blockchain act

14.10.2019 blog

Key Views on 172 Pages Liechtenstein Blockchain Act: Token and Trustworthy Technology Service Providers Act (TVTG)

On October 3, 2019, the parliament of Liechtenstein has unanimously voted for the first-ever Blockchain Act in the world. Officially, the act is referred to as the “Token and Trustworthy Technology Service Providers Act” (abbreviated TVTG in German), and the act will become effective on January 1, 2020. Importantly, the TVTG is focusing on blockchain and tokens in general, rather than emphasizing on cryptocurrency. As such, the act is concentrating on trustworthy technologies (TT) system that regulates service providers in the token economy.