Cryptocurrency is recognized as a short-term asset that can be used as a means of payment for goods or services or held for sale. Despite the fact that this means of payment is allowed in mutual settlements not only by the legal acts of the Republic of Lithuania, but also by the European Union, virtual currency cannot be associated with money. It is not allowed to pay for the shares of a company (UAB) being purchased with virtual currency, because the price of the item being sold must be determined in money by agreement of the parties, and since virtual currency does not have the status of money, it is not possible to pay for the shares of a company (UAB) being sold with it.
Virtual currency does not have the legal status of currency or money. Virtual currency is not authorized or guaranteed by a central bank or other state institution. Virtual currency has its place in the financial world, but it is still moving forward.