❗ Government of the Republic of Lithuania has approved the amendments to the Law on the Prevention of Money Laundering and Terrorist Financing. The drafted bill is scheduled to be submitted to the Parliament of the Republic of Lithuania.
Key amendments:
📌Required capital of EUR 125k
📌KYC starting at EUR 700
📌“Travel” rule from year 2025
📌Restrictions on senior employees working at multiple companies
Response Legal contributed to the discussions and provided comments on the amendments. The drafted bill is aimed at strengthening the management of money laundering risks and ensuring further sustainable development of the cryptocurrency sector 👇