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Bank of Albania has licensed no financial operator involving cryptocurrencies. Bank highlights the risks of crypto trading. Last updated: July 5, 2018.

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Albania Planning Crypto Regulation Framework

The Albanian government is planning a regulatory framework for digital assets in an effort to become a hub for digital asset investment in the Western Balkan region, a report from the Tirana Times said on Oct. 22. The announcement makes Albania the latest in a series of governments warming to cryptocurrencies and trying to draw investors in the field, including Malta, Singapore, Israel, and Gibraltar. Prime Minister Edi Rama stated in an interview with the Tirana Times: “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people… we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a center of gravity for innovative financial markets is open for every country despite their level of development.” Rama may have an uphill battle ahead of him. Though he believes that crypto can create new job opportunities and bring an influx of business to Albania, the country’s financial authorities have repeatedly cautioned investors against investing in the space. In a recent research paper, the Bank of Albania raised questions about the possibility of crypto and fiat currencies coexisting. No financial institutions are currently licensed to issue cryptocurrencies in the country, according to the Albanian Financial Supervisory Authority. The head of the institution Ervin Koçi stated in an interview that while it can’t stop people from investing in crypto online through interests outside Albania, they should be vigilant: “Of course there might be individuals or businesses in Albania investing online using the internet in companies which are issuing these initial coin offerings outside of Albania, but they should be aware that they carry all the risks and are responsible for their own choices when making such an investment.” Nonetheless, Rama says his government has conducted a thorough study of the space and are drafting a rough regulatory framework, stating at a public event: “For the moment, we are assessing and working on the drafting of a regulatory framework after having conducted a thorough analysis and study. If the results are satisfactory, then we will promote even outside Albania, the country’s willingness to become a hub for numerous potential investors that target getting involved in this revolution of global finances.” Albania has already taken steps to tamp down fraud when dozens of unlicensed brokerages were found to be scamming investors out of their money via call center scams. The scammers were reportedly engaged in tax evasion and fraud, and exposing its victims to serious legal risk. The Albania government launched a probe into the centers after their exposure by an investigative media outlet. The post Albania Planning Crypto Regulation Framework appeared first on CryptoSlate.
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Regulations Roundup: Investors Not Protected in China, Albania to Regulate

In recent regulatory news, a court in China’s Futian District has ruled that cryptocurrency investments are not protected by law, Albania’s government has indicated that it intends to develop a regulatory framework for crypto, and the United States Securities and Exchange Commission has published a memorandum from a recent meeting pertaining to the proposed Vaneck Solidx Bitcoin Trust exchange-traded fund (ETF). Also Read: Online Bank Swissquote Begins Offering Clients Access to ICOs Futian District Court in China: Crypto Investments Not Protected by Law According to China’s Xinhua News Agency, the Futian District People’s Court of Shenzhen has ruled that cryptocurrency investments and transactions are not protected by Chinese law. The decision arose following a hearing pertaining to a dispute between the plaintiff, Zhou – who claimed that the defendant, Zheng, had failed to fulfill his fiduciary duty to Zhou in exchange for depositing funds in Zheng’s “Tickcoin” and “DK Mining Machine” cryptocurrency investment schemes. The court found that the plaintiff had failed to submit evidence proving the registration and legitimacy of Zheng’s virtual currency platforms, concluding that as the legality of the virtual currencies was not apparent, the investment transactions would not be protected by Chinese law. Albania Looks to Begin Drafting Crypto Regulations Albania’s prime minister, Edi Rama, recently articulated his government’s desire to take advantage of the economic benefits that could be realized through developing a permissive regulatory apparatus to virtual currencies and seeking to become a hub for pertinent emerging technologies. Whilst speaking at a ceremony celebrating the launch of the Albania-Italy offshore section of the major Trans Adriatic Pipeline, Rama told media: “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people… we are exploring the possibility of setting up a regulatory framework on cryptocurrency.” Emphasizing his hope for Albania to “become a hub for numerous potential investors… in this revolution of global finance,” Rama indicated that his government is currently “assessing and working on the drafting of a regulatory framework after having conducted a thorough analysis and study.” “If the results are satisfactory, then we will promote even outside Albania,” Rama added. SEC Publishes Memorandum From Meeting Regarding Vaneck Solidx ETF The SEC has published a memorandum from a meeting between SEC Commissioner Elad Roisman and his counsels Dean Conway, Matthew Estabrook and Christina Thomas, who met with Dan Gallancy and Dimitri Nemirovsky of Solidx, Laura Morrison and Kyle Murray of Chicago Board Options Exchange (CBOE), and Adam Phillips of Vaneck to discuss the proposed Vaneck Solidx Bitcoin Trust ETF. The memorandum details a presentation delivered to Commissioner Roisman, that asserts there have been a number of changes to the relevant “product, market structure, and overall circumstances” since the proposed ETF’s March 2017 disapproval. The presentation argues that “Issues identified in [the] disapproval order have now been resolved,” emphasizing that “There now exists a significant regulated derivatives market for bitcoin,” and that “concerns around price manipulation have been mitigated.” The SEC’s audience added: “To the extent necessary, we stand ready to make additional changes to the product structure consistent with Section 6(b )(5) of the Exchange Act to address any concerns of [the SEC] or staff.” Do you think that the SEC will approve the Vaneck Solidx Bitcoin Trust? Share your thoughts in the comments section below! Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Regulations Roundup: Investors Not Protected in China, Albania to Regulate appeared first on Bitcoin News.
Bitcoin News

