The Central Bank of Lithuania is taking a firm stance on cryptocurrency regulation as the deadline for licensing approaches. Dalia Jukeviėn, the head of the Investment Services and Undertakings Supervision Division, has issued a strong reminder to crypto service providers to secure their licenses before the end of the year. The analytical report published in the material substantiates the following: timely compliance is crucial for the sustainability of crypto businesses in the region.
Importance of Compliance with New Regulations
In her recent statement, Jukeviėn highlighted the importance of compliance with the new regulations, warning that non-compliance could result in criminal liability for firms. This underscores the bank's commitment to ensuring a regulated and secure environment for cryptocurrency operations in Lithuania.
Communication with Clients During Transition
Additionally, Jukeviėn urged companies that do not intend to continue their operations to proactively communicate with their clients. She emphasized the necessity of informing clients about the winding down process and ensuring that all client assets are returned in a timely manner, reinforcing the bank's focus on consumer protection during this transitional period.
As the Central Bank of Lithuania emphasizes the importance of compliance in cryptocurrency regulation, the market sees significant developments with Hyperliquid and Stellar. For more details, visit read more.
