Do you think other countries can put in the same way?
The draft law "On Digital Financial Assets" passed the first stage of consideration in the Russian parliament and was approved by the government.
This law forms a system of strict control over financial transactions with the crypt.
The most important points:
1. Only wallets on government approved exchanges (legal wallets) will be legal.
Create legal wallet will be possible only after identification by ID (passport) of the citizen.
Transactions on all other wallets will be illegal and will be prosecuted police.
2. All transactions will be taxed.
3. Each transaction worth more than 600,000 rubles (about $ 10,000) will be under special control Central Bank.
4. Mining will require a license. Private mining will be considered illegal and persecuted.
Although there is no name of the people of Malta who entered the list of owners of the richest crypto money, but the smallest country in the EU will serve as the center of crypto currency in the world.
Reported by Bloomberg , unlike other countries that do not have clarity about the regulation of crypto currency, Malta will make their law friendly to the owner of crypto currency.
Joseph Muscat, Prime Minister of Malta, is optimistic about the plan. He also called crypto money as the money of the future, as well as believe in the creation of significant economic activity in Malta.
Bloomberg noted that so far, Asian countries still dominate the business of crypto currency, call it Japan, South Korea, and Hong Kong.
However, although the crypto money business in Asia is somewhat exciting, but the government has not fully synergized with the business.
The Chinese government has banned Bitcoin and crypto currencies, South Korea also has no clarity about the crypto currency that makes investors wary.
Japan who was asked as a friendly country on crypto money instead stumble problems due to unscrupulous individuals who commit fraud with crypto money.
Uncertainty of regulation in Asian countries will attract investors to Malta, and shift the dominance of crypto money centers from Asian countries to western countries.