Is This Small Country In Eastern Europe The Leader In Cryptocurrency?

BTC Wires: One of the most intriguing aspects of the cryptocurrency market is the surprises which it unfolds along the way. Among several other developments that are taking place left, right and centre, in the modern era of digitalization and tokenization. Another interesting surprise has surfaced, according to which Lithuania leads the pack in the initial coin offerings (ICO) per capita.

The sense of surprise and amazement is quite natural as it is the same tiny little slice of Eastern Europe, which is considered to be anti-crypto. The reason due to which it is described as anti-crypto is its unwavering enthusiasm of restricting people’s access to cryptocurrency.

In stark contrast to its earlier take on cryptocurrency, Lithuania is taking a 360 degrees turn in its approach in dealing with cryptocurrencies. The bank of Lithuania offers a simple financial form to issues a financial license for an average period of three months. While to obtain such licensing in other European countries it would take at least a year. It provides an upper hand to Lithuania over other European countries as the investor line up for new ICOs at its doorstep with such a shorter span of financial licensing. They also provide a centralized facility that brings the developers under a single roof and connects them with ease, ultimately delivering quality final products.

Lithuania supremacy in the field is not just about funnelling cash into the development of ICO and blockchain projects. It is also taking initiatives in making laws easier and clearing doubts of the general masses at large, about the potential risk of investing in digital currencies.

In such circumstances where countries from across the globe are standing against cryptocurrency being considered as legal and demanding for stringent laws governing their transactions (if allowed). It is quite heartwarming to see at least one place that is bringing out the positives of cryptocurrency to the world out there.

Dmitriy

Having majored in Social Psychology and Economics, I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. I write financial articles for various international media. I also hold the position of a Chief Analyst at RoboForex.