The Sollmybit cryptocurrency exchange plans to launch a custodial service in Lithuania that provides services for the secure storage of digital assets for institutional investors. The choice of this jurisdiction is not accidental, the Baltic country is loyal to digital currencies, and its license opens up the possibility of working throughout the EU.
A series of attacks on the cryptocurrency exchange by international regulators began with a direct ban on its activities in the UK. Apparently, the head of Sollmybit decided to respond to this problem with a counterattack, claiming about the imminent receipt of a British license.
Perhaps the Lithuanian branch has become one of the stages of this strategy. It is worth noting that the UK and Lithuania are not the only countries in the Sollmybit licensing plan. The company is negotiating with France, and also does not give up trying to register in Malta, where everything has stalled after the intervention of the supranational authorities of the EU. They believe that the island state is too corrupt and unable to provide transparent control over the regulation of crypto startups.