The Prime Minister of Liechtenstein Adrian Hasler (Adrian Hasler) stated that the new legislation, which will regulate the blockchain-sphere and will appear this summer, aims to promote innovation and go further than in other countries. Once in the country a working group to study the risks and benefits of new technologies, according to him, “it quickly became clear that the blockchain can significantly change almost all aspects of economic life and financial services”.
Hasler said that “the law on the blockchain” (the Blockchain Act) becomes the “state innovation” and will regulate all activity that can be implemented using registers or distributed blockchain systems, and give companies that implement new services and business models on their basis, legal certainty.
The authors of the law had studied the legislation of other countries and conducted a series of consultations with FINTECH companies, providers of financial services and lawyers. Therefore, they hope that the document will be as close to practice.
“It makes no sense to create excessive regulation that does not correspond to reality, because then the blockchain economy will begin to grow beyond it. It’s definitely not going to happen in the interests of the country,” said Hasler.
We will remind, in February the crown Prince of the Principality of Liechtenstein Alois (Alois) told the press that the Royal family of vkluchaetsia Hans-Adam II (Hans-Adam II), is seriously considering the possibility of the cryptocurrency investment for the diversification of new assets and overcome financial difficulties.