Bank of Lithuania has published guidelines on relicensing of crowdfunding platform operators according to the Crowdfunding Regulation

The Bank of Lithuania has published guidelines on the relicensing of crowdfunding platform operators according to the Crowdfunding Regulation. These guidelines can be found here:

https://www.lb.lt/en/news/for-the-attention-of-providers-of-crowdfunding-services-major-changes-taking-place-in-regulation-please-contact-the-bank-of-lithuania

The Crowdfunding Regulation amends the Republic of Lithuania Law on Crowdfunding, which will be repealed on 10 November this year. After this date, the crowdfunding platform operators included in the public list processed by the Bank of Lithuania will no longer be authorised to provide crowdfunding services and will not have the right to provide the possibility to enter into new financing transactions through the crowdfunding platforms administered by them.

The crowdfunding platform operators intending to continue providing these services already in accordance with the Crowdfunding Regulation are required to submit to the Bank of Lithuania the documentation necessary for the relicensing procedure no later than by 9 November 2022.