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Contrary to common ones, smart contracts operate on blockchain-based technologies, denoting that there is no demand for a middleman to execute programmed algorithms. Allowing to avoid expensive court systems, smart contracts are much more affordable, so more P2P operations can be administrated by contractual mechanisms rather than trust deals. This is one of the main…

It is expected that hybrid smart contracts will reshape the world by completely restructuring the legit and regulatory mechanisms that we are now utilizing. Smart contracts are self-executing programs, written in HTML and stored in shared, immutable ledgers. These programs that run if predetermined terms are satisfied are excellent at transferring funds, and doing simplified…

Recently,NTFs have got highly popular to become the latest digital cοllectibles in nowadays entertainment, sport, arts, and gambling sectors. NFTs are best explained as a type of virtual asset kept on a blοckchain presenting οwnership of a digitalized product. The main characteristic that differentiates NFTs from other tokens is that it denotes a unique, non-replaceable, and non-replicable…

The system of cash flow forms the framework of the reformed business income tax system in Latvia. When dividends, conditional dividends, or payments that are equal to dividend payments are made, a Latvian corporation must pay CIT. As a result, a Latvian business is exempt from deducting CIT from its yearly earnings until any of…

Romania entered the European Union at the beginning of 2007 and underwent significant changes to meet the criteria for membership. As an EU member, Romania has embraced the EU’s tax regulations. Regarding income and capital gains generated anywhere in the globe, Romania imposes a flat tax regime on its people for both corporate and personal…

The state of Romania is a great country for entrepreneurship. Before launching the establishment every businessman has to be informed about all peculiarities of trade activity in the country. One of the most consequential topics is the taxation of companies. The corporation tax rate is 16% in Romania It is evaluated as the variance between…

Look closely at Romania if you’re searching for an emerging European Union nation that attracts the attention of investors. It is a country with a good image and a favourable tax system, which will be a good place to start commercial activities. Advantages of doing business in Romania the EU market Romanian businesses can conduct…

The nation has undergone several reforms to facilitate commercial operations and draw international investment since entering the European Union. Romania is therefore one of Europe’s most promising countries for foreign investors, while many other customers prefer quicker transactions and the purchase of ready-made businesses. What is a “ready-made” company in Romania? When someone has a…

With expectations for an updated legal and regulatory mechanism toward virtual funds, experts state the EU might place a more hard-line attitude on cryptos. As specified in the recent media reports, 6 EU member states, namely, Austria, Germany, Italy, Spain, Luxembourg, and the Netherlands are on their way of implementing an AML law that will…

In light of quickly emerging new projects stored on blockchain, the EU sets the first rules to regulate cryptocurrencies. EU authorities agreed on the adoption of legal mechanisms that would oversee the cryptomarket, obliging businesses to apply for authorizations to operate and provide services to users. Although the proposal still has to go via Brussel’…

European Blockchain Services Infrastructure: main points The EU is on its way to introducing its European blockchain services infrastructure (in short, EBSΙ), to publicly operated sector which should shortly interact with privately owned facilities. The EBSΙ represents a P2P system of interrelated nodes operating a blockchain-grounded services system. Nodes will be run by the EBP…

Reaching a provisional approval on the scope and direction of the MiCA proposal, the EU has brought virtual assets and VASPs under a common regulative system. These legal mechanisms that focus on regulating the risks related to crypto-assets, will guarantee the security of crypto holders and safeguard the smooth operation of the crypto market, whilst…