Adan travels to Lithuania to meet the local crypto ecosystem

1
10
2020
Adan travels to Lithuania to meet the local crypto ecosystem
Adan travels to Lithuania to meet the local crypto ecosystem

Invited by the French Embassy of Lithuania, the Adan went to Vilnius to meet his local counterparts at the Economic Forum organized on the occasion of President Macron's official visit.

In this context, we were able to exchange with :

  • The Lithuanian crypto association, with which we have been able to coordinate our actions at European level, particularly with regard to the draft European regulation put forward by the Commission;
  • A representative of the Central Bank of Lithuania; who was able to present the favourable environment for innovative players that the country is creating, in particular by opening accounts directly with the Central Bank, or by providing assistance in implementing appropriate KYC-AML procedures. He also presented the experimental initiative of "LBCOIN" issued on a public blockade.
  • Numerous potential partners for Adan members: financial infrastructure providers, KYC-AML analysis tools, consulting firms, etc.

Lithuania and the other Baltic countries (Estonia and Latvia) offer a particularly favourable environment for innovation, and have a longstanding sensitivity to the block and digital assets. Compared to France, private players and the Central Bank seem to have better integrated the long-term challenges of these assets. On the other hand, these countries do not yet have regulations adapted to these assets, and a certain distrust of private players is to be deplored. Collaboration between French and Lithuanian players therefore seems potentially fruitful. The Commission's proposal will open the door to a common market - the European digital asset industry must therefore be structured.