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Seaside Resort In Slovenia Promotes Itself With NFTs

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Seaside Resort In Slovenia Promotes Itself With NFTs

The tourism organization in Portorož, a summer resort on the Adriatic coast of Slovenia, has decided to promote the destination using non-fungible tokens (NFTs). The project represents the digital component of this year’s campaign to attract visitors to the region.

Tourists in Portorož to Collect NFTs and Win Prizes

Shortly after the Slovenian Tourist Board (STB) issued a “sLOVEnia NFT” last month, Portorož, in the southwestern municipality of Piran, has now become the country’s first resort with its own non-fungible tokens. The main goal of the initiative is to showcase the two coastal towns as progressive, digital, and sustainable destinations, local media reported.

“The door to the metaverse is opening, which will be a new market for future generations,” Alexander Valentin, director of the Portorož Tourist Association, has been quoted as stating during a presentation devoted to the innovations in Portorož.

The new “destination NFTs” are meant to win visitors’ loyalty. Tourists will be able to collect three tokens from three different collections, when they perform three activities: participate in a prize game, subscribe to a newsletter, and share a sticker on Instagram with the resort’s @portorozpiran account. 100 NFTs are available in each collection.

On April 20, Slovenia launched a campaign under the “We Are Here” banner in the country and six other nations — Italy, Austria, Germany, Hungary, the Czech Republic, and Slovakia. It is aimed at spreading the country’s presence as a travel destination to more markets. Nine tourist service providers are participating and more are expected to join, the Primorske Novice news outlet reported.

Besides entering the crypto world through the NFT initiative, Portorož and Piran are also increasing their promotional activities on social media. The towns have recently joined the short-form video platform Tiktok, the publication revealed.

In recent years, the small, bitcoin-friendly nation of Slovenia established itself as a leader in crypto adoption in Southeast Europe. Thousands of cafés, restaurants, hotels, hair salons, and sports facilities across the country accept various cryptocurrencies. Last fall, the authorities in Ljubljana opened public consultations on a draft law regulating crypto taxation.

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Do you expect other resorts in Slovenia and the region to issue NFTs for promotional purposes? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Russian Bankers Suggest Criminalizing Crypto Storage In Non-Custodial Wallets

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Russian Bankers Suggest Criminalizing Crypto Storage In Non-Custodial Wallets

Keeping cryptocurrencies in non-custodial wallets may be criminalized in Russia, if authorities accept a proposal from the trade association representing Russian banks. While financial regulators think the idea deserves attention, lawmakers and experts doubt it’s possible to implement such a measure.

Russian Banks Move to Curb Use of Private Cryptocurrency Wallets

Challenges with foreclosure and seizure of crypto assets held by debtors and criminals have motivated the Association of Banks of Russia (ABR) to suggest introducing criminal liability for storing coins in non-custodial wallets, the organization’s Vice President Anatoly Kozlachkov told Izvestia this week.

ABR’s initial proposal, made with the advisory assistance of the Russian Ministry of Internal Affairs, was to criminalize the undeclared storing of cryptocurrency in such wallets. The association is now leaning towards targeting refusals to provide the wallet keys when requested by authorized bodies, Kozlachkov said.

The ABR remarks that it is not referring to digital assets in wallets provided by crypto exchanges, which are de facto controlled by these platforms similar to bank deposits, but wallets controlled directly by the users.

When the relevant authorities establish a connection between a debtor and a cryptocurrency wallet, for example, the person may be given a choice — to either share their keys or risk penalties for hiding property in the form of digital assets.

Besides preventing capital outflow through crypto, the bankers say their approach would help to create “a closed circuit for the circulation of cryptocurrencies” in Russia. According to the ABR, this would be impossible without an effective foreclosure mechanism for non-custodial cryptocurrencies.

In mid-April, the ABR sent its regulatory concept to the Central Bank of Russia, the Ministry of Finance, and Rosfinmonitoring, Russia’s financial watchdog. Rosfinmonitoring told Izvestia that it deserves attention and the finance ministry was ready to consider it. Bank of Russia declined to comment.

Meanwhile, the idea has been met with criticism from lawmakers and representatives of the crypto industry in the expert council at the parliamentary working group tasked to develop comprehensive crypto regulations. Andrey Lugovoy, the group’s deputy chairman, said he understood ABR’s concerns but warned the move would hinder the legalization of the crypto market.

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Experts interviewed by Izvestia were also skeptical. According to Roman Yankovsky, deputy dean of the Faculty of Law at the Higher School of Economics, a leading Russian university, it’s unrealistic to identify the non-custodial wallets of ordinary citizens and seizing them would be difficult, if not impossible.

Andrey Gusev, managing partner of the Nordic Star law firm, considers the introduction of criminal liability for owning such wallets unnecessary and says that tax incentives and administrative fines should be enough to dissuade Russian crypto holders from using or hiding them.

Criminalizing non-custodial wallets is “fundamentally wrong,” thinks Maxim Bashkatov, head of the Legal Development Department of the Center for Strategic Research. He points out that right now it’s unsafe for Russians to store cryptocurrency on exchanges because of the risk of asset freezes as a result of western sanctions imposed over the war in Ukraine.

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Do you think Russia will criminalize holding crypto assets in non-custodial wallets? Share your expectations in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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