As per the announcement published on Feb. 14, the recent document does not illustrate any changes to its underlying principles. However, it still stressed that financial market participants (FMP) should separate their financial services activities from those associated with virtual currency and should not participate in activities or provide services associated with virtual assets.
In a seminar held in last October, the Lithuanian regulators examined the “threats and potential benefits” of ICOs to the country’s economy. It was then outlined that a high ICO turnover volume of €500 million ($567 million) over the previous eighteen months, necessitated for tougher anti-fraud mechanisms. It was further noted
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