Video Digest, April 9: New Crypto Friendly Regulations in Liechtenstein, India Against Cryptocurrencies

Welcome back to Coin Idol TV News channel. Digest on April 9 features the following topics from the world of Blockchain and cryptocurrency: Liechtenstein plans  to incorporate new cryptocurrency friendly regulations, while India forbids any kind of regulated entity to deal with crypto coins.

Liechtenstein is Going to Incorporate New Crypto Friendly Regulations

Liechtenstein Prime Minister Adrian Hasler has proposed in his speech at a Finance Forum last month to adopt “The Block chain Act” in order to not only regulate the tax, spending, and issuance of digital currency but also to create advantageous conditions for new fintech businesses.

While only the sixth smallest country in the world, Liechtenstein has already established itself as a block chain hub. It houses not only domestic financial technology ventures but international as well due to the low taxes in the country.   

India Forbids Any Kind of Regulated Entity to Deal With Cryptocurrencies

The Reserve Bank of India announced its decision to stop the trading of virtual coins such as bitcoin and altcoins on the country’s financial market. Regulated financial institutions can provide no service directly related to digital currency.

Banks and other regulated entities have three months to stop any kind of transactions or data processing related to trading coins. However, Deputy Governor of The Reserve Bank of India  BP Kanungo pointed out his intention to stimulate the development of the block chain technology.