. The announcement comes two weeks after n warning, issued January 31, against the use of Bitcoin or other digital currencies among Lithuanians. “The main message was that bitcoins are not regulated or supervised by the Lithuanian and European authorities,” a spokesperson for the bank said. “Users and investors should know that they are not protected and their....
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Lithuania is taking cryptocurrency regulation seriously. The institutions of the European Union are urged to expedite the process of regulating cryptocurrencies in consideration of the growing number of crypto-asset service providers in Europe, current global challenges, and the increased risk of money laundering and terrorism financing associated with virtual currencies. In an effort to combat money […]