Austria Planning New Regulations for Cryptocurrency, ICOs | Cointific.com

1
Austria Planning New Regulations for
Cryptocurrency, ICOs

• Austrian government stated that is trying to stop
  the use of cryptocurrency

2
Austrian government stated that is trying to
stop the use of cryptocurrency as means for
money laundering.
The reforms and regulations are said to be based
on the older model that was used for traditional
assets. Some salient features include. 1. Every
trader/party must be identified by the
cryptocurrency players. This must be done either
by the cryptocurrency company or coin
exchanges. 2. Trades worth more than 12,300 or
greater must be disclosed to the government. The
financial intelligence unit would be responsible
for keeping records of all such
transactions. 3. ICOs would not escape the
regulations like they have managed in case of
many other countries. They would fall under the
same rules of market manipulation and must
submit a "digital prospectus" to the government.
3
cryptocurrency is a valid technology

• For once, it makes another country that has been
  willing to recognize cryptocurrency as a valid
  technology instead of a sham. The announcement
  also came around the same time when the
  government was probing a suspected bitcoin scam
  worth 115 million by an Austrian company
  calledOptioment. 

However, Loeger's outlook has so far been
positive. In fact, he even advised the European
Union to introduce a broad spectrum of
cryptocurrency regulations. EU, which has so far
been disdainful of the technology, has planned a
meet week. The meet would comprise of top
bankers, market expert, and some key
cryptocurrency experts. The move by Austrian
government might be the incentive that the group
of nations needed for finally recognizing
cryptocurrency.
4
Click on the link below to know more about
Austria Planning New Regulations for
Cryptocurrency, ICOs
5
Crypto Currencies Latest News From Social
Networks
6
If you Like This Video Please Like and
Subscribe this Channel
Click the Bell Button For Latest Update