Lithuania: FNTT investigation into Payeer for alleged violations of sanctions pertaining to virtual currency services and money laundering
Progress
Current status
in force
10 Jul 2024 in force
Scope
Implementers
Lithuania
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Issued ruling in FNTT investigation into Payeer for alleged violations of sanctions pertaining to virtual currency services and money laundering
On 10 July 2024, the Lithuanian Financial Crime Investigation Service (FNTT) issued a ruling imposing around EUR 8.23 million fine on Payeer for violations of international sanctions related to its operation of virtual currency wallet services and …
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
other regulatory body