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Ignore of the crypto currency functioning issue along with the usual monetary units will not work. Internet money is making its way, forcing the world community to reckon with their increasing popularity.
This year оne of the problems considered by Second International March Blockchain Conference was about the IT-currency transactions legislative regulation. Directions towards the world legislation are moving relative to this sphere optimization (they were indicated at the German G20 meeting), are the clarification of:
Since using such tools it eliminates the need for banks mediation, anonymous crypto currency (such as, for example, dash) according to the participants opinion, most states will prohibit. By the way, that is what Japan began to do this year, thus confirming: the world community is against anonymous financing in principle.
Virtual value is a concept that appears in new Estonian law edition (updated by the end of 2017) on combating money laundering, terrorism financing. Nowadays, having received a state license (issued by Police and Border Guard Department), anyone can legally engage in trade, exchange, investment, take virtual money as payment means, which inherently fall under the virtual values concept.
Legislation also prescribed a wallet service, which allowed to store, transfer, manage such assets by coding.
State license, provided by the legislation, will allow customers to conduct transactions with crypto currency from anywhere in the world (directly at company’s representative office, or remotely via the Internet). Such permission may be issued for the following types of services:
The license is obtained within 30 days, if legally prescribed procedures are observed:
Estonia has stepped on the legislative IT currency sphere regulation way, understanding that Internet finance is not a theory, but reality with which the whole world community should be considered. Meantime, all countries financiers are discussing necessity, possibility and legislative regulation expediency of this area, the Internet finance users number is growing, even crypto currency dependence appears, and after institutions that study and treat it. For example, the Scottish Rehabilitation Center has applied some dealing with gambling addiction methods to those who now with the same mania every minute check out online money courses movement.