Denmark has always been known for its interest in going cashless and getting technology companies to invest in its projects. Along with a few other countries, Denmark wants to completely get rid of cash. Experts are of the opinion that Denmark may become the world’s first cashless country.

XcelPay Wallet is integrated into an easy to use, crypto wallet that is empowered for both mobile and tablet use, makes sure that transferring and receiving payments in crypto is a secure process. XcelPay Wallet aims to cut out undesirable middlemen, bank / card transaction fees, currency conversion fees that produce a negative effect on the retailer’s and consumer’s margins. XcelPay Wallet is a merchant POS, digital payment wallet and crypto payment gateway. The Wallet allows you to top-up mobile phone plans with 900 different carrier services and in 160 countries, with Ethereum and Bitcoin.

Denmark is a world leader in innovation in areas such as pharmaceutical sciences, telecommunications, IT, and design. Experts consider it to be at the forefront of financial technology development. The country is definitely going to benefit a lot by being technology as well as Bitcoin friendly. Already, Denmark is reaping profits because of its attitude towards technology and Bitcoin.

Cryptocurrencies, including Bitcoin, will not be controlled by Danish financial regulators.

The FSA statement also emphasizes that virtual currencies are a form of unregulated electronic rather than real money — they are not issued by the Central Bank and do not have its guarantees, and only in some cases can be used to make payments. The use by retailers and other organizations of Bitcoin and other cryptocurrencies, respectively, will not qualify as the issuance of electronic money, currency exchange, brokerage or deposit services.

According to experts, Denmark’s approach to regulating Bitcoin can be called passive, while the number of countries that have decided on their position in relation to bitcoins is growing. In Germany, for example, bitcoin is classified as a unit of account with all the ensuing tax “consequences” in the form of value added and income tax on profits from operations with bitcoins. In the USA, bitcoins are recognized as a legal medium of exchange.

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