The cryptocurrency market is relatively young, but every year its popularity is only growing. Many private investors see cryptocurrencies as a means of investing and storing capital, which entails large cash installments into the industry. Since the sphere of cryptocurrencies is more and more identified with investment instruments and financial markets, this area does not go unnoticed by regulatory institutions and government bodies. The European Union is no exception.
Many EU countries have already begun to develop legislative acts and regulations to regulate the activities of crypto companies. At the moment, the AML directives (4AMLD, 5AMLD) of the European Union do not establish specific requirements with cryptocurrency projects, and based on this, each EU member state has the right to establish its own criteria and requirements for enterprises operating in the field of crypto-currencies.
At the moment, Lithuania is one of the best EU jurisdictions to register crypto exchangers and start working with cryptocurrencies for the following reasons:
1) Lithuania is one of the first countries in Europe that effectively regulates crypto activities at the legislative level
2) clear and transparent requirements for obtaining a cryptocurrency license
3) short terms for obtaining a license compared to other EU countries