LTH PRL Financial Institutions Law

On Jul. 24, LTH PRL issued law making amendments re crypto assets.

  • LTH PRL published Law XIV-2882 of Jul. 11, 2024, amending art 3 and appendix of the Law IX-1068 of Sep. 10, 2002 on financial institutions.
  • Follows LTH MoF Jul. 2024, regulatory changes for crypto sector, see #219861.
  • Amendments
  • This law is the 33rd legal text amending the initial Law IX-1068; scope expanded to e-money and tokens, asset-linked tokens, crypto asset services; annex references.
  • Effectiveness
  • Law applies on Jul. 25, 2024; part 3 of art 1 will enter into force on Dec. 30, 2024.

Regulators LTH PRL
Entity Types B/D; Bank; IA; Ins
Reference OG 2024-13488, 7/24/2024; Law XIV-2882, 7/11/2024; Law IX-1068, 9/10/2002; MiCA Reg 2023/1114; FinTech
Functions Compliance; Financial; Legal; Operations; Reporting; Risk; Technology; Treasury
Countries Lithuania
Category
State
Products Banking; Cryptocurrency; Fund Mgt; Insurance; Securities
Regions EMEA
Rule Type Final
Rule Date 7/24/2024
Effective Date 12/30/2024
Rule Id 220887
Linked to Rule :219861
Reg. Last Update 7/24/2024
Report Section EU

Last substantive update on 07/30/2024