Despite its previous cautious attitude to crypto, the central bank of Lithuania has declared its intention to establish a productive dialogue between ICO organizers, cryptocurrency holders, local banks and Lithuanian Finance Ministry. To achieve this goal, the central bank held a conference which was attended by representatives of all concerned parties.
Jekaterina Govina, fintech strategy coordinator at the Bank of Lithuania, explained the reason behind the move:
“Blind denial, reluctance to understand and to work with the cryptocurrency world leads nowhere.”
She emphasized the necessity of maintaining communication between banks and ICO organizers. Govina added that the dialog has been established and “it remains to be seen where it will lead us”.
According to regulations in Lithuania, traditional financial services should a prohibited from interacting with crypto assets. Despite this limitation, Lithuania strives to become a new European crypto haven. Earlier this year the Lithuanian Vice-Minister of Economy Marius Skarupskas stated:
“Lithuania and Vilnius have serious intentions to invest into breakthrough in this area and to become a leader on the regional and global scale.”
Blockchain Center Vilnius estimates that Lithuanian projects receive 10% of all global ICO investments.