If 2017 can be called the year of the ICO, then 2018 is definitely the year of cryptocurrency regulation. The fast growth of digital money and its ubiquitous distribution couldn’t go unnoticed by different countries. Every month its authorities create bills on the cryptocurrency use and regulation. Governments do not completely understand the essence of cryptocurrency, whether it is an asset, whether it is taxed, how to treat ICOs and track cryptocurrency transactions.

 

 

One of the most serious obstacles to the widespread of cryptocurrencies is the problem of its regulation. Many countries simply do not know how to regulate cryptocurrencies without prejudice to the states and criticism from citizens. It’s not a secret that the governments of some countries are turning a blind eye to the advent of technologies like DLT (Distributed Ledger Technology), not wanting to learn and widely implement it.

 

 

Some large-scale events, planned for this autumn, can clarify all these questions. The attention of the crypto community is now focused on industry legislators, who are planning several consortia to discuss new trends and ways of further blockchain development. Long-awaited forecasts, insights, and perhaps, the questions raised will finally receive an answer.

 

The topic of the crypto regulation will be discussed during the Blockchain Cruise Mediterranean on September 7-11. The third Blockchain Cruise from Coinsbank, whose organizers have considerable experience in holding such events, had started they work in this field long before the blockchain and crypto became the mainstream, leaves from Barcelona. Leading blockchain experts such as John McAfee, Bobby Lee, Brock Pierce, Roger Ver, Charlie Lee, Ton Weiss, Miko Matsumura and many more will discuss the rights of cryptocurrency holders, regulation in the US and abroad and will participate in a general discussion.

 

 

During the conference, the following acute issues will be discussed:

• Investing & Selling Tokens
• Blockchain today
• Marketing of blockchain projects and token sales
• Regulation
• In Crypto we trust
• Blockchain out of finance

European countries now are in demand among such events, especially after the latest trend – the Asian Roadshow. The situation with the crypto regulation in the Mediterranean countries should be given separate attention.

 

Recently, Spain began to carefully track the cryptocurrency industry. The Spanish Congress unanimously supported the draft law on the regulation of the country’s cryptocurrency, and also agreed to promote the blockchain as an economical and impartial system of payments and transfers. The government plans to launch a specialized blockchain-space in the technological center of the city, which would  contribute to growth and innovation in the local digital ecosystem. And in April 2018, the Spanish Banco Bilbao Vizcaya Argentaria (BBVA) became the first global bank to issue a loan using blockchain. However, Spain is only at the stage of introduction of “regulatory sandboxes”, and political instability in the country can stop the process of implementing crypto and blockchain.

 

In Italy, they follow more stringent policy of cryptocurrency regulation. The government imposes additional obligations on companies, that accept cryptocurrency payments as the payment for goods and services, in the form of regular reports to the Ministry of Finance. Particular attention is paid to the compliance of infrastructural cryptomarket participants with the requirements of anti-laundering legislation.

 

In France, the cryptocurrency regulation is slowly easing. So the tax, established in 2014 at the level of 45% of the income of cryptocurrency investments, decreased more than 2 times. And French President Emmanuel Macron recently published his photo with a cold cryptocurrency wallet with the bitcoins on the account. Despite this, France still remains unprofitable for miners. The main task of the government is to establish legal norms aimed at the evolution of regulation, improving control over development and preventing the use of cryptocurrency for tax evasion, money laundering, and financing of criminal activities and terrorism.

 

“In March 2018, Argentina hosted the G20. Now there are all the prerequisites to analyze whether the world leaders are really ready to make concessions and allow the use of cryptocurrency in all countries without exception. Our cruise will not only be a recreation option, but also as a discussion platform that will help influence the opinion of world leaders who will try to make a decision regarding the cryptocurrency as a result of our conference. Now we have analyzed our mistakes and are waiting for effective solutions from governments. “

Bobby Lee

Co-Founder of BTCC

 

 

Credible sources indicate a G20 crypto analogue is planned for the same month as well. This is the first conference in the blockchain history, which can go beyond the boundaries of technology and really affect the further industry development.

