2018 was full of news regarding regulation and legislation. The officials from various states seemed to wake up after a long-lasting slumber and started the industry regulation race. As a result, the world jurisdictions divided into three categories according to their views on cryptocurrencies and ICOs. The first group approves crypto and ICOs, another one consists of strict opponents, and there is a third one — those who didn’t decide upon the topic and depicted complete uncertainty.
And if the second ones make their statement clear enough, and while nobody wants to deal with the third group because of unpredictability, the first group is to be studied thoroughly. What did they manage to achieve in the previous period, and will they be able to retain leadership in 2019?
Quick decisions, intrigue, opponents, and partnerships
The key players are already determined, says Paul MIZEL, CEO at Asure Network: “What’s more interesting though, when we look at them closely, we can clearly see that most of them belong to the group of rather small countries that have tax advantages for a long time. Such states are usually called tax havens. For the other countries, the move to become blockchain-friendly is not that simple.”
Some of the crypto-friendly countries entered the race for projects and investors even before 2018 came. They gained some experience, and all they needed to do in 2018 — to specify the regulative rules or guidelines and provide the transparency of the legislation. Many of them succeeded, and some, on the contrary, made wrong steps, thus missing the crucial moment to attract some serious investments to their territories.
Marc WEINSTEIN, Principal at Genesis project, highly appreciated this initiative: “I believe that Switzerland pulled the rug out from under Malta. While Malta has been very public in trying to attract new crypto companies to their jurisdiction, Swiss FINMA released comprehensive guidelines.”
2019: keep the gains and go on with the developments
“Places like Malta and Singapore will keep playing a central role in 2019, no doubt on that,” — Stefano COVOLAN, founder of Korporatio, makes his prediction. “Also, many new players are entering the space, not only small offshore jurisdictions like Seychelles and Mauritius but even US states as we saw it already in Ohio. 2019 will be a big year from the regulation part, but this time, there would be laws for accepting cryptos rather than rejecting them.”
Of course, crypto-enthusiasts paid a lot of attention to the moves of the USA, the world economic and political leader, as well as to the responsible departments of this state. It seems that the new year would indeed be more positive. For example, recently it became known about a number of bills being discussed in Wyoming and the approval of blockchain businesses by their new governor.
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