Search results for San marino

Cryptocurrency cards are the modern way to spend bitcoins for purchases even if the vendor doesn’t accept cryptocurrency directly. However, users worldwide face multiple issues while using these crypto cards, including the inability to pay everywhere, bad customer service, bad exchange rates, high fees, and even closed or frozen accounts with money lost.

Canada has recognized cryptocurrency handling companies such as exchanges and payment service providers, as legitimate ‘Money Services Businesses (MSB)’, as the money laundering and terrorism financing act (PCMLTFA) amendment started acting.

At the international level, the framework is being composed thanks to the indisputable initiative of Switzerland in particular that on the issues of the new regulation for cryptocurrency / tokenization in financial markets is leading the way and laying the foundations for the construction of many experimental projects and to build those experiences that then allow to "write the actual rules".

Blockchain technology, a real revolution that is already happening in all parts of the world, is not just a pure technological issue, but rather a push to change with a broader meaning, both intellectual and social

The Republic of San Marino, an enclave surrounded by Italy in Southern Europe, where anyone making use of Blockchain systems can now apply to the Institute for Innovation of the Republic of San Marino for recognition as "Blockchain Body," pursuant to Delegated Decree no. 86 of May 23, 2019 entitled "Blockchain Technology Standards for Companies" which introduces transparent, clear and simple regulation, providing specific rules for the different applications of distributed registry technology.

Several developed countries, like the United States, China, Russia and others, see Bitcoin and other digital currencies as speculative tools. They think investors will only become rich or benefit if they invest and wait for probably like five, ten, fifteen or even twenty years along the line. Nevertheless, some countries look at cryptocurrencies as a new, fast, secure and easy means of payment, especially when carrying out cross-border payments. In this technological era, smaller countries globally have continued to embrace the use of blockchain and cryptocurrency.

The small enclave nation bordered by Italy, iRepublic of San Marino, has signed a Memorandum of Understanding (MoU) with VeChain Foundation Ltd and DNV GL, to adopt blockchain so they can define blockchain systems that have the potential to boost adoption of upright behavior by residents and set favorable conditions which will attract fresh projects to the country, hence embracing the digital revolution and evolution of the whole economic structure. The country is trying to consolidate its strategy of developing, promoting and implementing the technological novelty ecosystem using groundbreaking blockchain tech.

The Republic of Cyprus is going to draft blockchain and cryptocurrency regulations this year, according to the Ministry of Finance. Minister Harris Georgiades is optimistic the regulation draft will be completed very soon and will play a big part to revolutionize the finance industry in the country, Financial Mirror reports.

The Malta Financial Services Authority (MFSA), together with the Financial Intelligence Analysis Unit (FIAU), recently published a Guidance document for financial institutions creating accounts for financial technologies (fintechs). The aim is to encourage innovations including cryptocurrency and blockchain within the fintech sector, and protecting the integrity of the financial market.