In the present Bulgarian legal framework, cryptocurrencies (Bitcoin, altcoins) are still perceived, audited and declared before NRA (National Revenue Agency) as a financial asset. Their legal status got some development with the amendment to the Anti-money Laundering Act (AML Act) from November 2019. Generally, its importance, which we have discussed here, is in the following three…
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A Quick Guide to Estonia’s Crypto License and New Requirements
In 2017, Estonia became amongst the first countries in Europe to provide a legal framework for business activities involving virtual currencies. Since then, the Baltic country has emerged as a preferred destination for crypto entrepreneurs to launch their businesses. In a space of three years, Estonia licensed more than 1,400 entities, but as part of…
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Lithuanian Paysera Raises Its Authorised Capital to € 7 Million
Paysera, a Lithuanian payment processor with a dominant presence in the Baltics, has raised its authorised capital from EUR 3 million up to EUR 7 million. The capital was raised from the accumulated profit. Vytenis Morkūnas “Paysera has become a well-known financial partner in the Baltic region and Central Europe, and also beyond the European borders. Its…
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European Central Bank Grants Sixth Specialised Bank License to Crius LT, UAB
The European Central Bank (ECB) granted its sixth specialised bank license to Crius LT, UAB following the assessment and proposal of the Bank of Lithuania. The main difference between a specialised and a full-range bank is that the former is not authorised to provide investment services. The opportunity to establish a specialised bank was introduced in…
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