Lithuania is anticipating the EU with its new crypto law - and some businesses fear hasty action could wreck the country's sector. jackschickler reports
EU Commission Favors Ban on Large-Scale Stablecoins, Document Shows
“For both the government and market participants, the worst-case scenario would be to have some sort of a bad situation, some sort of scandal in terms of money laundering or circumventing sanctions,” he said. “Reputation is an essential resource in this line of business.”Like regulators in Estonia, Liutvinskas says he welcomes sound companies, but not empty shells that merely register in the country but operate from elsewhere.and will be presented to parliament in early summer.
“VASPs in other jurisdictions will not have the same obligation for data sharing which makes it close to impossible to transact with them,” she told CoinDesk in an email. And the lack of an equivalent to the banking-sector messaging service SWIFT means information may not be secure, she said.She says she supports measures to make markets more transparent and trustworthy, but not those that kill innovation or the ability to compete.