The Government of Liechtenstein is preparing a legislative framework for regulating business models based on blockсhain technology, Prime Minister Adrian Hasler announced during his speech at the Finance Forum in Vaduz.
“The planned regulations will make us one of the first nations worldwide to regulate this topic this broadly, laying the groundwork for extensive economic applications”, said Hasler
The bill will be presented in the summer of 2018. It designed as a business model based on theblockсhain which could provide legal and regulatory certainty for both business and customers.
It is not just a cryptocurrency, but also it applied to other spheres of life such as real estate, transport, copyright and the securities market. Most of the economic processes and financial services will be carried out using blockchain. State support for innovation is seen as a factor for strategic success,” added Prime Minister Hasler.
Today, in Liechtenstein, crypto-exchange sites and companies are not licensed. The Financial Market Authority of Liechtenstein (FMA) has published only two brief brochures on crypto-currencies and ICO despite the fact that country is a major financial center in Europe.