Anton Zoldak

#Insightscrypto government regulation in Lithuania #micar Legal companies that intend offer crypto-asset services in the Union must submit their application for authorization to the competent authority. A company that intends to provide crypto-asset services must present certain documents to the Bank of Lithuania before the start of these activities. Crypto-asset services must present certain documents to the Bank of Lithuania: 1.    CASP’s identity and address; 2.    Articles of association; 3.    Information on shareholders; 4.    Governance arrangements; 5.    Information on management; 6.    Program of operations; 7.    Information on crypto – assets serviced; 8.    Complaints handling procedure; 9.    Prudential safeguarding policies; 10. Internal control and AML/CFT procedures ICT (Information and Communications Technology) security procedures are a set of rules and guidelines that outline the steps that should be taken to protect an organisation's ICT systems and infrastructure from security threats and vulnerabilities; 11. ICT-related procedures and systems; 12. Policies and procedures. +The requirements for CASPs are set out in Regulation (EU) 2023/1114 (MiCAR) Crypto-asset service provider (CASP) – a legal company or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is accordingly allowed to provide crypto-asset services. These services could be: 1.    Exchange of crypto-assets for funds; 2.    Exchange of crypto-assets for other crypto-assets; 3.    Operations of a trading platform for crypto-assets; 4.    Execution of orders for crypto-assets on behalf of clients; 5.    Custody and administration of crypto-assets on behalf of clients; 6.    Reception and transmission of orders for crypto-assets on behalf of clients; 7.    Transfer services for crypto-assets on behalf of clients; 8.    Providing advice on crypto-assets; 9.    Portfolio management on crypto-assets; 10. Placing of crypto-assets. A legal company that intends to provide crypto-asset services must present certain documents to the Bank of Lithuania before the start of these activities and receive a licence from the Bank of Lithuania. Approval of the new business plan by the competent authority Within 20 working days of receiving a notification, the competent authority assesses whether all required information has been provided. 

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🌟 𝗔𝗻𝗼𝘁𝗵𝗲𝗿 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗳𝗼𝗿 𝗟𝗮𝘁𝘃𝗶𝗮 - 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗶𝗻 𝗖𝗿𝘆𝗽𝘁𝗼-𝗔𝘀𝘀𝗲𝘁𝘀 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 (𝗠𝗶𝗖𝗔) 🌟 The Markets in Crypto-Assets Regulation (MiCA) by the EU opens new horizons for Latvia, positioning us as a leader in the crypto industry. With our strong fintech sector, supportive institutions like The Latvian Blockchain Association (LBAA), Fintech Latvia Association , Magnetiq Bank, and a favorable regulatory environment, Latvia is set to attract crypto entrepreneurs and drive economic growth. By leveraging our expertise and infrastructure, Latvia can become a top hub for crypto innovation in Europe.🚀 Let's work together to seize this opportunity and showcase Latvia's potential!🚀 #Crypto #Fintech #Latvia #MiCA #Innovation #Blockchain #Entrepreneurship #Regulation https://lnkd.in/drWQki4w

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The opening of Orange Polska's deregulated fibre-optic access network is an important step, demonstrating the maturity of the Polish telco market. Historically unimaginable (we all remember how much T-Mobile had to pay upfront for the privilege of priority of access to a part of these resources...) has become a fact. Bravo Orange Polska for forward-looking approach! Less overlapped investments mean better health for the whole sector. https://lnkd.in/dyRbnYCs

