Blockchain in San Marino

Introduction Fintech (financial technologies) represent the integration between finance and technology, revolutionizing banking, insurance and financial services. The adoption of digital solutions allows startups and traditional institutions to offer more accessible, fast and low-cost services. Fintech Classification Fintechs are divided into different operating segments, including: Payment services: include the execution of transactions via bank trans…

Payment Instruments and Services Direct debits: a payment service for debiting a payer’s payment account where a payment transaction is initiated by the payee based on the consent given by the payer to the payee, the payee’s payment service provider, or the payer’s own payment service provider. Credit transfer: a payment service for crediting the payee’s payment account by means of a payment transaction or a series of payment transactions from the payer’s pa…

More information follows for DLT operators issuing, offering, or seeking admission to trading of tokens, or providing token services. Minimum content: Part A: General information about the operator Issuer name; Registered office; Identifier of the legal entity; Group of companies, if the issuer is part of it; Identity,  address  and  functions  of  persons  belonging  to  the body   of &nb…

The rules on Blockchain Technology for Businesses introduce transparent, clear and simple regulation, providing specific disciplines for the different applications of Distributed Ledger Technology. Advantages and benefits Transparency: anti-money laundering measures for maximum protection of the system. Concreteness: a solid and unalterable legal framework. Operators can move fluidly and in the presence of clear rules. Regulatory certainty: a regulated…