Bank of Lithuania

35 results about this entity

Period: 10 Dec 2015 - 29 Jun 2023

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Lithuania publishes national fintech guidelines

/startups

Lithuania publishes national fintech guidelines

Lithuania has issued a five-point, five-year plan for its fintech sector as part of its ambition to become one of the EU's leading hubs in the space.

Lithuania revokes licence of former Railsr unit

/regulation

Lithuania revokes licence of former Railsr unit

A former subsidiary of failed embedded banking platform Railsr has had its licence revoked by the Bank of Lithuania over “serious violations” of AML and payments laws.

Lithuania revokes Transactive Systems UAB's licence over AML failures

/regulation

Lithuania revokes Transactive Systems UAB's licence over AML failures

The Bank of Lithuania has revoked Transactive Systems UAB's electronic money institution licence and fined the payments firm €280,000 for "seriously and systematically" infringing anti-money laundering and counter terrorist financing requirements.

Railsr unit faces Lithuanian investigation into money laundering failures

/regulation

Railsr unit faces Lithuanian investigation into money laundering failures

A subsidiary of embedded banking platform Railsr is being investigated by the Bank of Lithuania over concerns it has been "grossly and systematically" violating money laundering and terrorist financing laws.

/regulation

Bank of Lithuania to apply stricter controls on fintech access to payment system

In 2020, the number and value of payments made through CENTROlink – the Bank of Lithuania’s payment system – doubled, while instant payments increased by more than four times.

/crime

Lithuanian Government gives green light to the Centre of Excellence in Anti-Money Laundering

Yesterday, a unique public-private cooperation project initiated by the Bank of Lithuania was given a green light, when the Lithuanian government approved the establishment of the Centre of Excellence in Anti-Money Laundering.

/crime

Bank of Lithuania calls for a uniform EU-level approach to fight money laundering

According to the Bank of Lithuania, harmonisation of rules and requirements throughout the European Union (EU) would help to enhance anti money laundering (AML) and counter terrorist financing (CTF) efforts in an effective manner, eliminate existing regulatory fragmentation and ensure a unified European approach.

/regulation

Bank of Lithuania: Progress of financial innovations requires equal treatment at EU level

In response to the European Commission’s consultations on the development of the digitalisation of financial services in Europe, the Bank of Lithuania proposes to apply uniform regulation throughout the European Union (EU), following a technologically neutral approach, and applying smart supervisory solutions more widely.

Bank of Lithuania to issue Virtual LBCOINs

/crypto

Bank of Lithuania to issue Virtual LBCOINs

The Bank of Lithuania is to issue a batch of virtual and physical blockchain-based collector coins from a purpose-built e-shop from next month.

/regulation

Bank of Lithuania issues guidelines on opening accounts for electronic money and payment institution

The Bank of Lithuania prepared and approved its position on the right of electronic money institutions (EMIs) and payment institutions (PIs) to access bank accounts opened with credit institutions.

Bank of Lithuania tests API-based RegTech prototype

Bank of Lithuania tests API-based RegTech prototype

Lithuania's central bank has tested a RegTech prototype which uses Open Banking APIs to automate reporting obligations for financial services firms.

/regulation

Lithuania lay claims to second largest fintech hub in Europe

The Fintech Landscape in Lithuania report, a yearly study providing a snapshot of Lithuania’s Fintech sector, was released.

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