[Lithuania Updates Crypto Asset User Reporting Rules, EU-Wide Implementation Starting in 2026] Odaily Planet Daily News: The Lithuanian State Tax Inspectorate has updated the user reporting procedures for crypto asset service providers, clarifying the reporting scope and operational standards through Order VA-63 to align national regulations with the EU's DAC8 and the OECD's Crypto-Asset Reporting Framework (CARF). The new rules require regulated crypto asset service providers and local crypto operators to enhance customer due diligence, collect user identity, transaction records, and tax residency information, and record customer identification numbers, transaction logs, and account balances. Entities that have fulfilled registration and reporting obligations in other EU member states are exempt from duplicate reporting in Lithuania. Comprehensive operational reporting across the EU will commence on January 1, 2026, with data collected by platforms in 2027 to be automatically exchanged among member states' tax authorities starting mid-2027. The new rules do not alter Lithuania's capital gains tax rate on virtual assets, but relevant institutions must update customer onboarding processes and back-end systems. Starting March 2, certain transactions involving electronic money tokens (EMTs) will require additional payment service authorization, including transferring EMTs on behalf of clients and operating custodial wallets supporting third-party transfers; exchanges between EMTs and between EMTs and fiat currencies are not automatically classified as payment services. (Bitcoin.com News)