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July 24th , 2020

Albania: Crypto Law enters in force on September 1st, 2020

Cryptocurrency Albaniajpg

On July 21st, 2020 Albania has published the law no. 66/2020, dated 21.05.2020 “On Financial Market Based on the Technology of Distributed Ledgers” to regulate the conditions for licensing all crypto activities in the country.

This law is expected to enter in force on September 1st, 2020 while other regulations are expected to be approved within the next 6 months. Beyond digital tokens, the law looks to monitor all infrastructures where DLT technology operates.

This law aims to regulate the conditions for licensing, exercising the activity of operators and stock exchanges and supervising them, as well as preventing abusive practices in the market, where severe fines are stipulated for anyone who violates the provisions of the law.

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