• Days
  • Hours
  • Mins
  • Secs
  • Mon, 21 Oct 2019, 07:21 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Lithuania to require ID checks for crypto services

Bitcoin.Max Pixel/Max Pixel

Sat, 15 Jun 2019, 02:38 am UTC

Anonymity is one of the biggest selling points of blockchain and cryptocurrency, but it would appear that this is about to change in for Lithuanians.

Businesses in the country will soon be required to perform background checks on customers wishing to transact using digital currency, Coin Telegraph reports. How strict the requirements are corresponds to the amount of crypto involved.

The restrictions will begin at €1,000 ($1,127), with withdrawals of €15,000 ($16,919) or more requiring businesses handling the transaction to immediately report it to the Financial Crime Investigation Service.

If the new movement gains steam, other countries could soon follow suit.

Earlier on in the month the FATF (Financial Action Task Force) said it would release a note to clarify how participant nations should manage the digital assets sector.

Crypto companies in the US are fighting hard to make sure that such stringent methods are not applied. Ultimately, however, the decision will be up to the federal government.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,226.48 (+0.55%)
  • Ethereum (ETH) $174.13 (-0.54%)
  • XRP (XRP) $0.292400 (-0.04%)
  • Bitcoin Cash (BCH) $231.14 (+3.02%)
  • Litecoin (LTC) $54.61 (-0.41%)
  • Bitcoin (BTC) $8,226.48 (+0.55%)
Oct 21, 2019 (Monday)
11:50
Crypto Technicals: LTC/USD halts downside at strong trendline support, breakout above 21-EMA to confirm near-term upside
11:12
Crypto Technicals: XMR/USD edges above 21-EMA, technical bias turning bullish
07:57
Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation
06:18
Crypto Technicals: ETH/USD struggles to extend gains, finds stiff resistance at 179
04:55
Crypto Technicals: BTC/USD pauses upside at 21-EMA (8326), break above to buoy Bitcoin bulls
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft