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Bank of Lithuania: Progress of financial innovations requires equal treatment

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  • In response to the European Commission’s consultations on the development of the digitalisation of financial services in Europe
  • Bank of Lithuania proposes to apply uniform regulation throughout the European Union (EU), following a technologically neutral approach
  • The Bank of Lithuania has made a significant contribution to the promotion of financial innovations
  • Europe can take up the  leading international role in designing and adapting FinTech solutions
  • Digital financial services are playing an increasingly important role on the EU institutional agenda
  • Financial innovations often emerge and grow faster than the regulatory framework adapts, so it is important to find an appropriate solution
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