The Assembly begins the initiative for crypto-valuta law: Kusari says other countries are being looked at

The MP, Mimoza Kusari Lila, who leads the Projetk law-making group for cryptova peacet activity, says other countries are currently being viewed as having regulated such legislation.

We have discussed and requested research from the Kosovo Parliament research office, research that has been followed back in the way it is arranged in the countries of the region and those of the European Union. One uncontained fact is that there is not a uniformed way in which cryptova peace activities are regulated, there is no link known in countries in the region that are regulated through the Central Bank means financial activity, but as economic activity”, she said.

Kusari Lila says the idea of the bill has begun after concerns about increased electricity consumption illegally in northern Kosovo and preventing organised crime and illegal activities with this currency.

“of course to enable legal activities for those who want to have activities, so I mentioned the Kosovo Customs for the reason that the part will be made to regulate procedures for imported pieces for “mining” and of course verification of then the authority to be given even the Tax Administration and Customs to convey further if there is actually information because today even if we want to stop for example <x3mining<4> that consumes illegal energy there is no legal basis for such activity as there is no regulation, since it did not have any regulation,<5>

Kusari Lila says that by law it is not intended to ban activities with digital currencies but to be checked, verifying imported equipment to create this currency, transaction activity and tax forms.

Virtual currency production field director Milot Mehmeti, who has even invested in such coins, says their regulation by law will be a great help to the state of Kosovo.

Because it paves the way for this innovative technology, paves the way for youth to be part of it, we have different programs, we have people who spend very big time online and I believe that each of them and every other investor would be very good. The various small states have already made such initiatives, established such laws and enabled other foreign investors to invest in those states, so I believe it would have been very positive for our state”, he said.

Mehmeti says there are currently not many digital currency investors in Kosovo. He says unfortunately criminal groups always use new technologies to develop different crimes, but according to him, digital currency is easier to track if used for various criminal activities.

“With cryptovaluta will be much easier to track them, tomorrow, for example, when a law is created to assign an address per person then it would be easier to see any transaction and any work done at that address, he said.

He says Kosovo has different mechanisms to control the import of equipment and in preventing electricity from producing this currency.

The “belongs to the Kosovo Energy Corporation, which for KEDs, which sees how each of the neighbourhood is spending electricity in that way can investigate and see who is using electricity illegally. This does not happen in other Kosovo cities, perhaps very little, this has happened in northern Mitrovica for reasons we know, and I think that regulating that issue prevents crime with krypovaluta”, he said.

Experts say that with the law regulating investment in virtual currency, Kosovo will remain on the move with other developed countries that have already introduced such a currency. / VOA