Quote from: samdan777712 on June 19, 2019, 08:12:15 PM

Lithuania is preparing new rules to govern cryptocurrency transactions, requiring businesses to prove the identity of clients, local daily news outlet Delfi reported on June 12.

As part of its obligations to impose European Union anti-money laundering (AML) regulations, Lithuanias finance ministry will seek to completely formalize crypto-based exchange operations.

Parliament approved the move during a sitting on Wednesday, Delfi says, while a time frame remains uncertain for implementation.

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.

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.

https://cointelegraph.com/news/lithuania-to-regulate-cryptocurrency-exchange-sector-with-obligatory-id-checks

This is shows that some of the government country want to full in control of Crypto currency to their own territory, and for them to make it happen, they must regulate in first, and in some other aspects it can help to avoid scammers or hacker. This is actually, anticipated already, because here in my country one of our government agency here already approved more than 40 exchanges that accept digital or crypto currency including bitcoin.

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