Lithuania is preparing new rules to govern [blank] transactions, requiring businesses to prove the identity of clients,
Once the rules come into effect, any transactions worth over 1,000 ($1,127) involving [blank] be it into or out of fiat or from one [blank] to another will face stringent reporting requirements.
[blank] or similar businesses will have to gather identity information about the buyer, while large operations over 15,000 ($16,919) will oblige them to inform Lithuanias Financial Crime Investigation Service.
remove cryptocurrency and bitcoin from this news (i placed [blank] in their place) and you can see this is not new for any country. this has been going on for as long as Anti Money Laundry laws existed. the law forces businesses to report any money transfer that is higher than a certain value specially when it is a place of trading like an exchange where money keeps going in and out with large volumes.