PANews reported on April 10 that according to the Financial Times, the crypto-friendly banking financial institution Revolut was fined 3.5 million euros in Lithuania for failing to control money laundering. It is reported that the Lithuanian regulatory authority imposed the highest regulatory penalty on Revolut due to "violations and deficiencies" in its processes.
Revolut has previously decided to go public in the United States, with a potential valuation of up to $45 billion. Meanwhile, this new bank continues to expand its business in the digital asset field. Its crypto-focused trading platform, Revolut X, was launched in the UK earlier this year and has now been expanded to 30 European markets.
