Bitcoin, blockchain, cryptocurrency burst onto the world stage in 2008, when the online posting of a pseudonymous white paper envisioned a new way to transfer value over the internet. In the decade-plus since, the cryptoasset market has gone through all the classic phases of a disruptive technology: massive bull markets and crushing pullbacks, periods of euphoria and moments of despair, fear, and everything in between. As the crypto market enters its second decade, it is being increasingly used even in Albania.
Today, Albania is one of the few countries that has a dedicated a law for regulating cryptocurrency and blockchain technology. Despite all the excitement, however, few people even understand what crypto really is or why it might matter. Is it an alternative currency? A technology? A venture capital investment? A specious bubble?
To try and reply to these questions and to provide a first glance of the Albanian legal context, KALO&ASSOCIATES will publish a set of 5 informatory notes on the recent developments in the country.
This information can be of use to all potential investors and other actors in the country. It was prepared by our experts, Mr. Olsi Çoku who is also the Chairman of the Board of the Authority in charge of supervising these new activities, the Albanian Financial Supervisory Authority (AMF), and Mr. Irv Vaso an ICT lawyer with broad experience with crypto assets and blockchain technology.
Starting from next week we will publish the first informatory note "Introduction to the legal framework of financial markets based on distributed ledger technology in Albania" and every week after that we will publish the subsequent informatory notes until you have the full picture of this new market at your disposal.
The goal of these notes is to provide the inquisitive investor and the pubic with a clear-eyed guide to crypto and blockchain in Albania: what they are, what they are not, and where they might go from here. We want you to walk away confident in your understanding and armed with information to decide how to best position yourself for what is ahead.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.