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2019.04.11 09:35

Lithuanian government commission to look into Revolut

LRT.lt 2019.04.11 09:35

A government commission on Thursday is to consider whether the British financial services startup Revolut agrees with Lithuanian national security. The company itself asked to be evaluated following statements by a Lithuanian MP.

The Lithuanian parliament, Seimas, is also to vote on a resolution to oblige the government commission, in charge of supervising business deals that are deemed of consequence to national security, to look into the London-based company for the third time.

The previous two times, the commission decided that Revolut posed no threat to Lithuania's interests.

The company attracted scrutiny in Lithuania after securing the European Central Bank's license for its Revolut Bank through the Bank of Lithuania last December.

MP Stasys Jakeliūnas, who chairs the parliamentary Committee on Budget and Finance, has stated that managing the risks associated with Revolut would be excessively taxing on Lithuanian public institutions.