An analysis of Andorra’s Digital Assets Act and the potential confusion surrounding Bitcoin, blockchain and crypto according to crypto business owners.
A small light of progress shines from Andorra, a tiny European country nestled between France and Spain. The country’s government, the General Council of Andorra, recently approved the Digital Assets Act, a regulatory framework for digital currencies and blockchain technology.
The act is split into two parts. The first regards the creation of digital money, or “programmable digital sovereign money,” which can be exchanged in a closed system. In effect, this would allow the Andorran state to create its
The second half of the act refers to digital assets as financial instruments and intends to create an environment in which blockchain and distributed ledger technologies can be regulated. For Paul (who withheld his surname), CEO of local Bitcoin business 21Million, the new law could attract new business. He told Cointelegraph