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#MiCAR Lithuania In preparation for the licensing process • Issuers seeking a license will be required to obtain a national security compliance determination the interests of the Republic of Lithuania in order to ensure the national security of important objects protection law (the legal act has not yet been amended). The Bank of Lithuania will seek to ensure that mature people enter the crypto-asset market and the risk of this business is excellent knowledgeable market participants. •  Licensing fees will need to be paid before the license is issued, and maintenance fees after the license is issued. Specific fees and contributions will be established in legal acts and in the relevant resolutions of the Board of the Bank of Lithuania, which are currently being changed and which will be are published publicly. The Bank of Lithuania will strive for a smooth and efficient licensing process, which, above all, will depend on the preparation of the applicants and the quality of the prepared applications. • The Bank of Lithuania expects that applicants, before submitting an application to the Bank of Lithuania for a license issuing, will first critically assess their competence, knowledge and readiness to carry out the planned activities, will be well acquainted with the applicable legal acts, including MiCAR and its supplements technical standards (RTS), guidelines and recommendations. • Applicants must be adequately prepared to ensure a smooth process throughout the licensing process communication with the Bank of Lithuania (including the proper provision of documents and information) and be able to allocate sufficient resources to effectively eliminate deficiencies in applications identified by the Bank of Lithuania. • The Bank of Lithuania will not tolerate improper preparation of the applicant for the licensing process, manipulation application evaluation process, and incomplete, incorrectly prepared or submitted  applications will not be accepted for detailed examination. • For applicants who do not provide the requested information, provide incomplete, incorrect or partially correct information, misleading information, will not cooperate with the Bank of Lithuania or other competent supervisory authorities institutions, activity permits will not be issued.

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On June 18th, I’ll be attending the SCI Emerging Europe SRT Seminar in Warsaw. One of the panels I’m particularly looking forward to is "Investor appetite for CEE SRT transactions: Investor perspective." The CEE region is brimming with potential, offering high-quality asset pools and significant growth opportunities for investors. This panel will delve into key topics, including: - Comparing CEE vs. Developed Markets: How do investors assess transactions in CEE compared to more mature European countries and the US? - Currency Considerations: The importance of currency hedging when investing in smaller CEE jurisdictions. - Role of MDBs: How institutions like the EBRD, EIF, and IFC are shaping the CEE SRT market. We are eager to hear insights from industry experts, including: Som-lok Leung, International Association of Credit Portfolio Managers (IACPM) (Moderator) Joanna M. Kosek, Christofferson Robb & Company Konstantin Karchinov, CFA, Veld Capital Ruairi Neville, Arch Insurance (EU) dac Philippine Galtier, CFA, IFC - International Finance Corporation If you're interested in the evolving landscape of SRT transactions in the CEE region, this is a discussion you won’t want to miss! https://lnkd.in/e6zcyyNK

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#Lithuanian startup Kloosive has raised investment from Startup Lithuania Accelerator powered by Plug and Play Tech Center. The amount of the investment has not been disclosed. Founded in #Vilnius in 2023 by Viktorija Ramanauskaite, Linas Ziogas, and Lukas Biliūnas, Kloosive has developed an automated solution that integrates artificial intelligence, manual processes, and an interactive widget. The solution is designed for people with vision impairments, motor disabilities, and ADHD to improve their experience while using websites, web applications, and mobile apps. The startup’s technology scans web pages, makes the necessary changes, and generates accessible HTML. People with visual impairments can modify the design and user interface of a website to meet their specific accessibility needs and comply with key standards, such as WCAG (web content accessibility guidelines), AODA, ADA, and EAA. For example, users with color blindness can adjust color settings, while others can control font size, change font style, adjust line spacing, highlight headings, pause animations, and more, making digital content more inclusive and accessible. Founded in 2006 by Saeed Amidi, Plug and Play runs more than 60 acceleration programs a year, graduating more than 2.5K startups. In 2023, Plug and Play launched the Startup Lithuania Accelerator and announced that it would invest €5,9M in 45 Lithuanian startups during the next three years, and at least €30K per each startup. All about Baltic startups and VC https://balticvc.com/ #Lithuania #Vilnius #tech #technology #technologies #TechnologyNews #VC #VCs #deal #deals #startup #startups #TechNews #software #WCAG

