Financiers and investors fear that a “no deal” Brexit could spell “bust” for Ireland and the nations’ blockchain industry.
Ireland is a unitary parliamentary republic in northwest Europe with an area of 70 thousand kilometers and a population of nearly five million people. Ireland has one of the highest GDPs per capita and human development indexes in the world. Ireland’s liberal economic policies resulted in some of the fastest growths of GDP, domestic investments and technology development in the world. Ireland has issued no regulations on Bitcoin and does not consider it to be legal tender. However, the Revenue Commissioners in Ireland are considering implementing a Bitcoin tax into the taxation system of gains and value-added taxes. Also there no regulations in Ireland on Bitcoin mining and Bitcoin exchange. Ireland’s Blockchain Association helps Irish businesses and policy-makers to apply blockchain technology and has an aim of making Ireland the “most blockchain literate nation.”
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