Lithuanian Government Approves Stricter Crypto Regulations
The government in Vilnius has approved amendments introducing more stringent regulations for the country’s growing crypto space. The legislation is aimed at managing risks associated with crypto assets and preventing Russian attempts to circumvent Western sanctions imposed over the war in Ukraine. Lithuanian Authorities to Tighten Rules for Crypto Industry Lithuania is preparing to revise its Law on Prevention of Money Laundering and Terrorist Financing with the stated goal of ensuring greater transparency and sustainable development for its cryptocurrency sector. This....
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The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies.
Authorities in Tallinn Draft Stricter Rules for Crypto Service Providers
The executive power in Estonia has prepared and approved draft legislation designed “to more effectively regulate virtual asset service providers....
The government of Iran has finalized a set of cryptocurrency regulations. A “comprehensive and detailed” law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said. Iran Finalizes Crypto Regulations The Iranian government has evaluated all issues relating to cryptocurrencies and approved a set of cryptocurrency regulations, Reza Fatemi-Amin, the minister of Industry, Mines, and Trade, told reporters at the conclusion of an automotive industry event in Tehran....
PRESS RELEASE. In light of the strengthened supervision of the cryptocurrency sector by Lithuania, Gofaizen & Sherle, 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. Gofazen & Sherle, which has helped over 500 companies across 30 countries, has a physical presence in....
Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government Seeks International Help to Monitor International Crypto Exchanges According to Chosun, the South Korean Government met with politicians, law enforcement, and financial watchdog authorities to take down illicit transactions from what they named an “overheated market.” The meeting was....
Crypto-friendly SEC Commissioner Hester Peirce called for nuanced cryptocurrency regulations as several agencies pursue stricter policy mandates. Hester Peirce of the United States Securities and Exchange Commission has once again urged regulators to take a step back from attempting to overregulate the crypto space.Speaking to Financial Times, Peirce, affectionately dubbed “Crypto Mom” due to her positive stance on cryptocurrencies, argued against the need for strict regulatory policies.According to Peirce, regulators by nature often have a knee-jerk reaction to emerging market spaces....