Topic: Cryptocurrency payments are becoming more and more popular in the Baltic States (Read 83 times)

It is very interesting and pleasant to realize that payment for goods and services by crypto currency is becoming commonplace.
Recently there was news that Venezuela and Iraq are signing an agreement related to the crypto currency Petro.
In Belarus, a university has been established that deals with the development of block technologies.
This is very inspiring.

It is very good that the Baltic countries are actively using cryptocurrencies, even a little envy, because we have bitcoins are accepted only in bookmakers))) As far as I know in these countries actively support the development of cryptocurrencies, many campaigns register their projects and ICO in these countries.

I'm interested in how business owners will fix the level of income from the sale of goods and services for the crypto currency under the condition of high volatility. And the amount of tax to be paid by the company will depend on the fixation of revenue in the national currency. Either it will not be soon or the smart Balts have come up with a good way not to pay taxes .

 The development of cryptocurrency realm in the Baltic states is really amazing. Especially in Estonia ad Lithuania. The first  Blockchain Development Center in Europe was recently launched in Vilnius. It seems that Lithuania moves towards quite friendly regulation for ICO and crypto. But these countries are part of EU and if trans-EU regulation will take place the Baltic states will be automatically influenced.

Cryptocurrency payments are becoming more and more popular in the Baltic States

Buying a Cup of coffee for BTC in Lithuania, Latvia and Estonia is a common thing. Hotels, restaurants, bars, cafes, souvenir shops and even orthopedic clinics now accept cryptocurrencies. In Vilnius, there are 30 points that accept bitcoin as payment, in Tallinn – 26, in Riga – 21.

Also, the Lithuanian branch of the United Colors of Benetton franchise began to accept cryptocurrency. It will be possible to buy clothes in Vilnius stores using Bitcoin, Etherium, Dash, NEM and Steem.

Cryptocurrency payments have also started to be accepted by real estate sellers. Soon, potential buyers will have the opportunity to purchase land and houses in the cottage village of Auri, near Vilnius, the capital of Lithuania.

To buy property in bitcoin is possible and in Latvia and Estonia – in Latvia Jurmala for the cryptocurrency penthouses for sale, as Estonian real estate brokerage firm LAAM Kinnisvara announced the beginning of acceptance of cryptocurrency for the purchase of apartments in the town of Maardu, a 15-minute drive from Tallinn.

Cryptocurrency regulation in the Baltic States
So far, none of the three countries has comprehensive legislation on cryptocurrencies. Latvia is considering the possibility of taxation of cryptocurrencies taxes, and in Estonia pondered the idea of issuing its own digital currency. In turn, the Central Bank of Lithuania, which previously held a relatively hostile position towards cryptocurrencies, began to consult with representatives of the industry in order to develop legislation addressed to this sphere.
Thanks for the + 1 merit