Ivo Grlica, our LSBC advisor and Blockchain/Cryptocurrency specialist, has posted an interesting article on Medium.com regarding crypto-trading and the government’s ability to tax crypto-trading on the basis of taxable income.
Author: Ivo Grlica
CryptoLawyer, #Blockchain and #Cryptocurrencies specialist
Ethereum’s technology has just been given the seal of approval by the State of Arizona which passed a bill giving legal status to smart contracts and blockchain based signatures, considering them as any ordinary contract or signature.
Blockchain is a distributed ledger which maintains all transactions and assets and is updated by a number of counterparties. Financial institutions are investing in the technology – in what is hoped – to automate processes and remove “human” errors. This may help towards lowering transactional and operational costs by releasing the finance sector from its legacy systems.
Prime Minister of Luxembourg and Minister for Culture, Media and Communications, Xavier Bettel made a special announcement on November 23rd: the launch of the Infrachain initiative. The Digital Lëtzebuerg team and the project lead have signed a memorandum of understanding between 5 public and private partners to begin work immediately on a national blockchain infrastructure project.
Scorechain, the Luxembourg-based company has announced Today the constitution of an innovative group of 10 key players of the Luxembourg fund industry to explore Blockchain technology’s impact on the asset management industry. Ten founding members representing major financial institutions including BIL, BNP Paribas, CACEIS, European Fund Administration, HSBC, ING Luxembourg, Pictet, RBC Investor & Treasury Services, Société Générale Bank & Trust, and Professional Services firm PwC Luxembourg have joined forces with Scorechain.