 

The Futurama Blockchain Innovators Summit will unite the leading crypto exchanges, world famous regulators, venture funds and influential financial experts in a luxurious designer boutique villa on the oceanfront. A limited number of guests and the secrecy of the venue suggest a semi-closed format of the event. The exact address is not yet known even to those who purchased tickets with reference to the fact that “now a global megastar is resting at the villa”.

 

The Futurama organizers managed to do almost impossible – to gather together those, who have never sat at the table with each other.

 

“In fact, I have not seen or heard truly honest and direct conversations between the regulators and the leading exchanges on how to shape the future of cryptocurrency market through collaboration and education. I would also argue that the same lack of direct and honest conversation about how to self-regulate token listing between the exchanges and the crypto ecosystem continuously fueled by new ICOs. So, we’ve decided to devote our second iteration of Futurama in Ibiza to that end.”

Joshua Hong

Internet-media entrepreneur

 

Blockchain projects and exchanges vs state regulators. Who will win in hot debate? The world will find it out on September, 11th. So far, only some of the topics are known:

 

• The Ultimate Paradox: Why Centralized Exchanges are Still Main Growth Driver of Decentralization Movement
• The Battle of Crypto Jurisdictions: Which One, Why, How, When, Who, Where And So What?
• Exchanges on Blockchain And Enabling Technologies: A Pipe Dream or Inevitability?
• Future of Crypto Regulations: Are we at the end of an era?
• The Best Practices on Token Listing (ICO): The Good, The Bad, And The Ugly.
• Where to Bank And Why: The Leading Crypto Banks of The World.

 

Among speakers will be Roger Ver, CEO at Bitcoin.com; Brock Pierce, Bitcoin Foundation Board Chairman; Sergei Zhdanov, EXMO leader; Miko Matsumura, CEO at Evercoin, and other blockchain experts.

 

And an icing on the cake, Delta Summit, which will be held from 3 to 5 October in Malta.

 

Currently, Malta is the leader in the field of mitigating the regulation of the cryptocurrency. A large number of cryptocurrency companies, positively assessing previous regulatory decisions of local authorities, is already operates in Malta. In particular, such exchanges as OKex, Binance and BitBay opened their offices there. This summit is aimed at creating a global regulatory debate and seeks to re-emphasize the efforts of the Maltese government to integrate the blockchain into the state.

 

“I understand that regulators are afraid of blockchain technology, but the fact is that it is inevitable. We must be ahead, we must serve as examples for others to follow, and not vice versa.”

Dr. Joseph Muscat

Prime Minister of Malta

 

The following topics are stated for discussion:

• Malta: The Blockchain Silicon Valley?
• Asset denial – the way forward
• Blockchain and AML / KYC – what’s next?
• The legal aspects of marketing an ICO
• How Malta effectively regulates ICO
• Global trends in the regulation of digital assets

 

The summit will be attended by Joseph Muscat, the Prime Minister of Malta, Changpeng Zhao, the founder of Binance, Larry Sanger, the co-founder of Wikipedia, and many others. Among the exchanges are stated the truly world names such as Binance, OKEX and BitBay, which are invited to discuss regulatory issues on the part of governments.

 

“We look forward to Delta Summit and plan to make Malta a country of blockchain. Thus, we will be the first in the world to officially regulate the new industry at the official level, and in the future many countries will be able to adopt our experience for introducing technology into their economies. “

Silvio Schembri

Parliamentary Secretary

 

At the moment, the market of cryptocurrencies is estimated at more than 200 billion dollars. Digital coins have taken all over the world, and the rising trend does not stop. Regulators consider cryptocurrencies as a threat to the economy, an uncontrolled source of financing of criminal activity and undermining their authority as a controlling body. They pursue many goals that contradict the main principles of the crypto community: security, privacy, decentralization and freedom. The only way to reach consensus is discussions and open dialogue between regulators and leading experts in the crypto industry. Perhaps this fall will be fateful for the further cryptocurrency  development.

 

Photo via Shutterstock.

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