Cyprus will adopt a blockchain industry bill by the end of the year

A bill to regulate the blockchain industry in Cyprus will be ready later this year. This was stated by the Minister of Finance of Cyprus Harris Georgiades, reports Cointelegraph .

He called the distributed registry technology "a new technological revolution, similar to the revolution on the Internet."

The speaker of the House of Representatives Demetris Silluris also spoke about the advantages of the blockchain:

"The widespread introduction of this technology in the public and private sectors is expected to radically change the structure of modern societies, their organization and functioning."

He also said that the national strategy for digital innovation will create the necessary legal framework for blockchain companies.

In addition, a pilot program for the introduction of the blockchain will be launched, in which several ministries of Cyprus should take part.

We recall earlier it became known that the Government of Malta plans to transfer lease agreements to the blockchain.

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