Tenset Legal Update
It’s Friday afternoon, and I’m happy to sit down and write a message for all Tenset partners across the crypto space. These past weeks were intense, and I am thrilled to present You with a list of things we have managed to complete.
First of all, we have to boast about something. We moved the company office to Tirana during recent weeks to one of the most prestigious buildings in Albania, next to the Albanian parliament and prime minister office. I chose the capital of Albania for several reasons. Albania is well-suited to the future growth of our project and knowing the right people will help us speed up various legal processes that Tenset is required to go through.
We’ve received the most preferential tax conditions from the Albanian government. Because of that, we can finally start creating the portfolio of assets for our buyback program without tax fees which gives us much more possibilities and comfort.
And guess what? The first assets of the 10set token portfolio will be purchased starting next week! According to our roadmap, a part of the generated income will be allocated in the quarterly buyback program.
The second reason is that I wanted the Tenset Core team to work together in the office. This form of work is much more effective during the project’s development in comparison to the home office. Furthermore, Albania has no Covid-19 restriction, which makes everything easier in the business sphere and private as well.
I was primarily considering that we have already started recruiting new employees and organizing the best possible working and development conditions.
Moreover, Tenset became the first official blockchain company registered in Albania. It is an enormous milestone and completes the legalization of our activity for the coming years.
From this place, I would like to thank Dr. Drita Avdyli. The Albanian government assigned her to guide us through the entire legislative process. The results of cooperation with Dr. Avdyli will be the entry of Tenset in the register National Financial Supervision Authority.
Now, let’s go straight to some facts. Top cryptocurrency exchanges and financial institutions require a legal opinion about the token characteristics and the company to get listed. We are happy that we got that legal statement from a respected law firm confirming that 10set is a utility token, not a security token.
It ensures that Tenset is fully compliant with Albanian regulations to purchase crypto assets and enter the traditional financial sector in the future.
I would like you to keep an important thing in mind. We are working on another piece of news in collaboration with the Albanian government.
Tenset will assist Albania as a strategic advisor in opening the first LEK to crypto exchange solution.
I do not want to sound like a woolgatherer here, but it astounds me to see the support and feedback we are getting from all of you. Summer in Europe is getting closer and closer. Therefore, I would like to invite everyone to come to our office between May 1-3.
We will conduct open days, and the Tenset team will be ready to spend some time with you with a tasty cup of local coffee.
I wish you all a fantastic weekend!