• About Us
  • Advertise
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Team
Tech News, Magazine & Review WordPress Theme 2017
  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis
No Result
View All Result
  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis
No Result
View All Result
CurrentCryptocurrencyNews
No Result
View All Result

Republic of San Marino Addresses New Government Policy on Blockchain Technology

Christofer Wright by Christofer Wright
March 17, 2020
Home Blockchain News

One of the smallest countries of the world, the Republic of San Marino has issued a new regulatory policy for companies powered by blockchain technology.

Nicola Selva and Michele Muratori, the captains regent of the Republic of San Marino country have addressed a new governmental rule on token and token offerings, reports according to documents.

The new law mentions, blockchain organizations of the Republic of San Marino or a European country or any other country not rated as ‘high risk’ and determined appropriate within the scope of San Marino legislation, can apply to register with the institute.

The new law issued by the captains regent highlights the steps for registering a blockchain powered business in the Republic of San Marino. Any blockchain based organization within the legislative scope of San Mario, now need to follow the procedures issued by the Republic of San Marino to register itself with the ‘Istituto per l’lnnovazione della Repubblica di San Marino’ or with San Marino Innovation Institute. More countries are now approaching news techniques to register blockchain technology businesses in their country by issuing regulations.

The institute offers a set of services to blockchain based organizations such as regulatory safety along with supervision, further ensure those regulations and provide an anti-money laundering (AML) policy especially for initial token offerings or initial coin offerings (ITOs or ICOs).

In accordance with Initial Token Offerings, the institute will differentiate the utility tokens and security tokens by stating as follows, for purchasing services or goods provided by the blockchain organization utility tokens will be considered as vouchers and Security tokens will be considered as digital assets that act alternatively, on the basis of following two instruments namely:

a) Participating instruments of the issuer and

b) Debt securities of the issuers’

Apart from these, governmental law adds tax policies for both the tokens, utility tokens, and security tokens. Moreover, utility tokens will be considered as an international currency for tax objectives, and Security tokens will be considered as debt securities or participating equity instruments, mostly depends on the type of security token.

Income tax standards will eventually exclude both the tokens, utility tokens, and security tokens for generating income through activities by using the tokens.

A crypto source reported the law was originally introduced on February 28, 2019, in Milan, Italy.

Christofer Wright

Christofer Wright

Christofer Wright is an experienced news writer and holds a journalism degree. Presently he is working as a sub-editor at Current Cryptocurrency News. He leads a team of news writers and regularly contributes his knowledge and ideas for news writing. In his free time, he even writes some featured articles regarding cryptocurrency market updates & latest happenings.

Next Post
McAfeeMagic

Revolutionary cryptocurrency platform McAfeeMagic is live in action

Recommended.

Libra

OpenZeppelin developers Found And Patch Bug In The Code of Libra Stablecoin

March 17, 2020
Crypto Ownership to Be Questioned by The US IRS in The New Income Tax Form

Crypto Ownership to Be Questioned by The US IRS in The New Income Tax Form

March 17, 2020

Trending.

South Korea’s CJ Group Integrate to Amazon’s Blockchain for Music Copyright Management System

South Korea’s CJ Group Integrate to Amazon’s Blockchain for Music Copyright Management System

March 17, 2020
Coinitix.com – Yet Another Platform for Bitcoin Purchase

Coinitix.com – Yet Another Platform for Bitcoin Purchase

November 10, 2020
Wipro and Uniper join hands to build Blockchain-based Platform For Energy Sector

Wipro and Uniper join hands to build Blockchain-based Platform For Energy Sector

August 21, 2020
Battle Royale Game Lightnite

Battle Royale Game Lightnite Incorporates Bitcoin Support for Players

March 17, 2020
Gemini Launches Its Own Captive Insurance Company, Nakamoto Ltd.

Gemini Launches Its Own Captive Insurance Company, Nakamoto Ltd.

March 17, 2020
CurrentCryptocurrencyNews

Current Cryptocurrency News is your one-stop news source for everything related to cryptocurrencies. You can read the latest news headlines for 24/7 on any screen. In addition to that, we provide latest news stories including fundamental and technical analysis. So, our main aim is to help crypto enthusiasts to grow according to current trends.

Email: john@currentcryptocurrencynews.com

Follow Us

Cryptocurrency Updates

Russia About to Test Cryptocurrency for the First Time
Cryptocurrency News

Russia About to Test Cryptocurrency for the First Time

by John Roberts
March 17, 2020

Bitcoin Updates

Bitcoin - An Exclusive Currency in the Future

Bitcoin – An Exclusive Currency in the Future

by John Roberts
January 13, 2021
0

Ten years ago, the concept of virtual currency was laughed at by trade pundits and finance experts. People ridiculed the...

Categories

  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis

Recent Updates

Bitcoin - An Exclusive Currency in the Future

Bitcoin – An Exclusive Currency in the Future

January 13, 2021
Coinitix.com – Yet Another Platform for Bitcoin Purchase

Coinitix.com – Yet Another Platform for Bitcoin Purchase

November 10, 2020
Wipro and Uniper join hands to build Blockchain-based Platform For Energy Sector

Wipro and Uniper join hands to build Blockchain-based Platform For Energy Sector

August 21, 2020
  • About Us
  • Advertise
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Team

Copyright © 2021. Current Cryptocurrency News. All Rights Reserved.

No Result
View All Result
  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis

Copyright © 2021. Current Cryptocurrency News. All Rights Reserved.