Lithuania

Amidst rapid digitization of the world, central banks are making efforts to keep pace. Nevertheless, while Asian countries such as China have been actively developing its Central BankDigital Currencies, Europe has been cautiously exploring it. But now it seems the continent will see its first CBDC as soon as this week.

The Bank of Lithuania (BoL) is working on the development of a blockchain platform to support the non-financial sector. As per the report by Europe World News, the BoL unveiled that it has successfully completed the blockchain-powered sandbox ‘LBChain’ initiative.

One of the largest convenience store chains, Narvesen, and Lietuvos spauda kiosks have begun trading Bitcoin vouchers in Lithuania. These coupons can be easily exchanged by customers to Bitcoin on the Internet without ID verification.

The Ministry of Finance of the Republic of Lithuania has announced on Wednesday, June 6, brand-new guidelines regulating the country’s crypto market. They consist of four main parts, namely regulation, taxation, accounting, and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT).

Coin Idol TV News channel broadcasting a new video digest on April 20. Today in our digest: NASA initiates Ethereum blockchain technology research for space communications and navigation, Kraken set to quit the Japanese cryptocurrency market, Lithuania plans to allow the activity of virtual limited liability companies, IMF Chief Christine Lagarde has supported the implementation of cryptocurrency.

Virtual Limited Liability Companies (VLLCs) working on blockchain technology will be launched in Lithuania. The country considers the possibility of allowing entities from different parts of the world to register and operate their fintech companies there. A draft has been already processed by the Lithuanian Centre of Registers.

Coin Idol TV News channel digest on April 4 features the following topics from the world of Blockchain and crypto currency: Kazakhstan plans to ban Bitcoin tradings, fashion store in Lithuania to accept Cryptocurrencies

Lithuania is confidently keeping pace with the newest trends in the global financial market. United Colors of Benetton implemented in their Lithuanian franchise a new payment option, which includes digital currencies such as bitcoin, ethereum, dash, steem, and many others, as a recently released video showed.

The bank of Lithuania announced on Tuesday its determination to release a new cryptocurrency in order to celebrate the hundredth anniversary of the country. For developing a crypto coin, the blockchain technology or other similar software programs will be used.