Liechtenstein: Parliament Approves Blockchain Law

On October 4, 2019, the Liechtenstein parliament approved the Token and VT Service Providers' Law (TVTG) on transaction systems based on trusted technologies, which will also be known as the Blockchain Act. The new law aims to regulate civil law matters in relation to customer and asset protection, supervising service providers in the "token" economy, making service providers subject to due diligence rules to prevent money laundering and financing of terrorism, creating more legal certainty for innovation companies and clarifying digital securities.

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