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📢 Our #expert, Dorota Wysokińska-Kuzdra will be participating in the discussion: “Poland - CEE’s Safe Haven but Inbound Capital’s Most Undervalued Market?” at the CEE GRI 2024 Conference. 🗓️ Date and Time: June 5th, 16:30 CEST (GMT+2) 📍 Venue: Raffles Europejski Hotel, Warsaw 🔍 Key Discussion Topics: -Asset Classes: Explore how PRS (Private Rental Sector) and logistics are leading investment deals. -Cross-border Capital: Is foreign capital ready to come back to the game? -ESG (Environmental, Social, and Governance): It’s time to turn words into actions. -Refurbishment & Repurposing: Discover the best strategies to create value in obsolete properties. 🎙️ Speakers: Pawel Tonski, President of the Board, Polish Chamber of Commercial Property (PINK) Renata Mc Cabe - Kudla, Country Head, Grupo Lar Sebastian Kiec, CEO AFI Europe Poland, AFI Europe Waldemar Wasiluk, Victoria Dom The session will be moderated by Piotr Szafarz, Partner, Head of Real Estate in Poland and CEE, Dentons. 🌍💡Don’t miss this chance to have a chat with Dorota to gain knowledge on investment cycles, economic outlook, location vs. asset value, pricing, and demand across the CEE region. #RealEstate #CEE #InvestmentOpportunities #ColliersEMEA #GRIclub 

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The Czech Research team announced Market Figures for Q1 2024, which present the latest numbers and trends for Prague Offices, Czech Republic Retail, Industrial & Logistics and Investment markets. Click & download our report for more detailed analysis ▶️ https://lnkd.in/dDdRmda6 or speak to our Head of Research, Jana Prokopcova. #CBREResearch #CzechRealEstateMarket #RealEstateMarketFigures

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Let's talk numbers – Banker panel at #CEEPropertyFinancingUpdate in Warsaw at the CMS Poland office Martin Erbe (Helaba), Hubert Manturzyk, MRICS (Aareal Bank AG), Peter Szamely (HYPO NOE Landesbank für Niederösterreich und Wien AG), Hannes Wimmer (Erste Group), Csanad Csuros #realestatefinancing #propertyinvestment #realestateinvesting #realestatetrends

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Investment fund in the Czech Republic from scratch Advantages and features: - There are no requirements for the citizenship of the director/founder - There are no requirements for professional skills and education of management company managers - No requirements for authorized capital - No exchange controls - A large number of international treaties against double taxation - Investor assets transferred to trust management can be of any form (cash, securities, real estate, cryptocurrencies, etc.) - The ability to target the fund for any type of activity - there are no restrictions on the types, forms and territories of investment of attracted assets. - There is no mandatory requirement to work through a depository - Protection of investor rights - supervisory functions of the CNB Timeframe: from 1 month Price: 45 000 EUR

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📢 𝘓𝘢𝘵𝘷𝘪𝘢 𝘮𝘢𝘯𝘥𝘢𝘵𝘦𝘴 𝘦𝘭𝘦𝘤𝘵𝘳𝘰𝘯𝘪𝘤 𝘪𝘯𝘷𝘰𝘪𝘤𝘦𝘴 𝘧𝘰𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝘴𝘵𝘢𝘳𝘵𝘪𝘯𝘨 2026 Beginning in 2026, all business transactions in Latvia will require electronic invoices, a move that aims to streamline processes, enhance transparency, and improve tax compliance. 𝐊𝐞𝐲 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: ◼️ 𝘔𝘢𝘯𝘥𝘢𝘵𝘰𝘳𝘺 𝘌𝘭𝘦𝘤𝘵𝘳𝘰𝘯𝘪𝘤 𝘐𝘯𝘷𝘰𝘪𝘤𝘪𝘯𝘨: Effective January 1, 2026, Latvian companies must use electronic invoices for transactions, except for cashier's receipts, National Health Service invoices, and national security institution transactions. ◼️ 𝘙𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘺 𝘍𝘳𝘢𝘮𝘦𝘸𝘰𝘳𝘬: The Cabinet of Ministers will define procedures and delivery channels, with regulations due by July 1, 2025, giving companies six months to update their systems. ◼️ 𝘚𝘤𝘰𝘱𝘦 𝘢𝘯𝘥 𝘌𝘹𝘤𝘦𝘱𝘵𝘪𝘰𝘯𝘴: Applies to transactions between Latvian companies but excludes those with cashier's receipts and certain government-issued invoices. ◼️ 𝘐𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘢𝘪𝘰𝘯 𝘊𝘩𝘢𝘭𝘭𝘦𝘯𝘨𝘦𝘴: Companies need to update accounting systems quickly, with specifics on invoice content and structure yet to be defined. 🔗 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞: https://lnkd.in/d82DqiAK 🔍 For more information, reach out to our member firm in Latvia, Sorainen. WTS Global Locally rooted - Globally connected #wts #wtsglobal #tax #taxtion #taxnews #taxinsights #einvoice #indirecttax #taxprofessionals #businesslatvia

