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Liechtenstein Blockchain Act To Create Crypto Hub For Institutional Investors

Published 1 year ago by Paddy Baker

Liechtenstein Blockchain Act To Create Crypto Hub For Institutional Investors

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However, its geopolitical position could make Liechtenstein a leading light for blockchain regulation, and a future powerhouse (or powercastle?) By the new millennium, Liechtenstein had reinvented itself as an international center for finance; the country is in the peculiar situation of having more registered companies that it does citizens. Liechtenstein is now working on a new piece of legislation that observers claim will make the country one of the most attractive destinations in the world for institutional investors.

Liechtenstein will not regulate cryptocurrency itself, but will instead focus on regulating the transfer of digital assets, as well as the businesses and service providers that leverage distributed ledger technology (DLT). According to Matthias Niedermüller, a lawyer who has worked closely on the proposed Blockchain Act both with businesses and the government, this is a realistic decision. “The Blockchain act provides for a comprehensive system for creation, storage and transfer of tokens along with the security for enforcement of the rights associated with every token and therefore creates an entire token economy”, he adds.

Liechtenstein’s role in global finance means there is already considerable overlap; existing regulation covers large swathes of the cryptocurrency sector’s activities. Liechtenstein’s Financial Market Authority (FMA) had already determined in September of last year that tokens sold in public sales already counted as financial instruments subject to existing regulation, especially in regards to security tokens. “The success of the Liechtenstein Blockchain Act, however, could form a role model on how to regulate the Blockchain business.” Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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