The Ministry of Finance of Lithuania is preparing amendments on crypto regulation


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Finance Minister of Lithuania Vilius Shapoka said that amendments to the current crypto regulation will appear in 2019.

Summing up the current activity, referring to the statistics from tokendata.io, the minister said that “during the first two months of 2018, the Lithuanian ICO raised $ 249 million, placing Lithuania in third place in the world in terms of attracted capital.”

As examples of initiatives promoting the development of the sector in Lithuania, the Minister noted the launch of the “first international” educational blockchain center in Europe - the Blockchain Center; the forthcoming launch of the “sandbox” by the central bank of the country - LBchain; inclusion of blockchain topics in the curricula of Lithuanian universities; the Ministry conducts international blockchain conferences.

The minister also noted that more and more agencies “include” crypto “in the agenda,” and the state company “Lithuanian Railways” plans to use blockchain-technology to improve the platform for regulating traffic.

Answering the question about unsuccessful projects in the country, the minister noted that the regulatory bodies are also very active here: after the inspection of the Lithuanian start-up of Bankera, the ICO ceased to exist in the jurisdiction of Lithuania, and the central bank fined Pervesk and its CEO for incorrectly assessing the level of risks of its customers .

The main goal of the Ministry of Finance for 2018, Vilius Shapoka, regards the implementation of the plan to provide Lithuania with leadership, as an international center for financial technologies.