Albania to Explore Framework for Cryptocurrency Regulations

Albania to Explore Framework for Cryptocurrency Regulations The government of Albania has stated that it will be considering the creation of cryptocurrency regulations. The eastern European nation hopes to encourage innovation, investment and, in turn, create jobs relating to the transformative financial technology by providing a welcoming base of operations for startups. Albania Hoping to… The post Albania to Explore Framework for Cryptocurrency Regulations appeared first on Altcoin Today.
Altcoin Today

Albania Already Working on Cryptocurrency Regulatory Framework: Prime-Minister

With the target to create a crypto-friendly legislation environment while parallel showcase better and improved competitiveness/leadership in the Balkan Region of Europe, Prime Minister of Albania Edi Rama highlighted out that the gov is open to new developments and ways to attract investments. According to TiranaTimes – On October 22nd, Mr. Rama noted how Albania could become a hub of potential for investors to target and be part of the revolution that virtual money could bring. The officials are working on drafts and assessments to introduce regulation proposals already. “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people… we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a center of gravity for innovative financial markets is open for every country despite their level of development,” says Prime Minister Edi Rama. “For the moment, we are assessing and working on the drafting of a regulatory framework after having conducted a thorough analysis and study. If the results are satisfactory, then we will promote even outside Albania, the country’s willingness to become a hub for numerous potential investors that target getting involved in this revolution of global finances,” Rama said last weekend, speaking at a ceremony on the launch of the Albania-Italy offshore section of the major Trans Adriatic Pipeline bringing Caspian gas to Europe. Despite the yearly long tanking and negative stance held by Albania’s Central Bank, this marks a date of embarking into a new page of workforce modernization. The ACB and the Financial Supervision Authority continuously warned traders or investors of crypto-risks and it never licensed a firm to issue its virtual coin. Based on the comments, it is well understood that the country’s government is aiming to become the next Island of Malta which offers a friendly-regulated space for cryptocurrencies startups and firms in general. The post Albania Already Working on Cryptocurrency Regulatory Framework: Prime-Minister appeared first on Ethereum World News.
Ethereum World News

Albania to Explore Framework for Cryptocurrency Regulations

The government of Albania has stated that it will be considering the creation of cryptocurrency regulations. The eastern European nation hopes to encourage innovation, investment and, in turn, create jobs relating to the transformative financial technology by providing a welcoming base of operations for startups. Albania Hoping to Lure Investors and Startups with Crypto Regulation According to a report in local news source The Tirana Times, the Prime Minister of Albania has stated that creating a regulatory framework could help establish the country as a hub for innovation in the rapidly evolving financial technology space. Edi Rama spoke on the topic over the weekend during the launch ceremony of the Trans Adriatic Pipeline that will transport Caspian gas to Europe: “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people… we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a centre of gravity for innovative financial markets is open for every country despite their level of development.” Rama went on to state that his government had already undertaken considerable research on the subject. Pending favourable results from the assessments completed, the country will begin to promote itself as a central hub for businesses dealing with cryptocurrencies. Previously, Albania’s government and financial regulators have offered warnings to potential investors, but have not been forthcoming with specific rules relating to the space. In July 2017, the central bank stated that virtual currencies existed outside the supervision of the authorities. The institution went on to say that investments were the responsibility of individuals, along with providing a reminder to the public that the Albanian Financial Supervisory Authority has issued no licences for companies creating and distributing virtual currencies. The head of Albania’s FSA spoke to The Tirana Times about the risks the space poses for investors earlier this year: “Of course there might be individuals or businesses in Albania investing online using the internet in companies which are issuing these initial coin offerings outside of Albania, but they should be aware that they carry all the risks and are responsible for their own choices when making such an investment.” In exploring the implications of digital asset regulation, Albania joins the likes of Malta, Gibraltar, and Switzerland. These jurisdictions, along with having much greater experience in attracting startups by using favourable regulations, all have something of a head start on Albania. They will, therefore, offer strong competition for the Western Baltic state – particularly given that the likes of Binance has already moved to Malta and Gibraltar has licensed its first cryptocurrency exchange as part of its groundbreaking legislative programme. Featured image from Shutterstock. Albania to Explore Framework for Cryptocurrency Regulations was last modified: October 23rd, 2018 by Rick D.The post Albania to Explore Framework for Cryptocurrency Regulations appeared first on NewsBTC.
NewsBTC

