Lithuania: Parliament Introduces Amendments to Money Laundering and Terrorist Financing Prevention Act VIII-275 for Transposition of 5th AMLD

On May 31, 2019, the Lithuanian parliament (Seimas) passed the draft Republic of Lithuania Cash Flow and Terrorist Financing Prevention Law VIII-275 Articles 2, 4, 7, 9, 10, 11, 19, 20, 25, additional amendments to the Annex and supplementary law of Article 25. The law amends the Money Laundering and Terrorist Financing Prevention Act VIII-275 by implementing provisions for virtual currency exchange operators and custodian wallet service providers, to align the national regime with the provisions of the 5th Anti-Money Laundering Directive (5th AMLD).

The new act will enter into force on January 1, 2020.

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