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Albania is one of the three countries in Europe that has adopted a law on cryptocurrencies. But the law lacks all the necessary guidance to make it enforceable.
More than 6 thousand private digital currencies have been created since the creation of Bitcoin in 2008 and in our country they can be traded if you have a license, but none of them is accepted as legal tender. Spiro Brumbulli, secretary of the Association of Banks emphasizes that the law seeks to regulate a dangerous market
“The state is taking over this market, because if it leaves them totally free, they can burst like a bubble and this will create social conflicts. “People will come back from governments to blame them for not telling them before.”
His view is that cryptocurrencies will explode like pyramid schemes sooner or later, as their purpose to function as a means of payment has failed:
“The future will be digital currencies that will be issued by Central Banks. Only they can function as a means of payment. “Banks have stayed away from these instruments because they only offer legal instruments.”
In Albania, according to the Chainanalysis platform for the geography of cryptocurrencies, there are about 28 thousand portfolios that hold digital assets worth $ 6.2 billion, accounting for almost 1% of the population. Only Serbia and Kosovo pass us in the region.
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