Luxembourg’s prime minister aims to turn the country into a hub for blockchain development

Luxembourg Prime Minister Xavier Bettel, at the Luxembourg Blockchain Week conference, outlined plans for the state to create conditions for the adoption of blockchain and cryptocurrencies. This was reported by CoinTelegraph.

“The aim of my government is to make Luxembourg a digital leader,” said the prime minister.

Bettel noted that the state has already achieved great heights in the development of digital technologies. However, to maintain leadership it is important to continue developing, the official added.

The prime minister noted that amid the hype he is considering launching his own collection of ties in the form of non-fungible tokens (NFTs).

Bettel has held the office of prime minister of Luxembourg since 2013. He clarified that he is not a developer or technical specialist, but is convinced of the usefulness of blockchain technology.

In February 2019, Luxembourg’s legislators created a legal framework for security tokens. Under the document, holders of blockchain assets are equal in rights to holders of traditional securities.

In April 2021, the candidate for the post of treasurer of New York City, Reshma Patel, unveiled a city-development plan, based on investments in blockchain business and cryptocurrency.

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