Cyprus will draft a bill on the blockchain by the end of 2019

Harris Georgiades, the Finance minister of Cyprus mentioned that the National Strategy for developing and implementing the blockchain technology is going take its first steps before the end of June 2019, as the local authorities are in the middle of drafting a bill. The new legislation will simplify the integration of the blockchain into the country’s digital economy and make it more transparent and accessible from outside sources. For a country that is notorious for housing dozens upon dozens of financial service providers, a blockchain platform for transparency is an absolute necessity. The minister mentioned that the benefits offered by