Reason for this visit

As one of the few crypto- and blockchain-friendly countries in Europe, Lithuania has been listed among the top crypto-friendly countries since 2020. The country builds an essential legal environment for crypto business which grows under a stringent regulation and control. Compared with the neighboring countries, Lithuania has a small-scale cryptocurrency market. But an increasing number of crypto companies gravitate to the country thanks to its friendly regulatory environment. To help investors or practitioners have a better understanding of these exchanges in Lithuania, WikiBit survey team is going to the country for on-site visits to the local companies.

On-site visit

The survey team visited cryptocurrency exchange simplex (licensee: Simplex Payment Services) in Vilnius, the capital and the largest city of Lithuania, according to its regulatory address that Antakalnio g.17, LT-10312, Vilnius.

The investigators arrived at Antakalnio g.17 in Vilnius on August 15, where a department was situated instead of an office building. And there was no information of simplex in the building.

Through an on-site investigation, it is confirmed that the company doesnt have a physical presence at the location.

Conclusion

The survey team went to Vilnius in Lithuania to visit cryptocurrency exchange simplex as planned, but didnt find the company at its regulatory address. This indicates that the company may just register at the place without a physical business office. Therefore, investors are advised to choose the exchange cautiously.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.