Quote from: Lhaine on March 02, 2020, 11:44:49 AM

You need to also add many different crypto currency not only the popular of them .
The community of that currency can also help your exchange to make some volume having this may be a good idea .

If you will add many different coins will you also have a free listings? Like mercatox or other exchnage that have it.

Currently we consider two strategies for Orion exchange development. The first one is to add many coins and to attract many users. Another way is to move gradually and to choose only the most popular coins. What way is the most effective on your opinion?

The Orion Finance team continues to introduce the cryptocurrency laws of European countries Wink

Austria considers cryptocurrencies as other (intangible) commodities. The Austrian Ministry of Finance (Bundesministerium der Finanzen, BMF) refers mining to “mining”, which is why, like any other activities in this area, mining of cryptocurrencies is subject to income tax. The same applies to the operation of online trading platforms and cryptocurrency ATMs. However, mining and cryptocurrency exchange transactions are exempt from VAT.

The Austrian National Bank (Oesterreichische Nationalbank, OeNB) does not qualify bitcoin as a currency, because it does not fulfil the typical functions of money due to a strict limitation on quantity and the lack of stabilizing central authority. As of now, Bitcoin is neither covered by the Electronic Money Act nor by the Payment Services Act.

At the same time, the management of OeNB expresses its clear concern about the “frozen” position of cryptocurrencies. So, Ewald Nowotny, the governor of the OeNB calls bitcoin “highly speculative investments which entail high risks for individuals.” He, therefore, welcomed the initiative of the Federal Minister of Finance, Hartwig Löger, to establish a Fintech Regulation Council to regulate cryptocurrencies. In addition, he voiced support for the amendment of the EU Money Laundering Directives, as well as the proposal of the Austrian Ministry of Finance to require prospectuses for ICOs and introduce licensing by the Financial Market Authority (FMA). Finally, he added that any regulatory initiative should be complemented by improving public financial education.

Such concerns are expected from centralized structures and, unfortunately, they hinder development of the cryptocurrency market. At the same time, the Orion Finance team supports Ewald Nowotny when it comes to development of people’s financial literacy. We hope that it will cover not only the risks, but also the benefits and advantages of using cryptocurrencies.

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