Ukrainian cryptocurrency is legal, Germany plans to introduce token funds

On September 10th, the Verkhovna Rada of Ukraine (Ukrainian Parliament) passed the Virtual Assets Act, which officially legalized virtual assets such as cryptocurrency in the country. According to the China National Currency (ZB) Research Institute, the definition of virtual assets in the Virtual Assets Act includes cryptocurrencies such as Bitcoin, as well as tokenized assets.

Based on the relevant information currently available, ZB Research Institute believes that although Ukraine’s Virtual Assets Act stipulates that virtual assets cannot be used as a means of payment in the country, Ukrainian citizens can legally hold Bitcoin and conduct transactions. This is For the first time, Eastern European countries are open to virtual currencies. In addition, the bill also stipulates that companies engaged in the encryption field need to obtain relevant licenses to operate in Ukraine. This shows that Ukraine has been familiar with cryptocurrency and cryptocurrency companies for a long time. El Salvador has the example of Bitcoin fiatization. Ukraine’s friendly attitude towards cryptocurrency may be the key to the inflow of funds in the cryptocurrency market to Ukraine.

On September 10, the German Federal Ministry of Finance publicly solicited opinions on the introduction of tokenized mutual fund shares. The deadline for soliciting opinions on related bills is October 1, 2021. According to the China National Currency (ZB) Research Institute, the draft regulations will allow investment funds to issue tokenized units on the blockchain. Some analysts believe that the move by the German Federal Ministry of Finance is likely to be due to the fact that other Western European countries, led by the United Kingdom, have gradually introduced token funds. Germany is in order to avoid the disadvantages caused by other European jurisdictions turning to tokenization. ongoing.

According to news on September 10, after President Nayib Bukele of El Salvador declared that the country has adopted Bitcoin as legal tender, catering companies including Starbucks and Pizza Hut are accepting payments in Bitcoin from customers. ZB Research Institute believes that the legalization of Bitcoin in El Salvador will inevitably lead other countries with similar economic status and international status to carry out fire protection. Currently known countries Honduras and Guatemala have issued relevant statements this week, indicating that they are studying the launch of digital currencies. Compared with the scientific and technological strength of these countries, there is a high probability that Bitcoin altcoins will be created or Bitcoin will be used directly as legal tender. According to the China National Currency (ZB) Research Institute, the Central Bank of Honduras has launched research on Bitcoin and other digital currencies to verify the possibility of issuing digital currencies or introducing digital currencies.

On September 10, the Zhejiang Provincial Intellectual Property Financial Services “Entry to Benefit Enterprises” Action (2021-2023) on-site promotion meeting was held in the Smart e Valley of Hangzhou High-tech Zone (Binjiang). According to the China Currency (ZB) Research Institute, at the promotion meeting, the “Zhejiang Intellectual Property Financial Services “Entry and Benefit Enterprises” Action Plan (2021-2023)” officially launched the country’s first public IP blockchain depository. Certificate platform-“Zhejiang Intellectual Property Blockchain Public Deposit Platform”, and held the nation’s first public deposit certificate of intellectual property rights and the first batch of blockchain-based data intellectual property pledge financing signing ceremony.

On September 10th, Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian State Duma, stated that Russia is considering recognizing crypto mining as an entrepreneurial activity in accordance with local commercial laws. ZB Research Institute believes that once cryptocurrency mining is considered an entrepreneurial activity, it will be included in Russia’s national registration system. According to relevant Russian regulations, once it is included in Russia’s relevant system, Russia will Collect taxes on cryptocurrency mining. Industry analysts believe that this is a prerequisite for Russia to recognize the legal financial assets of cryptocurrencies.

On September 10th, according to the information obtained by ZB Research Institute, Tencent Technology (Shenzhen) Co., Ltd. applied for the registration of the trademarks “Wang Zhe Yuan Universe” and “Tian Dollar Universe”. The international classification includes social services and communication services. The current trademark status All applications are in progress. According to a survey conducted by the ZB Research Institute, since 2021, “Meta Universe” related trademarks have been preemptively registered by many companies and natural persons, which also indicates that the concept of Meta Universe in the blockchain industry has a fairly long-term development expectation.

On September 10th, according to statistics from the China Currency (ZB) Research Institute, in July, retail investors’ inflows into exchange-traded funds and the US stock market hit a record of 16 billion U.S. dollars, driving the rise of cryptocurrency and US blockchain stocks. Some analysts believe that the market rise in August was also the result of retail investors driving the market trend. In contrast, most investment institutions and blockchain companies performed negatively at the transaction level, and their enthusiasm was mainly manifested in a large amount of spot hoarding.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/ukrainian-cryptocurrency-is-legal-germany-plans-to-introduce-token-funds/
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