Law

Cryptocurrency poses four major types of risk, namely, financial, monetary, criminal and law enforcement, according to a report by the Guardia di Finanza (Gdf). The techniques are somehow sophisticated, restrained and variable. Judicial authorities registered increased complaints related to the illicit use of digital currencies.

The United States (US) Securities and Exchange Commission (SEC) postponed another VanEck Bitcoin ETF approval, as per an authorized SEC filing on Monday. The US SEC, one of the agencies in charge of implementing federal securities law, as well as regulating the securities sector, stock and exchanges such as digital securities markets, said that it still needs time to collect more key information.

Recently, the Governor of Maryland, United States, Larry Hogan, officially signed a bill into law to amend the General Corporation Law of the state. Senate Bill 136 enables the industrial use of blockchain by private corporations to carry out proper and secure record keeping. The new amendments will come into force in October this year.

Recently, the blockchain argument in Italy reached all-time levels of hype and media exposure of national popular status. In fact, when you walk through the corridors of most popular supermarkets you will listen to the branded radio stations advertising the new chain tracking initiative via blockchain technology. The decrees present the instrument, but maintain a centralization which isn’t reflected in the technology model.

Colorado state in the U.S. is studying the prospect of applying blockchain to water rights management (WRM). The conforming bill was released on Colorado’s General Assembly official website on March 6, 2019.

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.

Wyoming (WY) is now the first U.S. state to give authority and direct property rights to all digital currency owners by passing second & third Senate appraisals of Bill SF0125. After that, the bill will head to WY Governor Mark Gordon and its thought it could turn into law very soon – probably next week.

To find a way to outplay sanctions and enhance adoption of digital currency, Russia’s authorities are considering a new draft law which will allow certain businesses and entities to perform payments with the help of cryptos such as Bitcoin and Ethereum.

Law 30/2019 amending the Fiscal Code became active on Sunday January 20, 2019 and introduces freshness to the system of Romania, viz. classifying the profits accumulated from Bitcoin (BTC), the flagship crypto and other cryptoassets as financial gain accruing over a given period of time from other sources.