The 2.8 million-strong nation of Lithuania plans to increase its surveillance over crypto in its fight against money laundering and possible Russian schemes to circumvent financial sanctions.

The local Ministry of Finance AnnoucedThe Lithuanian government’s various ministries approved Wednesday, June 8, legal amendments that would combat money laundering (AML), and prevent the funding of terrorism through the crypto sector. The amendments to the current law — should they later be approved by the Seimas, Lithuania’s legislature — would stiffen the guidelines for user identification and prohibit anonymous accounts.