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Baltic countries will support the blockchain development

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The top officials of Baltic countries have agreed to support the development of DLT technologies, including blockchain.

Ministers of finances of Estonia, Latvia, Lithuania released a memorandum of understanding, where they declared the intention to collaborate on agreed focus areas in order to develop and stimulate their economies.  In the course of this mutual process, the countries agreed to study and explore the technology of distributed ledgers as one of the most innovative trends.

Memorandum states:

“The Estonian Ministry, the Latvian Ministry and the Lithuanian Ministry recognize the importance of the development of the capital market and a stronger institutional framework to handle the cross-border challenges in the Baltic States. … [And] supporting the development of capital market innovations and new technologies with a consideration for regional FinTech solutions, e.g. distributed ledger technology.”

Estonia and Lithuania have demonstrated a constrain interest in crypto technologies recently.

Earlier this year Lithuanian regulators issued a guidance related to the blockchain funding cases (ICO-campaigns). Judging by this document, the country preferred to play it safe, informing the consumers that ICOs are unregulated and risky, but not prohibiting any of them.

Estonia has previously suggested issuing its own cryptocurrency for its e-residency program, though later “estcoin” effort has been criticized by the European Central Bank.

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