Once the rules come into effect, any transactions worth over 1,000 ($1,127) involving cryptocurrency be it into or out of fiat or from one cryptocurrency to another will face stringent reporting requirements.
$1,127?
this is a great exaggeration, is the same as saying indirectly that they do not want cryptos in their country... The laws are to create a good environment in society and what they are doing is something against bitcoin and against people who want to buy cryptos . They could ask people to make KYC and could set up an office that would monitor the exchanges and would not need to impose those very disadvantageous rules on anyone who wants to buy cryptos.
Exchanges 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.
1 BTC = $9250
everyone who buys more than 2 BTC the exchanges will be obliged to inform Lithuania's Financial Crime Investigation Service