Open marsrobertson opened 4 years ago
marsrobertson
commented
4 years ago If a tourist agency can hold Turkish Lira because their business partners use Turkish Lira, then we can totally, legally, officially, unapologetically hold ETH.
Probably EURO will remain as the main unit of accounting.
marsrobertson
commented
4 years ago Do we need a license?
State fee 3300 EUR;
marsrobertson
commented
4 years ago I would like to thank https://www.linkedin.com/in/mardo-soo-00a05ab0/ from https://www.consulting24.co/ for the conversation.
Apparently we have 17 friends in common on LinkedIn. Small world. All connected. If you are in the space, you happen to know people... :) He explained that Estonian licence fees are not that bad compared to Switzerland or Malta.
I also had a discussion with a committed member who runs a crypto development company in Estonia. I've asked whether I can share snippets of our conversation and he agreed:
Based on my conversations with lawyers here, a crypto license is only required if you will be providing wallet or exchanges services (aka being a custodian of other people's funds)
My company holds a good amount of crypto and has a corporate exchange account. We also develop crypto software. No license required
The whole allowing investors to choose how it gets held part might be crossing the line though.
I want to keep it simple, at the same time... Someone sending €€€ has an opportunity cost of ETH I want to make it possible - you send us ETH and you participate in the potential upside Someone is an old-school guy and has FIAT - yeah sure - we will not speculate on their funds Allowing both €€€ and ETH is truly important to me If someone wants to invest in any currency of their choosing - free market, free will
I can totally imagine situation where we raise:
In my opinion, there is no need to convert ETH into EUR as long as the buyer accepts ETH.
Just like a part exchange when selling a car or a house. Assuming Estonian jurisdiction and EUR as the currency, we can easily account for the EUR value and pay the correct amount of tax.
If we were to value €200k of ETH at €1 what would be tax avoidance, but as long as €200k is valued at €200k it is OK with my moral, ethical, logical book.
marsrobertson
commented
4 years ago and then let the market determine the price once you have a use for them.
The question that springs to mind - what is the use case of the tokens?
Screenshot from "tokenisation economy" - join the discussion: https://discord.gg/ApwHVUW
It is partially related to #3
I can totally imagine converting €€€ bank wire into ETH.
Investors can decide whether they prefer to keep their chunk in €€€ or ETH.
Personally I'm bullish on ETH and if I was to send a bank wire I'd have concerns about the opportunity cost: buying the island or holding on to crypto.
To remove that dilemma, the option to convert into ETH might be practical.
Just like airlines can do futures trading on the price of oil, BaseX is also allowed to hold cryptocurrencies, simply because some of our potential customers are Wyoming corporation hybrid entities: https://twitter.com/aitherick/status/1226993369672376320