{"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\" target=\"_blank\" rel=\"noopener\">#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\" target=\"_blank\" rel=\"noopener\">#aml<\/a>\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=crypto&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"4\" target=\"_blank\" rel=\"noopener\">#crypto<\/a>\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=cryptocurrency&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"5\" target=\"_blank\" rel=\"noopener\">#cryptocurrency<\/a>\u00a0<a href=\"https:\/\/www.linkedin.com\/feed\/hashtag\/?keywords=responselegal&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6918098123235999744\" data-attribute-index=\"6\" target=\"_blank\" rel=\"noopener\">#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":[],"_links":{"self":[{"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/posts\/951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/comments?post=951"}],"version-history":[{"count":10,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/posts\/951\/revisions"}],"predecessor-version":[{"id":971,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/posts\/951\/revisions\/971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/media\/964"}],"wp:attachment":[{"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/media?parent=951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/categories?post=951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/response-legal.lt\/en\/wp-json\/wp\/v2\/tags?post=951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}