New recommendations on conducting ICO in Lithuaniawere made public

ICO in Lithuania - new recommendations were published by the Central bank

The Central bank issued recommendations for those tending to organize the initial offering of tokens in such country as Lithuania.

There are two sections contained in this published document.

The second section is entirely devoted to the problems of ICO, but the first section actually prohibits the operation with cryptocurrency to financial regulators and banks.

The sale of cryptocurrency tokens and ICO used to finance the development of a new blockchain networkprovides for a number of national laws that can be applieddepending on the characteristics of the token and the project.

The Central Bank of Lithuania stressed that there is a possibility of laws on money transfers, securities, as well as schemes of collective investment to influence the cases of using blockchain.

The Central Bank of Lithuania also explained that there is no specific regulation for carrying out ICO, which investors and organizers should take into account when planning the launch of projects.

For more detailed information, please contact the lawyers of Law&Trust International.