German ministry of finance issues paper about e-securities & Crypto Tokens
For more latest news update on Bitcoin Cryptocurrency trading & Bitmex Binance auto Trading bot visit this below given Teegram channel
Join- https://t.me/btctradingclub
Join- https://t.me/freebitmexsignals
German financial watchdog (BAFIN) releases a paper that discusses about electronic securities and crypto tokens in detail.
Following the statement the Cabinet of Germany end of last month about the plan to introduce blockchain strategy by mid-2019, the country’s Federal ministry of finance (BAFIN) just issued a paper that contains blockchain securities regulations.
In the paper, the regulator discusses key points related to electronic securities as well as crypto tokens.
According to Cointelegraph, the document doesn’t limit the underlying technology of electronic securities, mentioning that it could be based on blockchain or distributed ledger technology (DLT).
On the other hand, crypto tokens are not considered as securities, investment or other financial instruments, thus, their issuance is not subject to existing market regulations.
That said, any ICOs related to crypto tokens are a subject of discussion in the paper due to the their potential risks for investors.
Furthermore, the Federal Ministry of Justice and Consumer Protection and the Federal Ministry of Finance are expected to come up with “comprehensive picture of measures” prior to proposing any draft bills related to the subjects of discussion of the paper.
With clearer regulation, BAFIN expects that it would pave the way for German to become one of the leading fintech countries in the world.
In the meantime, the recent crypto market situation is said to have shown signals of the next bull run. Check out Chepicap’s YouTube channel to find out.
