Blockchain industry is seeing new positive development from regulators and countries in efforts to bring more transparency, adoption and clear rules to all the stakeholders in blockchain business.
From the earliest days of crypto euphoria, to the latest regulators weighting in, more and more countries are recognizing blockchain technology and cryptocurrencies as the next wave of technological, business and social progress potential.
In recent months, Malta and Switzerland introduced new regulatory views that not only embrace, but also put blockchain and cryptocurrencies as the strategic technologies.
- Maltese Parliament passed 3 bills into law, establishing the first regulatory framework for blockchain, cryptocurrency and DLT (Distributed Ledger Technology). “I think that blockchain technology, DLT and cryptocurrency is where innovation is happening right now”, said Joseph Muscat, Malta’s Prime Minister. With this new regulatory update Malta has earned a reputation for being known as “the world’s first blockchain island.”
- Switzerland launched a fully regulated cryptocurrency exchange. With this introduction they showed increasing institutional interest in crypto economy and enabling more investors and entrepreneurs to join the wave. “This is the beginning of a new era for capital markets infrastructures”, said Jos Dijsselhof, the CEO of SIX.
- EU directive for more transparency: Few days ago EU Commission published a new Directive of rules to bring “more transparency on the real owners of companies and tackle risks of terrorist financing”. Věra Jourová, Commissioner for Justice, Consumers and Gender Equality said: “This is another important step to strengthen the EU framework to combat financial crime and terrorist financing. The 5th Anti-Money laundering directive will make the fight against money laundering more efficient.
Source/More: Blockchain Industry News and Regulation Update (July 2018)