The Ministry and Committee of Digital Transformation listed the government's approach to cryptoassets. Among other things, the document states that mining does not require governmental regulation as this activity is regulated by the protocol itself and the network members.
Among other things, the document said that the government will support digital technologies, even if they are unregulated and not "defined by national law". The government will also establish regulatory sandboxes to evaluate, market test and consider the risks linked to these digital technologies.
The government will also look to establish a regulatory framework around virtual assets, but the proposals will be based on a technology-agnostic approach, best practice and international standards.
The government will also facilitate the interaction between the financial and virtual assets markets, as well as promote the implementation of international best practices in respect of the taxation of virtual assets and the activities of providers, as well as establish mechanisms to prevent abuse and misconduct.