Adrian Hasler, the Prime Minister of Liechtenstein, is certain that blockchain technology[1] will have an impact on a variety of areas and is preparing[2] a new blockchain law to provide essential requirements in order to establish a regulatory base[3] for blockchain businesses.
The blockchain law[4] — so called Blockchain Act — was announced by Adrian Hasler at this year’s Finance Forum[5] on March 21. According to Adrian Hasler, the new act is about integrating current business models in regulatory terms in order to give companies and their clients a legal base. The planned act is expected to be circulated for consultations this summer[6].
Cointelegraph spoke with the prime minister about blockchain regulation, the politics regarding this technology and cryptocurrencies, ICOs and the business climate in Liechtenstein.
About Lichtenstein’s blockchain law
Cointelegraph: In your greetings[7] at the Finance Forum you announced a new blockchain law. What makes this regulation special?
Adrian Hasler: We see great potential in blockchain technologies that go far beyond what we can observe today. Our law is designed to serve as the legislative basis for such a token economy and thereby provide regulatory certainty for all participants and overall further positive development [in this space].
Blockchain can serve as an important base for a variety of economic applications, covering not only payment transactions but broader financial solutions, industry use cases and general applications.
CT: Could you specify the implications of such a regulation when put into place for blockchain businesses and the average citizen? How can they profit from it?
AH: We expect many more rights and assets put into blockchain systems in the future. One example: in order to effectively capitalize
