The Republic of San Marino has formally ratified its blockchain decree, legally recognizing blockchain and formally making it the latest blockchain jurisdiction on the global scene.
A Tweet by Sara Noggler, a member of the Comitato Scientifico San Marino Innovation (San Marino Innovation Scientific Committee), revealed the news about 12 hours ago.
A couple of hours ago has been finally approved the blockchain decree in San Marino.
It’s born officially a new blockchain jurisdiction today @Ale_Pal88 @mrSERGIOMOTTOLA @sanmarinoinnova
— Sara Noggler (@NogglerSara) June 6, 2019
Although no official press statement has been released yet, a LinkedIn post and video shared by blockchain project JUR’s CEO, Alessandro Palombo, seems to confirm the news. Palombo has been serving as an advisor to San Marino Innovation, a private but state-owned entity responsible for the market oversight and supervisory role of the now formal blockchain market in San Marino.
The Republic of San Marino is among the now growing number of countries that have drafted up a formal document that provides a regulatory framework on these emerging technologies, under the overarching theme of blockchain.
San Marino Innovation aims to create an ecosystem supporting innovation within the small republic, hoping to put it on par with other blockchain jurisdictions such as Malta and Gibraltar as European blockchain hubs.
Back in March, the draft Blockchain Decree provided guidelines for initial token offerings, issues of tax and accounting, as well as guidelines on how to deal with trust issues on token offerings. The full English version can be found here.
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