An influx of hundreds of cryptocurrency exchanges and the approach of new, onerous, EU-wide rules for them and other virtual asset service providers has prompted Lithuania to rethink how to supervise such businesses, including for anti-money laundering purposes. The EU's markets in crypto-assets regulation, or MiCA, widely seen as the world's first comprehensive framework for subjecting virtual asset service providers, or VASPs, to rules designed to ensure financial stability, prevent market abuse and safeguard investors, will enter into force in December 2024 after securing adoption in June of this year. On Friday, senior officials in Lithuania, where hundreds of VASPs...
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