On Jan. 21, LTH PRL issued amendment to law on payment services.
LTH PRL amended (Law XV-109), arts. 188-4 and 589, code of administrative offenses.
Follows LTH PRL Jun. 2024, amended the payments law, see #216754.
Failure to Comply Offenses
Failure to comply with the requirements established for payment service providers in Lithuanian Law on Tax Administration, Law on Gambling, and Law on Lotteries.
Not complying with execution of instructions given on the basis of these laws shall entail a fine for managers of legal entities or other responsible persons.
Fine will be from one thousand, eight hundred to three thousand, eight hundred euros.
Effectiveness
Law comes into force on May 1, 2025.
In Jan. 22, 2025, LTH PRL issued law AML measures in Gambling Law, see #241439.
Regulators
LTH PRL; LTH Tax
Entity Types
Bank; CNSM; CU; MSB
Reference
OG TAR, 2025/694, Reg 2025-00694, Law XV-109, 1/21/2025; Citation: Law XV-109;
