A spokesperson for the financial intelligence agency said that as of August 2, the list included both crypto firms popular in the country and their financial intermediaries. The published list includes Spectro Finance and Bitgron, which have so far only received a warning from the FNTT. And BXChange, Kaiser Exchange International, Entara, Stirdena, Hodleris and Katren CD will have to pay a fine of up to €1.1m.
AML violators may appeal to the Vilnius District Administrative Court within one month of receiving the injunction. However, the law enforcement agency clarifies that an appeal does not overturn the regulator’s decision or suspend its enforcement, except in cases of fines or license revocation.
A year earlier, the Lithuanian Ministry of Finance said that amid international tensions and the growth of the crypto industry, the country would introduce new rules for holders of digital assets and adopt the necessary amendments to legislation to combat money laundering.