Cyprus is preparing a bill to regulate the blockchain

Cyprus Finance Minister Harris Georgiades (Harris Georgiades) said that the bill on regulating the blockchain should be ready this year.

“It is expected that the full implementation of this technology in the public and private sectors will radically change the structure of modern societies, the way they are organized and their work,” said Demetris Syllouris, chairman of the House of Parliament.

Silluris also said that the national strategy for digital innovations will provide the necessary legal basis for blockchain companies, as well as allow exploring the potential of distributed registry technology in various industries. In the pilot program for the blockchain should take part several ministries of Cyprus.

“As a country faced with the horrific effects of the economic crisis, we are obliged to expand the production base of our economy and make our development model more sustainable. We must do everything to integrate the latest technologies, such as the blockchain, ”said Georgiades.

Note that in Brazil they are preparing a bill that will oblige all local government units to promote new technologies, including the blockchain.