Why is it necessary for merchants to provide a tax declaration and bank statement?

As a virtual currency exchange and depository virtual currency wallet operator in Lithuania, we are required to follow the regulations governing our operations as well as adhere to KYC (Know Your Customer) process. This process facilitates our compliance with AML/CTF (Anti-Money Laundering/Counter-Terrorist Financing) laws under the Law on Prevention of Money Laundering in the Republic of Lithuania.

To fulfill this requirement, we need a tax declaration or audited financial statement from our customers. These documents are reliable and independent and help us prevent financial crimes. In some cases, alternative documents may be considered, but not providing the requested information may result in restricted access to our services in accordance with our Terms and Conditions.

We understand that providing financial documents may seem invasive, but it is necessary for us to comply with regulatory standards and maintain a safe financial environment. Please rest assured that all information provided is treated with the utmost confidentiality and in compliance with data protection regulations.