Latvia Unexpectedly Became First. In What Way? 0 6

It should be noted that Latvia was one of the first to adopt the entire legislative framework related to cryptocurrency. Recently, the Bank of Latvia, which has been delegated the authority to license and oversee companies engaged in cryptocurrency, issued the first two licenses — they were received by the Hungarian company "BlockBen" and the Lithuanian firm "Nexdesk." Thus, Latvia became the first in the European Union to issue licenses for cryptocurrency transactions. Yesterday, a press conference was held dedicated to this significant event, where Minister of Economics Viktor Valainis emphasized that Latvia is becoming not only a regional or European player but is actually entering the global market competition in the field of cryptocurrency. According to the minister, interest in our country is already being felt from very large players in the crypto market. "We see that even U.S. President Trump has joined this global struggle for attracting major players," said the minister.

In turn, the Vice President of the Bank of Latvia, Santa Purgaile, noted that the companies that received licenses underwent a thorough control mechanism, and this will only benefit all participants in the cryptocurrency market. The Bank of Latvia, according to one of its leaders, is open to new technologies and is ready to consider applications from other international and domestic companies wishing to operate in the cryptocurrency market.

The issuance of a license by the Bank of Latvia means that these two mentioned companies can operate not only in our country but throughout the European Union.