{"id":951,"date":"2022-08-04T11:02:10","date_gmt":"2022-08-04T11:02:10","guid":{"rendered":"https:\/\/response-legal.lt\/?p=951"},"modified":"2023-01-26T11:29:16","modified_gmt":"2023-01-26T11:29:16","slug":"response-legal-provided-written-comments-on-the-draft-law-prepared-by-lithuanian-institutions-towards-stricter-crypto-business-regulation","status":"publish","type":"post","link":"https:\/\/response-legal.lt\/en\/response-legal-provided-written-comments-on-the-draft-law-prepared-by-lithuanian-institutions-towards-stricter-crypto-business-regulation\/","title":{"rendered":"\u00a0Response Legal\u00a0provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation"},"content":{"rendered":"<p>\u2757\u00a0<strong>Response Legal\u00a0<\/strong>provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation.<br \/>\nKey points brought by Response Legal:<br \/>\n\u2714 The increase in share capital of crypto-asset service providers should be phased in and balanced with the European MiCA regulation<br \/>\n\u2714 Crypto-asset service providers should not be required to perform diligent KYC from 0 EUR<br \/>\n\u2714 Requirement for managers to have a residence in Lithuania and the requirement for MLRO to have a chair exclusively in one crypto-asset service provider is too strict.<br \/>\nFYI: The Ministry of Finance, together with the Bank of Lithuania, the Financial Crime Investigation Service, and the Centre of Excellence in Anti-Money Laundering, has drafted amendments to the Law on Prevention of Money Laundering and Terrorist Financing (\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=aml&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"2\">#AML<\/a>).<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=aml&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"3\">#aml<\/a>\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=crypto&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"4\">#crypto<\/a>\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=cryptocurrency&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"5\">#cryptocurrency<\/a>\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=responselegal&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"6\">#ResponseLegal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2757\u00a0Response Legal\u00a0provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation. Key points brought by Response Legal: \u2714 The increase in share capital of crypto-asset service providers should be phased in and balanced with the European MiCA regulation \u2714 Crypto-asset service providers should not be required to perform diligent [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[64],"tags":[],"class_list":["post-951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-currency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u00a0Response Legal\u00a0provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation - Response Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/response-legal.lt\/en\/response-legal-provided-written-comments-on-the-draft-law-prepared-by-lithuanian-institutions-towards-stricter-crypto-business-regulation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u00a0Response Legal\u00a0provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation - Response Legal\" \/>\n<meta property=\"og:description\" content=\"\u2757\u00a0Response Legal\u00a0provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation. Key points brought by Response Legal: \u2714 The increase in share capital of crypto-asset service providers should be phased in and balanced with the European MiCA regulation \u2714 Crypto-asset service providers should not be required to perform diligent [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/response-legal.lt\/en\/response-legal-provided-written-comments-on-the-draft-law-prepared-by-lithuanian-institutions-towards-stricter-crypto-business-regulation\/\" \/>\n<meta property=\"og:site_name\" content=\"Response Legal\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-04T11:02:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-26T11:29:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/response-legal.lt\/wp-content\/uploads\/2023\/01\/CRYPTO-e1674730822670.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"861\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"info\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"info\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/response-legal.lt\/en\/response-legal-provided-written-comments-on-the-draft-law-prepared-by-lithuanian-institutions-towards-stricter-crypto-business-regulation\/\",\"url\":\"https:\/\/response-legal.lt\/en\/response-legal-provided-written-comments-on-the-draft-law-prepared-by-lithuanian-institutions-towards-stricter-crypto-business-regulation\/\",\"name\":\"\u00a0Response Legal\u00a0provided written comments on the draft law prepared by Lithuanian institutions towards stricter crypto business regulation - 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