. That would likely take years, if it happens at all – and some are worried about what will happen in the meantime.
For its part, Finma has told CoinDesk that it continues to follow “clear and precise” blockchain laws dating from 2021 that “leave no room for discretion in implementation.” In some versions of staking, bankruptcy could put client assets at risk, calling for a tougher, bank-style approach, regulators argue.
“From staking and lending, people can obtain certain gains, and those gains are interesting from the tax perspective,” Luis Calvo-Parra Martínez, an official from the tax arm of the European Commission, told the same event, adding that “it would be good for legal certainty to have a legal definition for those [services], which now – I wouldn't say is lacking, but could be put more black on white.
According to Frederik Gregaard, the Foundation’s chief executive officer, the situation in Switzerland is fixable, and derives from the rival Ethereum blockchain switching to a proof-of-stake validation system.
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