[2019-3-6]San Marino Legally Tests Blockchain & Cryptocurrency

[Vladdirescu87]

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.

Italy is among the big countries which are slow in collecting social and technological amendments in their laws. Possibly there are some problems to solve so as to be able to regulate changes that still effect small number of the population and Gross Domestic Product (GDP). But this appears not to be the case with many small autonomous countries that have well-run administrations.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/san-marino-cryptocurrency/

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[gentlemand]

I used to go San Marino every other weekend for a vertiginous stroll.

Back in the day the foundation of their economy was selling pirated cassettes and electronics that cost exactly the same or more as the rest of Italy.

I'm sure Mother Italia keeps them on a very tight leash so I can't see them doing anything radical in crypto terms.

[Harlot]

Based on what gentlemand has said San Marino I think is one of the countries who has a bad economy taking advantage of the cryptocurrency industry. It comes to no surprise that small coyntries are leading the way when it comes to their crypto regulation as like what I have said before they are the ones who are are taking a slightly lower risk compared to big countries that is why we see no big countries rushing their regulation when it comes to cryptocurrencies.

[Naida_BR]

I thought that San Marino's economy is very very strongly correlated with Italy's. Doesn't that mean that if San Marino starts to test Blockchain and cryptocurrencies that Italy does the same? If this is true, then it is a huge step towards mass adoption because Italy is a core member of the European Union with a huge influence in other countries.

[Kemarit]

I thought that San Marino's economy is very very strongly correlated with Italy's. Doesn't that mean that if San Marino starts to test Blockchain and cryptocurrencies that Italy does the same? If this is true, then it is a huge step towards mass adoption because Italy is a core member of the European Union with a huge influence in other countries.

From what I understand, San Marino is quite stable and tourism almost cornered half of it's GDP. Italy and San Marino have bilateral relationships so I wouldn't be surprised if there's some sort of go signal from Italy itself although San Marino is a independent state. As per the article:

All the characters have recapped that this Decree is just the beginning and the launch of a regulation on the Blockchain technology and its applications which will be progressively augmented to make the Republic a comprehensive global hub for this nascent innovative technology.

Interestingly, they wanted to compete and be a global hub as far as blockchain technology goes, so let's see what incentives they're going to prepare to attract project similar to what the government of Malta is doing today.

[btyco]

San marino is known for having a small crappy international football team comprising largely of part timers. Perhaps it's reputation will change after moving to crypto