Lithuania seems to be developing into a sort of promised land for crypto-companies. In our experience, it is currently rather difficult for crypto-companies to obtain a bank account in the rest of Europe. The banks are perhaps afraid of the financial supervisory authorities and possible scams (rightfully so). Who knows whether today’s allegedly serious crypto-business will still be accepted by the regulators tomorrow. And if crypto-companies collapse then angry customers could knock at the bank’s door.
In Lithuania, it currently seems to be easier for crypto-companies to obtain bank accounts. We have just learned that the German crypto-MLM system NEXUS GLOBAL is processing its payment services via the Lithuanian payment service provider MisterTango. NEXUS GLOBAL investors are informed in their dashboard that they can now make their FIAT payments for their crypto-mining packages to the NEXUS GLOBAL account at MisterTango which has been granted an appropriate license by the National Bank of Lithuania.
We recently learned that the Bulgarian FINEX LTD, which has been active in the binary options sector and is currently also moving towards crypto, also holds a license as an asset manager in Lithuania. Lithuanian banks obviously bet on risky ventures. This is either brave of the Lithuanian Banking Supervision or extremely innovative. Future will show!