Lithuania Release Guidelines to Classify ICOs as Securities

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Under the new guidelines, initial coin offerings (ICOs) conducted in Lithuania following the release of a legal document by the country’s Ministry of Finance. There will now be regulations to state when crypto currencies can legally be classed as a security if it “grants profits or governance rights” to depositors who initially purchase the cryptocurrency.

There could not be legislation released guiding ICOs because of their variable nature, however such activity may be subject to the requirements of the legislation within Lithuania and supervision of the Lithuanian banks.