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📝 Your Input is Needed: CEE 2025 Expansion Plans Survey To help the Central and Eastern European business looking for international expansions in 2025, we have partnered with The Recursive, Endeavor Poland, Future Unicorns Accelerator, LAUNCHub Ventures and ANIS Romania, to uncover the pulse of the region’s innovation leaders - what are their expansion goals, target markets, and biggest challenges for the year ahead? Share your insights by taking our 2025 Expansion Plans Survey and help us map the ambitions and obstacles shaping the CEE tech ecosystem. Your input will contribute to a deeper understanding of the trends that will define next year. Take the survey following this link: https://lnkd.in/eY869nxJ

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Curious how to navigate company finances during Bitcoin’s ups and downs—and much more? Our CFO, Štěpán Uherík breaks it all down in the latest Stackuj podcast episode. 🖤 Check it out! 🎧👇

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Let us briefly summarise the main messages from the wholesale market panel discussion at REKK's annual gas market event: 1️⃣ There was a consensus that Hungary currently has a price advantage due to increased liquidity as a result of the rearranged flows due to the war in Ukraine and the storage being filled. 2️⃣ Panelists expect more temporary hiccups with the expiry of Ukraine's transit contract in January and more uncertainty from legal risks, but see significant demand for Russian gas. 3️⃣ They are open to common thinking on the new tariff regime and negotiated access to storage, but urge caution on timing, given the geopolitical challenges next year. Thank you for the discussion Eszter Szekeres, Babett Pavlics, Szabolcs I. Ferencz, Dániel Garai, László Fritsch and Toth Borbala for the moderation.

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Are you curious about the specifics of Employee Stock Ownership Plans (ESOPs) in BULGARIA? We are excited to announce our latest publication, "Overview of ESOP Regimes in Central Europe: A Comparative Analysis of 16 Jurisdictions." This overview looks at ESOP regimes across 16 jurisdictions, including BULGARIA. Don't miss out on this valuable resource! Download the full overview now to get insights for implementing ESOPs in your business operations. 🔗 Download Here: https://deloi.tt/491aHuq #ESOP #DeloitteLegal #EmployeeBenefits

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Has Latvia's recent financial system “overhaul” been a success? 🎙️ Join the thought-provoking conference hosted by Žurnāls "Jurista Vārds" magazine to explore this critical question from the perspective of the justice and finance sector. The event will feature: ☑️ Four interviews with industry leaders. The first discussion will take place between COBALT Legal Partner Edgars Pastars and Director of the Financial Intelligence Unit (FIU) Latvia Toms Platacis on the successes and challenges encountered during the overhaul. ☑️ Survey results. The findings of a survey conducted among nearly 500 Latvian lawyers, offering valuable insights into their views on the system changes. ☑️ Open Q&A. An engaging interaction with the speakers and other attendees to share questions and perspectives. 👍 The event is ideal for legal professionals, compliance officers, and anyone interested in the future of Latvia's financial landscape. 🎙️ Language of the event: Latvian. 👉 The programme: https://lnkd.in/dkh_Ds7V 👉 To learn more and discuss the impact of these changes register here: https://lnkd.in/dD4f4qJV 📌 Supported by the University of Latvia's Faculty of Law and the Finance Latvia Association. ℹ️ Background: In 2018, the Council of Europe's Moneyval Committee identified areas for improvement in Latvia's anti-money laundering and terrorist financing efforts. The country responded with a comprehensive “overhaul” of the financial system, aiming to strengthen its defences against financial crime. . . . #Latvia #Finance #AML #Compliance

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