Gofaizen & Sherle to Help Businesses Scale the New Lithuanian Cryptocurrency Regulations

In light of the strengthened supervision of the cryptocurrency sector by Lithuania, Gofaizen & Sherle, an international legal and management consulting firm based in Europe, has taken the initiative to assist businesses in navigating these new regulations. According to Lithuanian regulators, these new laws will go into effect in November 2022. In addition, the country will prohibit anonymous accounts and establish more stringent requirements for customer identification.

Gofazen & Sherle, which has helped over 500 companies across 30 countries, has a physical presence in Estonia, Lithuania and Germany.

The New Lithuanian Regulations

According to the Lithuanian Ministry of Finance, the national government has approved changes to the country’s anti-money laundering (AML) and counter-terrorism financing regulations that affect the cryptocurrency sector. The newly appro