Best Bitcoin Card for Luxembourg
Luxembourg has granted legal status to securities issued through the Blockchain. This opens Luxembourg to technological development and joins the current wave of positive regulation in the area of Bitcoin and Blockchain.
As announced by Luxembourg’s Chamber of Deputies on 14 February, the country decided to grant legal status to blockchain securities. The chambre des députés du grand-duché de luxembourg thus joins a positive regulatory push that is experiencing the ecosystem around Bitcoin and other crypto currencies.
The statement of the Chamber of Deputies therefore states that the issue of securities on the blockchain is a matter of concern:
The aim of the law is to give financial market participants legal certainty for the circulation of securities via blockchain technology. The transfer of securities via the blockchain has [so far] no legal certainty. The law is intended to offer investors more security and make the transfer of securities more efficient by reducing the number of intermediaries.
The new law with the code number 7363, however, almost retained the clear approval of the deputies. Thus only two people voted against the law, the remaining 58 participants accepted the regulatory approach to blockchain securities.
Positive Bitcoin and Blockchain regulation boosts
With the current law, Luxembourg is following a regulatory push that can currently be observed in the environment of Bitcoin, blockchain and crypto currencies. For example, the German Federal Supervisory Authority for Financial Services Supervision (BaFin) approved the publication of security offers from Bitbond. Thus the otherwise hesitant authority gave the official starting signal for Security Offerings in Germany.
In addition, the Bitcoin community recently received positive regulatory news from Southeast Asia. The Indonesian government decided to make trading Bitcoin and crypto currencies more convenient for companies and individuals. New guidelines are being introduced to prevent money laundering and provide more protection for investors.
In the course of this, the entire crypto market seems to be recovering. In the last 24 hours, the Ethereum rate has risen by a whopping ten percent. The Bitcoin price is also stable at the moment. At 3,760 US dollars, the Bitcoin rate is at a 24-hour plus of three percent.
About Luxembourg
Luxembourg is a country in Western Europe. Together with Belgium and the Netherlands, it forms the Benelux countries. With an area of 2586 square kilometres, Luxembourg is one of the smallest territorial states in the world and the second smallest country in the European Union after the island state of Malta.
The name Luxembourg comes from the castle Lucilinburhuc, from which the capital Luxembourg developed. It is the last Grand Duchy or Grand Duchy (of once twelve) in Europe.
Luxembourg has a broad-based medium-sized economy, but the financial sector determines economic life (18.1% of GDP in 2015). Living standards and wage levels in Luxembourg are high. The per capita gross domestic product (GDP) of € 91,600 (2015) is by far the highest in the EU. Economic growth in 2015 was 4.8%.
Luxembourg has a temperate Central European climate, influenced by Atlantic sea winds and characterised by mild winters and temperate and therefore pleasant summers. The air is mostly mild and humid.
The annual rainfall is 782.2 mm. The average annual temperature is 9 °C. In January, the coldest month of the year, the average temperature is about 2°C. The highest temperatures are usually measured during the summer months of July and August. At this time the average temperature is about 15 to 25 °C. In the north of the country, the Ösling, it is usually cooler and precipitation is more frequent.