Germany starts legislation talks on crypto-tokens
On March 8, the Federal Ministry of Finance published a key issues paper on the introduction of electronic securities and the regulation of the public offering of certain crypto-tokens.
The announcement states that ‘the measures aim to strengthen the role of the Federal Republic of Germany as one of the leading FinTech locations’. In the course of this, German law will open up for electronic securities. However, initially only ‘electronic bonds’ will be introduced.
With regard to crypto tokens, the document states that they are not covered by securities law because they don’t class as such. Nevertheless, regulatory requirements for digital tokens should be formulated, as ICOs (which are considered to be crypto-tokens) often represented a risk to investors in the past.
In the further course, the Federal Ministry of Finance will evaluate the measures in the Key Issues Paper in order to then draw up a draft bill from it. Associations and interested professionals can submit written comments by e-mail until 12th April.
Last month, the Federal Government announced it would publish a blockchain strategy by mid-2019.
Sources:
www.bundesfinanzministerium.de
kryptoszene.de
This article is brought to you by Coinquista S. A. — one of the first Polish companies enabling the trade of cryptocurrencies which is listed on the register of small payment institutions authorized by KNF Polish Financial Supervision Authority.
