The Liechtenstein Parliament unanimously adopted the Law on Tokens and Trusted Technology Service Providers (TVTG), also known as the Blockchain Law.
On 3 October, the Liechtenstein Parliament approved the Blockchain Law, which aims at improving investor protection, combating money laundering and ensuring clarity. The new law will enter into force on 1 January 2020. Parliament announced that the law would make Liechtenstein the first country to introduce comprehensive regulation of the token economy.
The newly adopted law will regulate civil law issues in relation to the protection of customers and property, while at the same time establishing adequate supervision of various service providers in the token economy.
Liechtenstein's friendly approach to blockchain has already attracted several companies in the chain. The crypto-currency trading platform Bittrex has recently announced its new trading platform Bittrex Global based in Liechtenstein. Bittrex decided to set up a trading platform in Liechtenstein for reasons of clarity about the regulation of digital currencies and blockchain technology.
