As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
This is a new investment opportunity – SPI license in UK for sale. Please check out the main details regarding this proposal below. SPI license in UK for sale: key considerations Small Payment Institution (SPI) in UK for sale; Company was licensed by FCA in 2018; Allowed activities (money remittance, foreign exchange); Company has 3…
Seize the opportunity to effortlessly establish your business in the UK with our ready-made company, complete with premium bank accounts at Barclays and HSBC. Key features Company for Sale in UK with Barclays & HSBC Accounts Company Details: – Incorporated: 2024 – Registered Address: England – Company Type: Private Limited Company – Nature of Business…
Are you ready to establish your business presence in the UK effortlessly? Discover our exclusive offer—a ready-made company with immediate access to Natwest, Revolut, and Wise bank accounts. Here’s what you need to know: Key features Company for Sale in UK with Established Bank Accounts – Company Details: Founded in 2024, work in non-specialised wholesale…
An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
Zurich
+41 435 50 73 23Kyiv
+38 094 712 03 54London
+44 203 868 34 37Tallinn
+372 880 41 85Vilnius
+370 52 11 14 32New York
+1 (888) 647 05 40The blockchain technology goes to a new level. Recently the US Congress presented two new bills governing the price setting procedure in the cryptocurrency market. The main goal of these acts is to create competition, increase market activity and attract traders on the crypto market in the US.
One of its major achievements is providing the official term of “virtual currency”. Digital representation of value that does not have legal tender status and that functions as a medium of exchange, a unit of account, or a store of value.
In general, the act related to the process of price settings and intended to solve the problem of pricing speculations.
According to the bill, the price-tracking function relies on the Chairman of the Commodity Futures Trading Commission (CFTC). One of duties is to prepare a detailed report, which covers all issues concerning existing and possible price speculations. This report should also include the hidden risks for investors on crypto market, so they can protect their assets.
This act puts on the Chairman of CFTC another important function – comparison of national and international legislation in part of blockchain regulations and preparation of the legislative proposals and recommendations. The required information should be prepared together with the relevant federal agencies and included the Chairman’s report.
The bill mentioned above also suggests a new approach to the cryptocurrency exchange regulation. The main differences of the proposed system are improved market governance, issuance of federal licenses for the market participants and consumer protection. The 922 and 923 acts promulgated after the introduction of the Token Taxonomy Act, which suggests putting the cryptocurrency to the separate category.
For now, the cryptocurrency regulated by the security legislation, which does not cover all the issues concerning the constantly growing virtual currency market. If the 922 and 923 adopted, they will function as independent legislative acts without binding to the securities.
The Token Taxonomy Act also contains a definition of virtual currency, which is quite similar to the one proposed in the 922 bill. The U.S. Congress lays a foundation for future legislative basis in the field of virtual currency activities.
It is unknown for this time if the 922 and 923 bills will be pass, as they have to be consider by the subcommittees and the House of Representatives. After that, the bills are transfer to the Senate and then signed by the President.
In any case, the existence of such bills indicates the readiness of the state to support and develop the cryptocurrency market, so it is a promising field for investments and business.
Please join our Telegram channel in order to keep updated for the new offers.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.