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.
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 Most Serene Republic of San Marino, a country located on the Italian Peninsula, has finally approved the cryptocurrency and blockchain regulations that will be governing all the innovations and operations related to this technology. A new committee was also formed so as to develop the country’s position as the globe-top hub for innovative technologies. The country is preferably placed to become a worldwide hub.
The council works on amendments and approvals of decrees related to innovative technologies in the Republic of San Marino. This small enclave nation enclosed by Italy wants to be among the first states to regulate and approve blockchain and its far-flung applications. The decree also aims to revive the country's economy and promote its high-tech profile.
In an effort to prevent illegal activities that go with blockchain and crypto, Republic of San Marino has come up with a decree aiming at creating strong anti-money laundering regulation (AML) in relation to the distributed ledger technology (DLT), so as to standardize the technology, and further evaluate all potential scenarios in Italy.
San Marino, a country in Europe, located within the borders of Italy, issued the Delegated Decree n.37, dubbed "Rules on blockchain technology for businesses." The standard, inter alia, makes an interesting reconstruction of the marvel of cryptocurrencies, which are notably classified as utility (usage) tokens and investment (security) tokens.
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The Republic of San Marino is placing itself to become a ground-up hub for Blockchain. This has come through an announcement from the San Marino Innovation Institute, the formation of a new company which under San Marino law will be devoted to developing a first-ever ecosystem for blockchain innovation.