Albania Plans New Crypto Regulatory Framework to Make the Country a Friendly Jurisdiction

Albania Plans a New Crypto Regulatory Framework in a Bid to Make the Country a Crypto-Friendly Jurisdiction Albania is mulling over new cryptocurrency regulations in an aim to diversify investment opportunities in the country and make it a cryptocurrency regional hub. According to Edi Rama, the country’s Prime Minister, digital currencies have huge potential even in developing economies, and Albania has the capability to become a crypto-friendly hub for potential investors. Rama explained that: “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people… we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a center of gravity for innovative financial markets is open for every country despite their level of development.” Speaking at a ceremony to launch Albania-Italy Offshore section of Trans Adriatic Pipeline that’s expected to bring Caspian gas to Europe, the Prime Minister further noted that: “For the moment, we are assessing and working on the drafting of a regulatory framework after having conducted a thorough analysis and study. If the results are satisfactory, then we will promote even outside Albania, the country’s willingness to become a hub for numerous potential investors that target getting involved in this revolution of global finances.” No Company is License to Issue Virtual Currency Yet Although Albania is thinking of forming new regulations to make the country crypto-friendly, it hasn’t licensed any company to issue digital currencies just yet. The head of Albanian Financial Supervisory Ervin Koci, informed the investors about this, further noting that: “Of course there might be individuals or businesses in Albania investing online using the internet in companies which are issuing these initial coin offerings outside of Albania, but they should be aware that they carry all the risks and are responsible for their own choices when making such an investment.” The Bank of Albania further noted that the activity of digital currency operators was characterized by high level of insecurity and risk, and could not guarantee fulfillment of customer protection from any unforeseen loses.
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Russia edits its draft law on cryptos, Japanese crypto exchanges gain power to self-regulate, Albania plans for regulatory framework, FATF to come up with its first set of crypto rules, CGL partners with National Bank of Canada and Skuchain, China plans implementation of new rules, SEC confirms the launch of FinHub, owner of Unocoin arrested for operating BTC ATM

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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
Bitcoin Central

Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
Coinspeaker

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust https://www.altcoinbuzz.io/crypto-news/finance-and-funding/leading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust/?fbclid=IwAR2AlAU_C_8Mm9CUm2hDci0pmdW3pvLzphS-BSy888SzDptaXMeifxZgJ1I Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) https://www.cryptoglobe.com/latest/2019/01/crypto-investment-firm-grayscale-launches-fund-dedicated-to-stellar-lumens-xlm/ Grayscale Tweet https://twitter.com/GrayscaleInvest/status/1085904356635959297?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085904356635959297&ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fcrypto-news%2Ffinance-and-funding%2Fleading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust%2F Grayscale https://grayscale.co/stellar-lumens-trust/ BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading https://dailyhodl.com/2019/01/17/bitgo-ceo-says-institutional-money-in-crypto-can-easily-reach-trillions-of-dollars-as-company-launches-cold-storage-trading/ Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade https://www.bloomberg.com/news/articles/2019-01-16/crypto-s-billion-dollar-theft-problem-prompts-safer-way-to-trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople https://www.trustnodes.com/2019/01/17/ethereum-chain-splits-an-estimated-10-of-miners-stay-on-constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed https://www.altcoinbuzz.io/crypto-news/product-release/ethereum-upgrade-constantinople-hard-fork-delayed/ VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 https://www.newsbtc.com/2019/01/17/vaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019/ Nasdaq Tweet https://twitter.com/Nasdaq/status/1085522054559031296?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085522054559031296&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F01%2F17%2Fvaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019%2F -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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