Lithuania Greenlights Crypto Turnover
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Feb. 20, 2019
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The Board of the Bank of Lithuania has updated its position regarding digital assets and Initial Coin Offering (ICO), The Baltic Course reports.

According to the updated position, Lithuania allows creating investment funds intended for professional investors that would invest in digital assets.

However, participants of the financial market still have no right "to participate in activities or provide services associated with virtual assets," The Baltic Course cites the bank’s statement. Moreover, they must ensure the separation of financial activities from activities associated with cryptos.

Despite the prohibition for the traditional financial market participants to receive crypto-payments, the updated position allows the possibility of using third-party services to accept the payments.

Previously, the bank announced it may issue the world’s first digital numismatic coin.

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