The largest Austrian scriptblocker Bitpanda believes that legislative regulation of bitcoin assets should be based on the rules of gold trading. About it in the comments investing.com said co-CEO Eric Demuth (Eric Demuth). According to Demuth, the Austrian stock market considers legal supervision is necessary, but it is still there:
“We want the introduction of regulatory rules, but to this day we claim that it is impossible.”
Earlier it was reported that the Ministry of Finance of Austria will adhere to housing laws on gold trade. Finance Minister Leger Hartwig (Hartwig Loeger) stated that the transactions the subject of which is BTC, for amounts over 10 000 euros, as well as all the participants must be reported in special reports. In the same way within the EU is regulated by the trade of precious metals. In addition, Hartwig believes that the ICO needs to be approved by the Ministry.
Such rules are beneficial for the state and for traders. On the one hand, they allow us to track criminal activity (which, according to the authorities, and frequently featured the gold). On the other hand, in the EU the gold trade is not subject to value added tax; in addition, the legal liability of traders in this sector are much lower, according to Bloomberg.
The question of legal regulation of cryptocurrency is being discussed on a global level. We will remind that the Commission on securities and exchange Commission (SEC) proposed to equate virtual assets to securities. The same line follow the existing laws in the Russian Federation. Some issuers tend to believe cryptocurrency resources “public use”.